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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 8.1

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 7.7

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 8.1

Financial Reporting and Compliance

Financial statements and regulatory filings

8.5
Avg 8.3

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

(305)

Attribute Ratings

Reviews

(1-25 of 214)
Companies can't remove reviews or game the system. Here's why
March 13, 2024

Easy to use....

Score 10 out of 10
Vetted Review
Verified User
Incentivized
Great reporting tool; straightforward to self-maintain the dimensional data.
Could be made simpler for versioning scenarios by applying a logic to data contained within a scenario for example.
Score 8 out of 10
Vetted Review
Verified User
Incentivized
Vena provides a means of standardizing and organizing data that otherwise isn't congruent. In acquisition led businesses where there is still legacy data structure to work through, Vena helps get everything into one common structure and language, regardless of system or data format.
March 09, 2024

Vena Review

Score 9 out of 10
Vetted Review
Verified User
Incentivized
Based on our experience Vena is well suited for our needs to create a budget for our organization that eliminated a lot of manual entry and piecing together of Excel spreadsheets. We are hoping to expand our use of Vena to include financial reporting as well, and have our finance stakeholders use Vena to access detailed information relating to their budgets and actual financial results. Vena may not be suitable for a very small organization with minimal complexity.
Score 10 out of 10
Vetted Review
Verified User
Incentivized
SMEs looking to add / build out an FP&A function should look to implement Vena. Even if systems across the board are not yet considered "best-in-class" Vena has the adaptability within the software to flex to the needs of the business. This is especially the case where there needs to be multiple data sources feeding into 1 system, such as finance, HR, sales etc.
January 05, 2024

Great FP&A tool

Score 10 out of 10
Vetted Review
Verified User
Incentivized
Vena is well-suited for financial planning, analysis, budgeting, and creating custom financial reports. It’s beneficial for medium to large-sized organizations. However, it’s less appropriate for on-the-fly ad-hoc analysis. Some users prefer offline spreadsheets for such tasks. It’s also less effective for predicting multiple uncertain outcomes but overall a great investment.
January 05, 2024

Happy Vena User.

Score 10 out of 10
Vetted Review
Verified User
Incentivized
I found the planning templates very useful. The out-of-the-box ones are well suited for a lot of uses, plus the ability to create your own and/or customize the existing templates is very valuable.
Shelly Sennikoff | TrustRadius Reviewer
Score 10 out of 10
Vetted Review
Verified User
Incentivized
Vena is very well suited to handle budgeting, forecasting, and reporting. The platform is very flexible, and I have been able to create some great reports that has allowed our team to deepen our analysis of our organization's performance. I also use Vena for other data storage and reporting, such as creating a site code directory for our field staff, developing an invoicing schedule for our AR department, and creating a workbook to facilitate calculating and reporting on our site staff mileage stipends.
Score 10 out of 10
Vetted Review
Verified User
Incentivized
Vena has been a great tool for us for both budgeting and monthly analysis. There are still a lot of functions that we are consistenly learning and will eventually use. It's been great talking with another Vena user and to see how they are using the system. From an FI standpoint, it's a little hard to use Vena for asset-liability management or calculation of new originations etc. since these are complicated formula and each product is tied to different rates and time frames, this has been a difficult portion for us to implement. but overall it has definitely saved a lot of time for monthly and budgeting reports and coordinating with all end users.
December 29, 2023

Vena Review

Score 6 out of 10
Vetted Review
Verified User
Incentivized
Vena is suited when displaying complicated data but the scenario in which it has to be taught is very difficult as well. As the learning aspect is quite difficult
December 28, 2023

Trust Vena

Score 8 out of 10
Vetted Review
Verified User
Incentivized
Vena made budgeting very efficient. Budget changes can be viewed in reports right away. Allocations are done instantaneously. Updating baseline and versioning are done very quickly. Saving Vena report to a local drive is not very straightforward and unprotect password each time is a pain point. Also, HR template can be redesigned differently. It is currently very complicated.
Stacy Taute | TrustRadius Reviewer
Score 10 out of 10
Vetted Review
Verified User
Incentivized
I would recommend Vena to any organizations that are larger than 100 FTE and have steady funding because this tool is not really affordable for a smaller organization and the non-profit discount is not large enough. I would also recommend it to any organization that spends a lot of their time maintaining or fixing errors in their budget. Vena makes it easy to spend less time making sure information is correct and/or consolidating data and more time analyzing trends. Vena can also help reduce the amount of manual report building an organization may have to do. In general, it is a wonderful tool that is constantly updating/improving and can help any organization increase their efficiencies.
Score 9 out of 10
Vetted Review
Verified User
Incentivized
Vena has not replaced our Excel workings but simply elevated it. By being able to apply work streams to specifics files and functions throughout our budgeting and reforecasting process, Vena has really streamlined this process. Additionally, this has added another layer of data integrity, reviews, and accountability for our teams. Being able to quickly update, pivot, adjust templates has been a life saver!
Score 8 out of 10
Vetted Review
Verified User
Incentivized
Vena has been great for our budgeting process and our reporting process. It is proving to be a little difficult on narrowing down who to use it from the departments due to the cost associated with each license.
December 14, 2023

It's the real deal!

Score 10 out of 10
Vetted Review
Verified User
Incentivized
Vena is well suited for structured reporting and dashboards. Vena is not well suited for on the fly ad-hoc analysis. Most teammates prefer to just manipulate off-line spreadsheets or Google sheets
Score 8 out of 10
Vetted Review
Verified User
Incentivized
Vena is especially useful if you have several sources of data that need consolidated-- you can easily load all your data to the cloud and then report on it.
Vena is a tremendous tool budgeting and forecasting as well. If you are looking to improve either of these processes, I am confident that this product will be of value to your business.
Score 10 out of 10
Vetted Review
Verified User
Incentivized
I use Vena to create revenue reports and that is very helpful in my work. When we first started using Vena in 2017, one of the instructors set up a template to help me with various components of our unallocated lab expenses. Unfortunately, I have not been able to use that templated effectively in my work.
Score 9 out of 10
Vetted Review
Verified User
Incentivized
Vena Solutions is well suited for companies that rely heavily on Excel. By creating standardized input forms and reports the user can feel confident that the Excel connections are correct and can be trusted.

Furthermore, with different users, access data can be well protected or shared as needed.
Heath Bieker | TrustRadius Reviewer
Score 9 out of 10
Vetted Review
Verified User
Incentivized
We have created several customized reports for our organization and plan to use Vena for our monthly variance analysis and annual budget process. The ability to create dynamic reports and manage our budgets/forecasts in one system while allowing end-user comments will save our team a ton of time and effort. The software is powerful, and the implementation team has been able to come up with solutions to all of our requests. The end-user interface is intuitive and easy to use, even for those users who don't typically work with excel.
Score 10 out of 10
Vetted Review
Verified User
Incentivized
Vena's strength lies in its ability to streamline budgeting and financial planning processes. It is well-suited for organizations that need to create, manage, and track budgets, perform forecasting, and consolidate financial data from multiple source
May 22, 2023

Vena Review

Score 9 out of 10
Vetted Review
Verified User
Incentivized
Vena Solutions is a friendly budgeting solution for less change resistance since it's backed up with Excel that is in everyone's skill set.
Score 7 out of 10
Vetted Review
Verified User
Incentivized
Vena is a very proficient budgeting and forecasting software. It also helps with automating various operating tasks that are Excel-based. However, there are limitations to it because you cannot quote Vena functions with Macro. Also, the task flow for Vena is a bit clunky and hard to use.
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