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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

(26-50 of 213)
Companies can't remove reviews or game the system. Here's why
Score 8 out of 10
Vetted Review
Verified User
Incentivized
Vena is currently being used by our Finance and Accounting Department currently. We use it to forecast our capital spend for construction activities that also involve the feedback and input of many other departments. Using Vena has allowed us to remove all forms of manual manipulations of data and allowed us to refocus efforts into providing value add analysis without tedious repetitive work to produce. The workflow allows for many users to provide their input as well as allow for proper audit controls. Our custom reports that we built were created to poka yoke the process of reporting and make it as easy on our users as possible.
Score 9 out of 10
Vetted Review
Verified User
Incentivized
Vena is being used across all departments at the corporate level. As a part of the finance team, I help oversee usage of Vena by a variety of contributors in nearly all departments. We use Vena to connect data contributors, analysts, and data consumers so there is only one source of truth to maintain. There are a variety of problems addressed, including annual planning and budgeting.
Score 9 out of 10
Vetted Review
Verified User
Incentivized
We use Vena for Financial Reporting, Operational Budgeting and just recently Forecasting. Vena is mainly used by the Finance team with annual input from the manufacturing plants for budgeting purposes. All levels of the organization have access to statements or reports specific for their department. This has kept information consistent and accurate.
Score 10 out of 10
Vetted Review
Verified User
Incentivized
The Finance department uses Vena for budgeting and planning, ad hoc reporting, expense analysis, financial statement reporting, and reconciliations. Other departments in the organization use Vena during the annual budgeting process and for monthly expense review and reporting. It provides a standard format to reference across departments and easily compare.
Score 10 out of 10
Vetted Review
Verified User
Incentivized
Vena was started as a financial planning tool being used by finance but it has since began to be noticed by other departments and will soon be adapted for company-wide usage. Vena allows our business to collect multiple sources of data into one centralized location, this allows the business to be more efficient - saving us time and ultimately money. It also allows us to display KPI's and provide dashboards across the organization for instant gratification for managers and execs alike.
Brandon McManus | TrustRadius Reviewer
Score 8 out of 10
Vetted Review
Verified User
Incentivized
Vena is used by Finance and accounting, it is used for budgeting and is beginning to be used for financial analysis and reporting in the accounting department. It solves our need to handle our workload by simplifying tedious tasks and better organizes our financial data so that it can be better utilized by stakeholders in the company
May 11, 2023

Good platform

Score 9 out of 10
Vetted Review
Verified User
Incentivized
Vena is primarily administered by the finance team manager; however, it serves as a valuable tool for contributors across the organization. Our team utilizes Vena for budgeting, forecasting, and reporting to address a variety of business challenges. Its functionality and flexibility make it an essential part of our financial management process.
Score 10 out of 10
Vetted Review
Verified User
Incentivized
Vena is being used for Consolidated company financial statements, divisional and locational financial statements, budgeting and forecasting. It is primarily in the control of the accounting departments but sales and operations all have reports designed and suited to their financial reporting needs. This keeps everyone in the same platform and viewing the same data without having to create their reports or rely on inaccurate information.
May 11, 2023

Vena review

Score 9 out of 10
Vetted Review
Verified User
Incentivized
Our organization uses Vena for budgeting, forecasting, FP&A, and balances and transactions reporting. In November of each year we distribute fillable budget templates to our budget managers who populate them with their applicable budget and supporting documents. We also use Vena to forecast our approaching year ends in a similar manner.
Score 8 out of 10
Vetted Review
Verified User
Incentivized
Vena is used in the Financial statement, financial planning and budgeting functions of my organization. It is used by both the operations and finance teams at the organization, and allows us to relay dashboards and map workflows in the department.
Score 7 out of 10
Vetted Review
Verified User
Incentivized
Vena is being used to help with budgeting and forecasting in my department and also acts as a way to obtain information from our ERP system. It is currently being used in our accounting and finance team. It saves a lot of time during month-end processes when we need to summarize accounting balances and do variance analyses because Vena is able to summarize and compare them all in one report as opposed to generating several reports to produce the same outcome.
Score 9 out of 10
Vetted Review
Verified User
Incentivized
We currently use Vena for all our reporting and forecasting needs. We replaced our Excel forecasting template with a Vena template. We are very pleased with the consolidation help the software provides and recently decided to have all of our raises and reviews done in Vena, which allowed for significantly more visibility on the data integrity.
Mohamed Salem, CFA | TrustRadius Reviewer
Score 10 out of 10
Vetted Review
Verified User
Incentivized
We use Vena across the organization in different capacities: Budgeting and forecasting by department for OPEX, CAPEX, and Workforce. For variance reporting and analysis by department, entity, and consolidated. For Executive and Board reporting, standalone and consolidated. We implemented Vena 3 years ago, which completely automated our budgeting process and financial reporting. It also enhanced our security and how financial and HR data are transmitted across the organization. We have two entities with two different currencies and almost 20 departments in each country. Vena helped us in breaking the budget to smaller pieces and enabled us to handle the increasing numbers of departments and users who manage budget. If I would to replace Vena and go back to manual budgeting and reporting, I would need at least 4 more people on my team.
Henry Anthony Simmons Green | TrustRadius Reviewer
Score 8 out of 10
Vetted Review
Verified User
Incentivized
With Vena Solutions, I have the knowledge of well-documented financial analysis. I can establish parameters for better compliance with our goals and cost savings. We use it for SOX compliance. We always viewed the daily data reports and monthly I have a good statistical analysis of the monthly reports. The only thing wrong with Vena is the long learning curve.
Score 10 out of 10
Vetted Review
Verified User
Incentivized
Vena is being used by the Finance department to produce monthly management reporting including financials and KPIs. Primarily, it is the central source for all management information. Additionally, we produce flash forecasting and are building out all of our financial reporting within it.
Score 8 out of 10
Vetted Review
Verified User
Incentivized
VENA is used within Finance as a tool for Management Account reporting; its also used as Budgeting and Forecasting tool to consolidate the figures from multiple teams and pull together useful reports for the Management team. We also use it for Payroll to log hours to check the status of the traincrew hours.
Score 9 out of 10
Vetted Review
Verified User
Incentivized
We used Vena as a powerful tool to share and facilitate financial statements across the entire company. From sharing balance sheets, income statements, and cash flow, and devising templates in order to pull in budget information across the organization's departments, Vena has made it easy to organize the flow of information contribution from our entire organization.
October 28, 2022

My Vena review.

Score 8 out of 10
Vetted Review
Verified User
Incentivized
Dear Folks, Vena is used in my whole organization as a product sales tracker; we have all sales records in it, including the upcoming projects, etc. We can easily manage and track the record of our business as per SKUs, brands, and therapy areas. It is linked to our different project management software to keep all data in line. I would suggest Vena come up with more formulas and be more automated so that new users can easily understand the process of downloading the reports and the entire Vena system. Regards, Nagma
Score 10 out of 10
Vetted Review
Verified User
Incentivized
We are a consulting company formerly called The DB Group and we implement solutions to clients using Vena. We also teach the client how to use it for them to keep maintaining and adding new templates/processes. We are currently implementing it on our new parent company, Citrin Cooperman. It has helped organize data internally and get much more insights.
October 26, 2022

VENA tool for FP&A.

Score 9 out of 10
Vetted Review
Verified User
Incentivized
VENA is used as a financial reporting and consolidation tool. Primarily for GL data but expanding to other uses in the organization (i.e., Human Resources, Sales Team). VENA is really powerful at consolidating the different data from the different data sources and ERP systems, consolidating in one place for easy reporting and analysis of financials.
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