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Vena

Vena

Overview

What is Vena?

Vena Solutions provides a financial process automation solution to automate Corporate Performance Management, accounting and budgeting, Regulatory & Compliance, and other finance-related processes. It is scaled for medium to large-sized organizations.

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Recent Reviews

Easy to use....

10 out of 10
March 13, 2024
Incentivized
Vena is currently being used by the Finance department with a potential to extending usage further out to other teams in the organization. …
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Vena Review

9 out of 10
March 09, 2024
Incentivized
We adopted Vena for the preparation of our 2024 budget. Previously we were using Excel spreadsheets, but needed a more streamlined …
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Great FP&A tool

10 out of 10
January 05, 2024
Incentivized
Vena is a fantastic tool for any organization and the Vena implementation team is really helpful. I think its a money well invested for …
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Vena Review

6 out of 10
December 29, 2023
Incentivized
Vena is being used on a day to day business to support any ad-hoc requests from the finance/accounting side and constantly updating …
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Awards

Products that are considered exceptional by their customers based on a variety of criteria win TrustRadius awards. Learn more about the types of TrustRadius awards to make the best purchase decision. More about TrustRadius Awards

Popular Features

View all 48 features
  • Excel-based Reporting (194)
    9.3
    93%
  • Financial budgeting (202)
    9.2
    92%
  • Management reporting (199)
    8.8
    88%
  • Forecasting (193)
    8.6
    86%

Reviewer Pros & Cons

View all pros & cons

Video Reviews

1 video

Vena Review: Proves To Be Financial Management Solution For Handling Multiple, Complex Accounts
03:21
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Pricing

View all pricing

Professional

N/A

Cloud

Complete

N/A

Cloud

Entry-level set up fee?

  • Setup fee optional
    Optional
For the latest information on pricing, visithttps://www.venasolutions.com/resources…

Offerings

  • Free Trial
  • Free/Freemium Version
  • Premium Consulting/Integration Services
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Features

BI Standard Reporting

Standard reporting means pre-built or canned reports available to users without having to create them.

8.7
Avg 8.0

Ad-hoc Reporting

Ad-Hoc Reports are reports built by the user to meet highly specific requirements.

8.1
Avg 8.3

Report Output and Scheduling

Ability to schedule and manager report output.

9
Avg 8.2

Data Discovery and Visualization

Data Discovery and Visualization is the analysis of multiple data sources in a search for patterns and outliers and the ability to represent the data visually.

8.1
Avg 7.6

Access Control and Security

Access control means being able to determine who has access to which data.

9.2
Avg 8.7

Mobile Capabilities

Support for mobile devices like smartphones and tablets.

9.1
Avg 8.0

Budgeting, Planning, and Forecasting

These activities are designed to assist with both data-driven operational, short-term planning and strategic long term planning

8.7
Avg 8.3

Consolidation and Close

Consolidation of data from multiple entities with currency management, reporting and audit trails.

8.4
Avg 8.0

Financial Reporting and Compliance

Financial statements and regulatory filings

8.5
Avg 8.2

Analytics and Reporting

Dashboards and scorecards for KPI monitoring and benchmarking

8.7
Avg 8.0

Integration

Ability to integrate with external applications.

9
Avg 8.3
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Product Details

What is Vena?

Vena is a Native Excel Complete Planning Platform used for budgeting and forecasting, for business leaders and finance and operations professionals.


Vena boasts users among more than 1,350 companies such as Nike, Coca-Cola Consolidated and the Kansas City Chiefs. In addition, Vena works with over 100 Partners.

Vena Features

Budgeting, Planning, and Forecasting Features

  • Supported: Long-term financial planning
  • Supported: Financial budgeting
  • Supported: Forecasting
  • Supported: Scenario modeling
  • Supported: Management reporting

Consolidation and Close Features

  • Supported: Financial data consolidation
  • Supported: Journal entries and reports
  • Supported: Multi-currency management
  • Supported: Intercompany Eliminations
  • Supported: Minority Ownership
  • Supported: Local and consolidated reporting
  • Supported: Detailed Audit Trails

Financial Reporting and Compliance Features

  • Supported: Financial Statement Reporting
  • Supported: Management Reporting
  • Supported: Excel-based Reporting
  • Supported: Automated board and financial reporting
  • Supported: XBRL support for regulatory filing

Analytics and Reporting Features

  • Supported: Personalized dashboards
  • Supported: Color-coded scorecards
  • Supported: KPIs
  • Supported: Cost and profitability analysis
  • Supported: Key Performance Indicator setting
  • Supported: Benchmarking with external data

Integration Features

  • Supported: Flat file integration
  • Supported: Excel data integration
  • Supported: Direct links to 3rd-party data sources

BI Standard Reporting Features

  • Supported: Pixel Perfect reports
  • Supported: Customizable dashboards
  • Supported: Report Formatting Templates

Ad-hoc Reporting Features

  • Supported: Drill-down analysis
  • Supported: Formatting capabilities
  • Supported: Predictive modeling
  • Supported: Integration with R or other statistical packages
  • Supported: Report sharing and collaboration

