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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

Vena Solutions Review

10 out of 10
May 05, 2024
Incentivized
We currently use Vena for all our reporting and forecasting needs. We replaced our Excel forecasting template with a Vena template. We are …
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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)
    9.4
    94%
  • 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 Excel-based Reporting and 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 213)
Companies can't remove reviews or game the system. Here's why
Score 9 out of 10
Vetted Review
Verified User
Incentivized
We use Vena for everything on our organization, all the way from FP&A on the corporate side to time tracking for every individual. Every single one of us has to use Vena at least for the time tracking template and the rest use it on a daily basis, be it implementation or whatever is needed from it.
Score 8 out of 10
Vetted Review
Verified User
Incentivized
Vena is currently being used with our accounting system (Intacct) to both track project budgets and create automated financial reports. Right now it is just being used by the accounting and finance departments, but these reports are circulated to both internal and external users. It addresses the problem of us having to manually create financial statements each month by hard keying items into excel and dual entry by also entering all of our data into a separate budget tracking system.
Score 7 out of 10
Vetted Review
Verified User
Incentivized
We use Vena within our corporate department. This tool is used mainly for our FP&A and has been very helpful in streamlining our process for quarterly and budget reporting. Previously, we have been using Excel to perform our forecast and budget, but we always encountered problems with broken links and were also frustrated with having to update every single workbook in order for us to consolidate our results.
Jeremy Vance | TrustRadius Reviewer
Score 9 out of 10
Vetted Review
Verified User
Incentivized
Vena has replaced a manual Excel forecast template we used to have in place. It is widely used by the accounting department for budgeting/forecasting and financial analysis and reporting. It is also used by each department to update its quarterly forecast. It has significantly reduced time and errors from the manual process we had in place. We can easily track changes and see who inputted certain data. Vena is very simple to learn and requires little training for the end users since it is basically just like working in Excel.
Score 10 out of 10
Vetted Review
Verified User
Incentivized
Vena is an ad hox solution that helps my customers to improve the performance of the processes of reporting, forecasting, and budgeting. The specialized tools of cloud computing, in combination with the flexibility of Excel, make it the most successful tool for my clients.
Score 9 out of 10
Vetted Review
Verified User
Incentivized
Vena is primarily used by the Financial Planning and Analysis team within the Finance department. Vena was specifically chosen for FP&A due to its capabilities to streamline forecasting needs for the FP&A team and eliminate the need for a multitude of messy Excel workbooks. I primarily use Vena for financial planning and forecasting purposes.
October 11, 2022

Pretty cool

Score 7 out of 10
Vetted Review
Verified User
Incentivized
Used by the acct. department to quickly access files and tasks. The task list is very helpful. I mostly use it for keeping track of deadlines and knowing what comes next after a task. Vena also comes with a tab for instructions which provides a little more direction to completing tasks along with SOPs in the excel file. Syncing and downloading to and from Vena can take some time. Vena helps address the problem of managers having to find all the files in the folders and allows everything to be easily accessible by due date.
Score 8 out of 10
Vetted Review
Verified User
Incentivized
Vena is the corporate planning software used across the organization. It is used widely across the entire company and provides a great way to roll things up to a corporate level. The audit trail and control make it very easy to track and make sure that the different versions are explainable and can be communicated clearly to the executive team.
Score 10 out of 10
Vetted Review
Verified User
Incentivized
Vena is been used in our day-to-day management of the business. It has allowed us to have full transparency of our business with one source of truth. We also use it for consolidating and reporting our financials internally and externally. Vena has made it much easier for forecasting, budgeting, and modeling the business.
Score 9 out of 10
Vetted Review
Verified User
Incentivized
We utilize Vena for all of our operational budgeting across camping. It is the most helpful in forecasting throughout the year to accurately track expenses and make adjustments to the budget.
Score 9 out of 10
Vetted Review
Verified User
Incentivized
We use Vena to budget our operational and grant expenses, as well as process our annual compensation planning as part of our summer performance review cycle. We've also used Vena to plan our capital expense budgets and our detailed medical item and equipment procurement budget in the past. We have 200 users across 10 countries contributing to specific portions of the organizational budget. Vena's Excel interface allowed our users to adopt the platform quickly as we were able to build templates that mirrored our existing Excel templates, while also giving them the flexibility to use other Excel functionality that they're familiar with (i.e. using formulas to populate cells). From the administrative side of the platform, we were able to learn how to build and manage data models, templates and user permissions in multiple ways to suit the needs of our specific use cases. The ability to export and upload transactional data, hierarchies, users and user permissions makes things easy to manage as well. Vena also has robust system audit features that allow you to see what information was saved, by who, and when, making it easier to troubleshoot any issues that come up, particularly when multiple users are collaborating on the same data. The platform also allows you to see snapshots of what the data looked like down to 5 minute increments, which we've used a few times to restore data that was mistakenly overwritten in bulk - navigate to a date in the past, add some query language to narrow your search, export the data to confirm it's what you want and then re-upload it to get back to a good starting point. Vena's real time consolidation has also been a major win for us as we previously only updated our budgets once per month because the consolidation process was manual and very tedious. Since we started with Vena, our budgets are consolidated immediately, and we're able to automatically push that data to our data warehouse to be used for broader reporting. What used to be a once every 30 day process to update the organizational budget is now an automated process that happens each day - a user can enter a new budget line today and see it in our reports a day later. While we haven't yet pushed our accounting system's actual data into Vena yet, we see that as an opportunity in the future to allow users to use that information to immediately update their annual forecasts throughout the year. We also lean heavily on our data warehouse to build our broader reports, but are excited to explore Vena's Power BI embedded feature as it matures and once we are pushing accounting data into the platform. Beyond the technical aspects of Vena's platform providing a lot of flexibility and functionality, they've been a great partner to work with. They've built a customer community that allows customers across different industries to discuss best practices and new ideas, and have built a steady stream of webinars with industry experts. Their support staff have been responsive and knowledgeable and their knowledge base articles and Vena Academy (training) were helpful in getting us up to speed and as a way to keep up with new features.
September 15, 2022

