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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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Learn from top reviewers

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

Reviewer Pros & Cons

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Video Reviews

1 video

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

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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.

7.7
Avg 7.9

Ad-hoc Reporting

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

7.8
Avg 8.3

Report Output and Scheduling

Ability to schedule and manager report output.

8.7
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.

7.9
Avg 7.6

Access Control and Security

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

8.9
Avg 8.7

Mobile Capabilities

Support for mobile devices like smartphones and tablets.

8.1
Avg 7.7

Budgeting, Planning, and Forecasting

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

8.5
Avg 8.3

Consolidation and Close

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

7.9
Avg 7.9

Financial Reporting and Compliance

Financial statements and regulatory filings

8.3
Avg 8.2

Analytics and Reporting

Dashboards and scorecards for KPI monitoring and benchmarking

7.9
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 CPM platform that streamlines financial and operational planning, reporting and analysis processes.


Top Solutions:
  • Budgeting and Forecasting
  • Financial Reporting
  • Financial Close Management
  • Business Analysis and Insights
  • Cash Flow Planning

Top Features and Benefits
  • Native Excel Interface
  • ERP, GL, HRIS & CRM Integration
  • Scenario Modeling
  • AI-Powered Assistant for FP&A
  • Microsoft PowerBI and PowerPoint Integrations

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 Operational Expenses - Drill through analysisScreenshot of Process Status DashboardScreenshot of Corporate DashboardScreenshot of Vena for PowerPointScreenshot of Audit TrailsScreenshot of Cash Flow StatementScreenshot of

Vena Videos

Introduction to Vena Complete Planning
Introduction to Budgeting in Vena Complete Planning
Vena for SaaS - Financial Reporting and Reporting Made Simple

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 Excel-based Reporting 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

(338)

Community Insights

TrustRadius Insights are summaries of user sentiment data from TrustRadius reviews and, when necessary, 3rd-party data sources. Have feedback on this content? Let us know!

Live Changes: Users have appreciated Vena's ability to allow contributors to make live changes, making it easier for the finance team to track and consolidate budgeting data effectively. This real-time collaboration feature has streamlined communication and increased efficiency in financial processes.

Powerful Data Management: Reviewers have found Vena's robust data management capabilities instrumental in enhancing forecasting accuracy by leveraging advanced analytics and forecasting models. The system's analytical tools have empowered users to make more informed decisions based on reliable data insights.

Consolidation Feature: The consolidation feature in Vena has been highly praised by users for saving significant time previously spent manually consolidating spreadsheets. By automating this process, Vena has enabled teams to focus on strategic analysis and decision-making rather than tedious manual tasks.

Training and Resources: Users have consistently expressed a need for more training and resources to fully leverage Vena's capabilities. Some users feel that additional workshops and comprehensive training would enhance the user-friendliness of the platform.

Template Complexity: Several reviewers have found the templates in Vena to be overly complex and not intuitive, particularly with unclear definitions of dimensions. Simplifying templates and providing clearer instructions could improve user experience.

Performance Issues: There is feedback regarding slow performance when dealing with large and complex files, causing frustration among users. Enhancements to optimize system speed, especially when handling extensive data sets, are requested by many customers.

Reviews

(1-25 of 228)
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Not happy with Vena

Rating: 1 out of 10
September 30, 2024
CR
Vetted Review
Verified User
Vena
5 years of experience
  • The cost was high for our usage. Part of that was our fault.
  • Since our ERP was not capable of generating the reports we need, Vena was very helpful.
  • Data is updated quickly.

Vena - Excel Modeling's Partner

Rating: 9 out of 10
September 25, 2024
CC
Vetted Review
Verified User
Vena
1 year of experience
  • Excel-only model stopped functioning due to file size and formula errors, Vena allowed us to continue the core of the model while storing the data in cloud and dynamically expanding to accommodate the growing price plans of our product.
  • Cascade report feature allows time saved running multiple slices of the same report automatically.

Vena provides flexibility and efficiency to focus on what actually matters

Rating: 9 out of 10
September 20, 2024
BE
Vetted Review
Verified User
Vena
5 years of experience
  • Our FP&A team spends far more time doing actual analysis rather than logistical cleanup or consolidation of data
  • Our budget data pipeline process for reports went from a monthly manual process to a daily automated process
  • Vena has set us up to be able to create multi-year budgets which would have been extremely tedious and we likely wouldn't have had the capacity to pursue if we had continued with our pre-Vena budgeting methods, which were focused just on annual planning

Ven-tastic Experience

Rating: 10 out of 10
September 20, 2024
Verified User
Vetted Review
Verified User
Vena
5 years of experience
  • More timely decision making
  • Greater collaboration between department leads
  • Interactive forecasting that drives business operations
  • Revenue growth through sophisticated analysis that drives behavior change

Vena Solutions: SIMPLE, EFFECTIVE, DYNAMIC, POWERFUL!

Rating: 9 out of 10
September 19, 2024
Verified User
Vetted Review
Verified User
Vena
4 years of experience
  • Our budgeting cycle is much more streamlined from an accounting perspective. We are able to focus more on analysis of the budget rather than spending so much time on building a budget that may have many flaws.
  • The fact that we can keep our operational managers engaged in their financial results is terrific. We are making information available to them faster than ever before. This allows them to make decisions and push initiatives that are important to them.
  • We continue to have support from our CFO working to better utilize Vena to improve our company.

New User to Vena Solutions

Rating: 10 out of 10
September 18, 2024
SM
Vetted Review
Verified User
Vena
1 year of experience
  • The overall experience of Vena after using it. It totally saves so much time and effort for the management side and that increase lot of time for us to do more analysis instead of importing data and managing data for accuracy.

Financial advantage with Vena

Rating: 9 out of 10
August 13, 2024
Verified User
Vetted Review
Verified User
Vena
1 year of experience
  • Automations saved a lot of agent time which translates on revenue.
  • It hosted its self infrastructure so you don't need to spend on on-premises setups.

Vena's use case lies beyond financial management, and towards better decentralization

Rating: 9 out of 10
June 07, 2024
Verified User
Vetted Review
Verified User
  • Surely improving efficiency in the financial processes would be one of its impact
  • In terms of time, we were able to reduce our workforce in the previous financial management and save an average of 3-4 hours
  • Increased regulatory compliance has made our processes transparent and thus being recognized as startup friendly by the state government

Really useful Product.

Rating: 10 out of 10
June 05, 2024
MS
Vetted Review
Verified User
Vena
2 years of experience
  • It has augmented our productivity by 30% automatizing several products.
  • It has been really helpful regarding saving time, between 10-30% time saving solution.
  • It has been long-term beneficial for our company in terms of resource usage by the IT team.

Vena product review.

Rating: 10 out of 10
May 29, 2024
Verified User
Vetted Review
Verified User
Vena
5 years of experience
  • Positive ROI. got our investment back in 2 years.
  • Significant time savings.
  • Better end user enablement.

Vena for Business

Rating: 8 out of 10
May 20, 2024
Verified User
Vetted Review
Verified User
Vena
4 years of experience
  • It has drastically improved our process throughput time
  • It has been a great return on investment by allowing us to be more lean in FP&A

Ease of Use

Rating: 10 out of 10
May 20, 2024
KG
Vetted Review
Verified User
Vena
5 years of experience
  • One location for reporting
  • IT resources freed time as we are able to manage
  • financial processes done quickly

Finance Manager

Rating: 8 out of 10
May 20, 2024
Verified User
Vetted Review
Verified User
Vena
1 year of experience
  • More accurate reporting
  • Time saved internally in Finance
  • Time reallocated to allow for additional strategic conversations
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