Report Output and Scheduling Features

  • Supported: Publish to Web
  • Supported: Publish to PDF
  • Supported: Report Versioning
  • Supported: Report Delivery Scheduling

Data Discovery and Visualization Features

  • Supported: Pre-built visualization formats (heatmaps, scatter plots etc.)
  • Supported: Location Analytics / Geographic Visualization
  • Supported: Predictive Analytics
  • Supported: Support for Machine Learning models
  • Supported: Pattern Recognition and Data Mining
  • Supported: Integration with R or other statistical packages

Access Control and Security Features

  • Supported: Multi-User Support (named login)
  • Supported: Role-Based Security Model
  • Supported: Multiple Access Permission Levels (Create, Read, Delete)
  • Supported: Report-Level Access Control
  • Supported: Table-Level Access Control (BI-layer)
  • Supported: Field-Level Access Control (BI-layer)
  • Supported: Single Sign-On (SSO)

Mobile Capabilities Features

  • Supported: Responsive Design for Web Access
  • Supported: Dashboard / Report / Visualization Interactivity on Mobile

Vena Screenshots

Screenshot of Operation Expenses - Predictive AnalysisScreenshot of Allocations DashboardScreenshot of Vena Add InScreenshot of Power BI DashboardScreenshot of Revenue and Sales PlanningScreenshot of Corporate Dashboard - Workforce PlanningScreenshot of Operational Expenses - Drill through analysisScreenshot of Operational Expenses Planning - Input Excel templateScreenshot of Operational Expenses - Drill through analysisScreenshot of Operational Expenses Planning - Input Excel template

Vena Videos

Introduction to Vena Complete Planning
Introduction to Budgeting in Vena Complete Planning
Vena for SaaS - Financial Reporting and Reporting Made Simple
Vena for Banks and Credit Unions - Budget, Forecast and Plan With Confidence

Vena Technical Details

Deployment TypesSoftware as a Service (SaaS), Cloud, or Web-Based
Operating SystemsUnspecified
Mobile ApplicationYou don't need to download an app or change a setting to use Vena on your mobile device: just open your browser, go to Vena (vena.io), and log in as you normally do. The Contributor interface is fully responsive, so it can adjust to any size screen, regardless of the type of device you have.
Supported CountriesUnited States of America, Canada, United Kingdom, Australia, South Africa, Europe
Supported LanguagesVena supports any localization capabilities already native within Excel. Vena Cloud supports English, Spanish, and French. If a specific language is required please don’t hesitate to ask.

Frequently Asked Questions

Vena Solutions provides a financial process automation solution to automate Corporate Performance Management, accounting and budgeting, Regulatory & Compliance, and other finance-related processes. It is scaled for medium to large-sized organizations.

Workday Adaptive Planning, Prophix, and Planful are common alternatives for Vena.

Reviewers rate Flat file integration highest, with a score of 9.4.

The most common users of Vena are from Mid-sized Companies (51-1,000 employees).

Vena Customer Size Distribution

Consumers0%
Small Businesses (1-50 employees)19%
Mid-Size Companies (51-500 employees)55%
Enterprises (more than 500 employees)26%
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Comparisons

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Reviews and Ratings

(307)

Attribute Ratings

Reviews

(51-75 of 214)
Companies can't remove reviews or game the system. Here's why
Score 9 out of 10
Vetted Review
Verified User
Incentivized
I would recommend Vena to every one of my friends that owns or works on a medium to a big company, I find most of its capabilities are better seen when you have many departments, accounts, regions, etc. so for folks that are just starting their company without oustide funding it could be quite expensive and not use the full potential of the extension.
Score 8 out of 10
Vetted Review
Verified User
Incentivized
If you are using Excel extensively and manually updating numbers each month Vena can be a huge help in automating these tasks. Vena seamlessly communicates with an accounting system to sync everything over. I would not recommend Vena to someone that may not be as comfortable with the more advanced features of Excel and does not have the resources to hire an outside consultant to assist behind the scenes in report creation.
Score 7 out of 10
Vetted Review
Verified User
Incentivized
Vena has been a great platform for us to input all of our forecastings into one hub so that we can perform our consolidations. We also import our actual data into the Vena database, so we are now able to compare our financial results against our forecast and budgets to provide better analysis for our stakeholders. Vena has offered us the flexibility to build reports on demand which has been a great tool to have as our reporting needs evolve.
Jeremy Vance | TrustRadius Reviewer
Score 9 out of 10
Vetted Review
Verified User
Incentivized
Our company has many departments that used to take a whole day to create templates and email each department head. Vena has allowed just the push of a button to automatically send out each department template to each individual department manager. This has significantly reduced time in budget and forecast creation. It has allowed us to track changes easily and determine different scenarios. I cannot imagine a situation in which Vena's capabilities are not needed.
Score 10 out of 10
Vetted Review
Verified User
Incentivized
It's most suitable for companies that want to migrate to a more advanced tool but are struggling to do it because multiple sources of information cannot be integrated into a single financial model. Also, for companies that want to improve the collaboration across all users in the company and at the same time want to keep things simple, like the use of excel for end users.
Score 9 out of 10
Vetted Review
Verified User
Incentivized
Vena puts together a multitude of webinars and learnings to help individuals find use cases for the software. Though Vena is only currently used for financial planning and analysis purposes right now, the use case of Vena for account reconciliation and financial consolidation would help immensely with automating mundane manual tasks that are subject to a higher degree of error due to the degree of manual intervention required.

