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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 213)
Companies can't remove reviews or game the system. Here's why
Score 10 out of 10
Vetted Review
Verified User
We use Vena in our monthly and quarterly forecast process. Besides finance, operations, supply chain, commercial, and procurement all use the product to input their relevant data input into Vena their respective Vena templates which consolidate the data and give us the answer much more quickly and accurately. Previously, there were 13 excel spreadsheets linked, saved in different folders, and constantly changing that needed to be updated and consolidated. This was an 8-hour process. After Vena, the time saved allows for more accurate information, more validating, and more analysis instead of chasing down issues with linked spreadsheets.
Score 9 out of 10
Vetted Review
Verified User
Vena is currently being used only by Accounting & FP&A in Finance. We were struggling to quickly and accurately consolidate, report, and analyze financial results with multiple subsidiaries under different systems and charts of accounts. Vena allows us to quickly do all of that quickly and accurately and with minimal manual effort compared to Excel (without Vena).
Score 10 out of 10
Vetted Review
Verified User
Currently, our finance and executive teams primarily use Vena. Our IT department has designated individuals to help us navigate and utilize Vena in the most appropriate manner. Vena is most used to process month-end. Vena has drastically shortened the month-end process by automating the process with far fewer errors. The executives use Vena to get a better visualization of forecasting and profit data.
Score 9 out of 10
Vetted Review
Verified User
Incentivized
We are using Vena to automate BvA reporting, quicken monthly reporting, and assist with monthly forecasting. We are using it across the whole organization to drive buy-in from the operations and help them connect to the cost-saving initiatives. Vena allows us to manage processes with strong task management features as well as quickly revise user-facing templates with the excel interface.
Score 9 out of 10
Vetted Review
Verified User
Incentivized
We currently use Vena for only our extensively detailed global recurring revenue model in the finance dept. Our model has always been very detailed, one of which excel alone can no longer handle. We moved the model onto Vena platform and resolved the file size issue by storing the data used in the cloud instead of on the spreadsheet. Vena's capability to dynamically expand wherever there is need to made maintenance of the model, reports, and templates much easier.
May 14, 2022

Top Notch Support

Steve Vosburg | TrustRadius Reviewer
Score 10 out of 10
Vetted Review
Verified User
We utilize Vena currently for the forecasting and budgeting process. We are looking to expand into month-end close procedures as well. Vena works very well for our purpose as it's in a tool we are very familiar with in excel.
May 14, 2022

Customer Review

Score 9 out of 10
Vetted Review
Verified User
Incentivized
We have currently implemented Vena for our finance team. It has greatly reduced the amount of manual work in spreadsheets and helped improve our finance reporting. The ability to expedite month-end reports has allowed us to send out reports in a more timely fashion, while at the same time exploring ways to create new reports that provide value add info for the users.
Noris Pasic | TrustRadius Reviewer
Score 10 out of 10
Vetted Review
Verified User
Incentivized
Vena is used by every department in our budget planning and reporting cycles. It is also used for Financial Reporting (Income Statement, Balance Sheet, Trial Balance, etc.). We have most recently added a Revenue Forecasting cube to our mix, and have had a very easy time getting both of our models talking to each other so that we can easily serve up the proper story to our end users.
Nicolas LEFEVRE | TrustRadius Reviewer
Score 10 out of 10
Vetted Review
ResellerIncentivized
Vena Solutions provides a complete EPM solution for companies looking for a financial, reporting, operational tool that is integrated with Excel. With Vena Solutions, you can plan, produce reporting, share, and communicate with all departments within a single solution.
Score 8 out of 10
Vetted Review
Verified User
Incentivized
Vena is being used by our accounting departments for budgeting and reporting needs. During the budget season, mill managers will use it to input their budget and the rest of the year accounting staff uses it for forecasting and for creating reports. Our current financial programs do not have a lot of report tools, so this has been very helpful to be able create/write useful tools.
February 24, 2022

Vena is Great!