Vena..

Score 7 out of 10
Vetted Review
Verified User
Incentivized
Vena is being used by our Finance and HR team; it helps us in Planning and budgeting. It helps us in comparing our financials and enhances cost-effective future budgeting. All the personnel and non-personnel expenses are very well managed; it also helps us in data integration and visualization, which in turn helps in decision-making.
Score 8 out of 10
Vetted Review
Verified User
Incentivized
We utilize Vena for budgeting across 18 countries and for consolidated reporting of our financials. Additionally, with the Power BI connector, we are able to bring our financial data, operations data from Salesforce, and HR data from our HRIS system into one environment. This allows us to create dashboards for each department, but also allows for a consolidated CPM use case.
Score 7 out of 10
Vetted Review
Verified User
Incentivized
We implemented Vena for the planning and budgeting process, reporting, and consolidation as well in combination with Fluence. On the other hand, we also use it for more non-financially driven functionalities like resource planning or project risk management.
Score 10 out of 10
Vetted Review
Verified User
We use Vena for all budgeting, forecasting and 95% of Financial Reporting with the remaining 5% to be introduced in Q3 of 2021. Prior to Vena, our budget process was very manual and financial reporting cumbersome and and in some instances, non-existent. Vena has been transformational for Saint Mary's. We have reduced our budget cycle from Months to Weeks and our Executive review time from weeks to days. In addition, we use Vena to improve financial processes for month end close, reducing cumbersome activities from days to hours or minutes, and perform deep analysis. We have dramatically reduced or eliminated time to compile information and have instead repurposed that time to perform more value-added analysis. Vena has been used to identify ineffective pockets of budget allocation and allowed us to reallocate those pockets to more strategic needs. We are currently expanding the use case beyond the FInance office to include Enrolment Projection and Faculty accreditation. Since first becoming a Vena customer in 2014, the software has received continuous enhancements and it continues to get better each quarter. In short, we love it!
August 26, 2022

Vena for Financials

Score 10 out of 10
Vetted Review
Verified User
Incentivized
Vena is used by the finance department for financial forecasting and reporting. This includes forecast hours, actual hours, and reporting (both by resource and by projects). Vena is used on a twice-monthly basis and goes through an approval/reviewer process.
Aaron Andersen | TrustRadius Reviewer
Score 8 out of 10
Vetted Review
Verified User
Incentivized
We are using Vena across the entire organization for internal management reporting, monthly variance analysis, budgeting, reforecasting, project Pro-forma planning, and we are building three-year-plan capabilities now. We have separate models for attendance projection, personnel planning, Capex planning, and finally a financial model where it all rolls up, and where non-wage expenses are planned. The small FP&A team manages the platform, and we make everything as self-service as possible for end-users. It is our FP&A system for all but GAAP financial reports.
Score 10 out of 10
Vetted Review
Verified User
Vena is used by our Finance and Accounting team for budgeting, forecasting, and variance analysis. The goal is to eventually provide Vena access to other departments so they can submit their own budgets. I am very new to the company and to Vena. I started in March of 2022 and have only been through training.
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