From a Contributor perspective, my experience so far with Vena has been smooth and easy to understand and pick up without having to go through hours of training.
October 11, 2022

Pretty cool

Score 7 out of 10
Vetted Review
Verified User
Incentivized
You are assigned a task, you go to task list, you see who you can ask about it, the files you need are there already, and higher-ups can add instructions to the file. Good stuff. Good in month end close where everyone is pumping out tasks on their own and the manager needs to keep track of who is doing what.
October 08, 2022

Quick and short.

Score 7 out of 10
Vetted Review
Verified User
Incentivized
Well-suited: When you have a lot of users who contribute to the budgeting process, the workflow helps to set deadlines and send out budget templates. It gathers information from all departments and summarizes them in a custom budget report that you can create. Less appropriate: If you are looking for financial reporting uses only, there are other software that is much easier to use (ex: drag and drop). Vena requires a lot of mapping work.
Mikhil Soni | TrustRadius Reviewer
Score 9 out of 10
Vetted Review
Verified User
Incentivized
It is more suited for data visualization and consolidating all the data. It helps in planning and creating strategies for the next quarters and even for long term. However, it is less helpful in project planning or management and better softwares are available which are more advanced and good at it.
Score 9 out of 10
Vetted Review
Verified User
Incentivized
Vena is great for organizations that are comfortable using Excel and require lots of flexibility as it allows you to design and build your templates in exactly the way that you need. It's also a good match for organizations that have disparate users contributing simultaneously because it's permissions allow for everyone to work in a standard template while only being given access to edit the data for which they're responsible. If you have a team that has internal capacity to manage your systems, Vena as a platform allows you to expand beyond your initial implementation independently without needing to go back to a consultant to make an adjustment or start a new project.
Score 10 out of 10
Vetted Review
Verified User
Incentivized
Fast-growing business, where needs are always changing. Templates can change with the business easily as it all excel based, so if you can think of it in Excel, you can turn it into an automated template Template automation is by far my favorite feature of Vena and has allowed me to remain a one-person team even though the company has grown many times over in a few short years.
September 15, 2022

Vena..

Score 7 out of 10
Vetted Review
Verified User
Incentivized
Vena would be very helpful in building Financial reports and all required audit reports. It would help in Financial planning and analysis and decision making. It would also help in human resources, managing all the employees moving and out their costs and also automatically impact the financial. It might also be helpful in building dashboards if understood well.
Score 8 out of 10
Vetted Review
Verified User
Incentivized
Vena is a great product that provides a centralized location for all of your budget and financial data. The ability to create workflows and not have to worry about data consolidation during the budget process has allowed more time to complete detailed reviews of each individual budget. It has also provided us with the ability to quickly create budget adjustments as necessary that roll up into the existing budget. While reports are easy to create, distribution has been hit or miss dependent on the end user. At the end of the day, it is another system they must login to in order to view. It also works well if you have a centralized business model with only 1-3 admins (FP&A team) creating and controlling the files and workflow processes. If you hope to empower other key individuals outside your FP&A team to build their own reports though, it becomes cost prohibitive very quickly.
Score 7 out of 10
Vetted Review
Verified User
Incentivized
It is well suited to collaborate with departments overarching within your company. For example, setting up a budget where several departments need to deliver their input and you will facilitate the process, and keep an eye on the process. I think it is less appropriate for organizations with a low maturity level in finance, as the tool is really flexible, and if you don't have a clear vision of your needs, maybe Vena is not the way to go as it will not guide you in the process. It's really open/flexible to set up, so you need to know what you want.
Score 10 out of 10
Vetted Review
Verified User
Any organization that has the same P&L for multiple business units would benefit greatly! Franchises, etc are a perfect fit. Any organization that has multiple shadow systems in Excel can all be brought together in Vena. Hotel management would be a great fit! Reits and other infrastructure companies would be a great fit!
August 26, 2022

Vena for Financials

Score 10 out of 10
Vetted Review
Verified User
Incentivized
Though there is room for reducing the number of steps to reach the desired out, like loading Vena plugins, expiring too fast, and being unable to retrieve once closed without saving, overall, Vena is very flexible and straightforward to use it.
Aaron Andersen | TrustRadius Reviewer
Score 8 out of 10
Vetted Review
Verified User
Incentivized
Vena is perfect when you can't work within a cookie-cutter budgeting system; when you have developed complex Excel budgeting/planning models that can't be duplicated in other affordable systems. Vena is right when you need enterprise-level customization, but don't have enterprise-level resources. Vena is right when you're an Excel wizard and have already figured out solutions to your modeling challenges in Excel, but you need the consistency and control of a database in the cloud. Vena is the wrong choice if you hate troubleshooting models and logic. Vena is unnecessary if your organization aligns neatly with competing products' case studies. Vena is not ideal if you need a turnkey implementation.
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