Score 9 out of 10
Vetted Review
Verified User
Incentivized
In our organization, Vena is a cross-functional tool used to consolidate multiple entities, report entity, and consolidated performance, and prepare entity and consolidated budgets and forecasts.
Score 10 out of 10
Vetted Review
Verified User
Incentivized
Vena is currently an integral part of accounting and finance for our business. We utilize Vena for Account reconciliations, budgeting, report and forecast, planning, and analysis. In addition to the traditional uses, we have implemented data capture and flow-throughs for sales tax reporting, revenue balancing and entry, and various supplemental reporting. We have hooked in our Account payable system to provide a wider view when budget managers and auditors have questions on expenses.
February 23, 2022

Ven-tastic Experience

Score 9 out of 10
Vetted Review
Verified User
Incentivized
Departmental- Camping Operations. Vena solves our financial planning, reporting, forecasting, and analysis needs. It has revolutionized the way we interact with finances and has driven management decision-making. Cannot imagine managing operations without it.
Score 10 out of 10
Vetted Review
Verified User
Incentivized
We began utilizing Vena as the budgeting solution for our department in 2018. Within our department, we now utilize Vena for forecasting, reporting, calendar analysis, and capital project planning in addition to budgeting. While Vena is still mostly isolated to our department, leadership in other departments frequently uses the reporting packages we create within the tool. A huge business problem Vena addressed was further staff engagement in the budgeting process. What used to be completed by a Manager in a static Excel document with occasional commentary from their team is now a collaborative effort in which the team is completing their own budgets to feed roll-up reporting for the Manager. This has created greater ownership amongst our teams, centralized workflow, and increased the accuracy of our budgets.
February 22, 2022

Vena Review

Andrea Croak, CPA, MBA | TrustRadius Reviewer
Score 10 out of 10
Vetted Review
Verified User
Incentivized
We use Vena for our US Operation's internal PL reporting and financial planning processes. It helps us improve decision-making and automated our formerly manual processes. It also gives our contributor/BU owners access to more detailed information. We also use Vena for labor allocations which save us hours in our monthly financial close process.
Score 10 out of 10
Vetted Review
Verified User
Incentivized
Vena is used by all budget owners, but primarily accounting and finance. Today Vena is being used as our consolidation system for GAAP financial reporting as well as the main source for budgeting. As an organization, we have multiple ERPs and Vena allows us a simple customizable tool to sit at the center and aggregate data so there is a single source of truth that is not in excel and has detailed logging capabilities to track changes whether it's in budget, consolidation, etc.
February 21, 2022

Vena Budgeting Review

Score 10 out of 10
Vetted Review
Verified User
Incentivized
Vena is used at our company to manage and facilitate our annual budget process. Department leaders across the organization use it to enter their budget information and Vena automatically consolidates the data entry at a high level. This process alone saves me hours of work each year. Additionally, department leaders can access a report that shows monthly budget vs actuals and allows for the drill-down capability to the GL detail level.
February 21, 2022

Vena - Would recommend

Score 10 out of 10
Vetted Review
Verified User
Incentivized
Vena is used by our various department leaders for their input into the annual budget process both for people planning and operational expenses. The department leaders also review actual financial results on a monthly basis, including transaction-level detail. Further, the Finance team uses Vena for a detailed review of account activity.
Score 10 out of 10
Vetted Review
Verified User
Incentivized
Vena is being used in a few ways. It is used for Annual Budget and Quarterly Forecasting. It is used for daily sales reporting by customer/product It is used for workforce planning It is used for Financial Statement consolidation and reporting. In all these areas it is the Finance team utilizing the tool and updating Vena while other senior leaders use it for view reports
Score 9 out of 10
Vetted Review
Verified User
Incentivized
Vena enables our finance and accounting team to quickly and accurately display data for our entire organization. Before Vena many reports would take entire days to compile, now with Vena, we have those reports made in seconds. Creating reports is simple and new reports to fit users' needs can be made easily. As our team learns more about Vena, we continue to find new use cases for our business. Viewing Vena reports is fairly user-friendly also. Even employees who are not extremely tech-savvy are still able to work with Vena and utilize Vena's reports.
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