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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

(76-100 of 214)
Companies can't remove reviews or game the system. Here's why
Score 10 out of 10
Vetted Review
Verified User
Vena saves time if your forecast, budgeting, or any other process is based on excel spreadsheets and workflows that have to be manually tracked, input, and consolidated. We saved 8 hours in each of our planning processes that are now utilized in the analysis of the why's instead of the what's.
Score 10 out of 10
Vetted Review
Verified User
Vena has shortened month-end processing time by half the time. We required a lot of long days of training for months to implement this process. The implementation and cross-training could benefit from more training materials for the primary user to share with new contributors. Typical integration times for other systems have been 6 months. I would say both for the good and bad, Vena has so many different processes to offer the integration time for our company on this system is still ongoing a year later.
Score 9 out of 10
Vetted Review
Verified User
Incentivized
Vena's features are very well suited for collaborative planning. The easy-to-use excel interface is easy to update and easy to manage year-over-year or period-over-period. The task management and tracking features allow a holistic view from the administrator/manager perspective to make sure tasks are completed on time. Vena also has batch features so that you can easily upload and create repetitive tasks across many departments instead of individually updating each one.
Score 9 out of 10
Vetted Review
Verified User
Incentivized
Current forecasting models using only Excel should move on to use a cloud-based forecasting platform. Vena should be considered if the core of the team using the software is Excel proficient. Expert services are recommended for engagement if forecasting model setup changes frequently. Not recommended for Mac users.
May 14, 2022

Vena is great!

Score 9 out of 10
Vetted Review
Verified User
Vena is being used by our company to tie all areas of the company together to achieve a complete budget function. It has also fostered a deeper relationship with our data, by allowing us to gain additional insights. Our sales team has been empowered to own more of the budget process, giving them more incentive to complete tasks on time and accurately.
May 14, 2022

Quick and easy

Judy Dam | TrustRadius Reviewer
Score 10 out of 10
Vetted Review
Verified User
Incentivized
Vena helps to create reports for any location very quickly. It helps at budget time when multiple users can update information for the budget year at the same time. During budgeting, for people to make changes to the system without uploading and downloading information. I just started using it myself so still learning.
May 14, 2022

Customer Review

Score 9 out of 10
Vetted Review
Verified User
Incentivized
Vena is well suited for building out static reports, especially when they are consistent month over month. It becomes a bit more difficult in a scenario where new GL accounts are consistently created and dynasticism is lost.
Noris Pasic | TrustRadius Reviewer
Score 10 out of 10
Vetted Review
Verified User
Incentivized
Whenever you have a massive amount of data, whether centralized or disparate, you can bring it into Vena to organize, slice and dice, and report on. Financials, Headcount, Compensation, OPEX, you name it--they have a solution ready to be stood up within a week (how long it took in our experience to get us started).
Score 9 out of 10
Vetted Review
Verified User
Incentivized
Vena is great to deploy one version of data and is customized to individual users using a standard template. Financial results, collecting budget data, forecasts, and notes for variance analysis from operational managers. It has been a great tool for my company. We keep improving our products to the customers of financial reporting. Users love the functionality.
Score 8 out of 10
Vetted Review
Verified User
Incentivized
If you have a financial system that does not provide useful reporting tools, Vena is very well suited. If you can get the financial data out of your system, you can write basically any report you would want using Vena.
February 24, 2022

Vena is Great!

Score 9 out of 10
Vetted Review
Verified User
Incentivized
Vena is great for organizations with multiple entities and multiple ERP platforms. Vena is great for driving collaboration between the business/operation departments and the finance department.
February 23, 2022

Ven-tastic Experience

Score 9 out of 10
Vetted Review
Verified User
Incentivized
Vena is well suited to medium to large-sized organizations with disparate users needing access to financial data. The system has fostered collaboration in our daily work. It has driven decision-making by providing timely, accurate information that is interactive. Price-wise, it may be difficult for small organizations to justify. Shines brightest where lots of users are needed.
Score 10 out of 10
Vetted Review
Verified User
Incentivized
The thing we love most about Vena is the flexibility. If it can be done in Excel, it can be done in Vena. It's incredibly easy to make updates and enhancements that are automatically deployed for all end users. If we're going to begin capturing a new data point on our event group template, a new column can be added and mapped for all 200 end users to begin work within minutes. It's fantastic! While Vena isn't likely to be THE solution for every process, we continue to find that the flexibility of the tool allows us to move outdated processes after outdated processes into the Vena ecosystem. We started with budgeting, but our use of Vena has extended into forecasting, reporting, capital project planning, and even some calendar analysis. Vena has been a great fit for our organization.
February 22, 2022

Vena Review

Andrea Croak, CPA, MBA | TrustRadius Reviewer
Score 10 out of 10
Vetted Review
Verified User
Incentivized
Vena is well suited for forecasting and planning processes across a large organization. Vena would not be well suited for an organization that does not have a streamlined and consistent COA or organizational structure across units.
Score 10 out of 10
Vetted Review
Verified User
Incentivized
Vena is an excellent tool for taking similar but disparate data sources and combining/consolidating, an entry-level database user can quickly pick up on the processes to build a fairly robust and re-usable model that performs the transformations in a controlled way through the use of mapping tables, etc. Which makes it very auditable or easy to track down changes over time. Additionally, the Vena integrations are fairly intuitive to look through to understand how data is flowing if you're not the one who built the process (i.e. it's not a black box). Vena is not the best data visualization tool (haven't tried the Power BI connector).
February 21, 2022

Vena Budgeting Review

Score 10 out of 10
Vetted Review
Verified User
Incentivized
Vena makes distributing budgeting templates to budget owners a breeze and consolidation of completed templates is automatic. Additionally, any tweaks that need to be made can quickly be pushed out as well to all users. The days of emailing individual spreadsheets to owners and manually compiling the results are gone with Vena. Additionally, their customer service has been fantastic. They are always quick to respond to any issues we've had.
Score 10 out of 10
Vetted Review
Verified User
Incentivized
Organizations that have multiple ERP systems or heavy consolidation requirements are well suited to Vena as you can build the rules and then consolidation just occurs as part of the report. Also, companies with either detailed budgets or ongoing forecasting requirements can benefit from Vena as the process is easy to manage and well-controlled. Less appropriate would be heavily detailed sales reporting as the cube format can limit the number of variables you can report on easily.
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