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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

(101-125 of 214)
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Score 9 out of 10
Vetted Review
Verified User
Incentivized
  • User friendly Excel based software
  • Easy to fill and auto-fill numbers
  • Lots of available financial templates
  • Any template that needs to be customized requires involvement of Vena support
  • Training of new users can be hard due to limited number of trainings
  • The process of submission of financial templates is somewhat complicated
Score 9 out of 10
Vetted Review
Verified User
Incentivized
  • Vena is easily adoptable by new users because it is Excel based. Staff are not intimidated by the software.
  • It's easy to distribute monthly reports to the staff with Vena's workflows and Report Books. Once those are set up, distributing monthly financials to individual departments is an easy process.
  • It's easy for us to upload data from our accounting system - at the transaction level - to Vena. We simply download a file from our accounting system and upload it into Vena. Whatever manipulation of the data that's required is done by Vena. We don't have to do anything.
  • Vena's customer service is excellent. Their customer service reps. are pretty good and I will say they are fair-minded during contract renewals. I never feel like they're gouging me. They are decent people to work with.
  • Because Vena continues to experience tremendous growth it is hard (at times) to get access to their internal consultants on a timely basis. It's also hard (if not impossible) to work with the same consultant on an ongoing basis as Vena assigns consultants as they become available to do the work.
  • Because of their growth, the Vena staff is constantly expanding. So, in the five years I've been with Vena, I've had at least six customer service reps... It's not the worst thing but it feels like I'm starting over every year.
  • Vena's software is constantly being upgraded. That's a good thing but I think they might be able to do a better job of providing online training and other training resources.
Score 9 out of 10
Vetted Review
Verified User
Incentivized
  • Budgeting and Forecasting.
  • Financial Reporting.
  • Ease of Use - similar to excel so little training needed.
  • Wish reports could be sent to non-users.
  • Our system is not cloud based, so a nightly dump is needed.
  • Wish there was a way we could have a hybrid shared report that multiple users could make changes to and be in the file at once instead of check-in and check out.
January 06, 2022

Vena is great!

Score 9 out of 10
Vetted Review
Verified User
Incentivized
  • Easier to make sure work is uniform between multiple employees.
  • Easier calculations and less need for manual updating.
  • Easier to manage payroll.
  • Lets us create report to paste into presentations.
  • Loading time.
  • Crashing.
  • Opening multiple reports at the same time with ease.
December 14, 2020

Vena - A Godsend!

Score 8 out of 10
Vetted Review
Verified User
Incentivized
  • Easy to use.
  • Cloud based.
  • Neat yet powerful.
  • Improving minor glitches.
  • Availability for MAC users.
  • Improving Power BI connector to have full seamless version.
November 27, 2020

Fantastic product!

Mani Alkhafaji, CA | TrustRadius Reviewer
Score 10 out of 10
Vetted Review
Verified User
  • Data integrity through database.
  • Standardized templates.
  • Workflow and delegation of approval.
  • Traceability and drill down functions.
  • Continue improving template performance and speed.
  • Improvement on dashboards.
Score 10 out of 10
Vetted Review
Verified User
Incentivized
  • It is a familiar feeling as it uses excel as the front end.
  • The ability to develop reports in house makes the tool very flexible.
  • Powerful consolidation tool which allows for easy distribution of information.
  • Performance can be slow once reports get too complex.
  • Per user pricing can get expensive if users are not using the tool for a wide variety of purposes.
November 26, 2020

Vena for Excel lovers

Score 9 out of 10
Vetted Review
Verified User
Incentivized
  • Flexibility and easy to use, mostly thanks to Excel.
  • Easy access for users to high level financial information and detailed transactions.
  • Planning functionalities (full budget and rolling forecast).
  • Workflows.
  • Integration with other software.
  • Technical glitches.
Score 10 out of 10
Vetted Review
ResellerIncentivized
  • Auditing is something Vena does extremely well. There is the ability to see data changes and template changes with just a few clicks. Most technologies have audit log files, which can be cumbersome to navigate.
  • Drilling to details is a feature available to users. A user can view all the general ledger transactions for a particular account, department, time period, etc. just by clicking on the intersection in Excel and using the Vena toolbar button Drill -> Transactions.
  • Comments and Attachments allows users to add a comment and/or insert an attachment such as a PO, invoice, or receipt for example. This way the contributor and reviewer can easily see the justification and support for a number that has been planned. It's all in one place and means there is no need to email the support as a separate file.
  • In Report Books, the option to run reports as PDF would be helpful.
  • In Report Books, the option to add more than one report to the book would be extremely useful. Currently, users receive multiple emails because we can only have one report per book.
  • In Report Books, the ability to output files to a directory rather than sending them via email would be a nice enhancement.
Jeremiah Adrian Howard Ross | TrustRadius Reviewer
Score 10 out of 10
Vetted Review
Verified User
Incentivized
  • Optimal connection with our ERP system.
  • We perform detailed month-end analyzes to optimize our budget requirements.
  • Good data spectrum to model and map in Excel.
  • It is overwhelming for inexperienced users.
  • It takes a while to load the templates.
  • It can improve much more, but they are not serious problems that cannot be solved with a little training to all users.
Charlotte Byrne Brown | TrustRadius Reviewer
Score 9 out of 10
Vetted Review
Verified User
Incentivized
  • Professional platform, pleasing to the eye of the user.
  • Great facility to unify team members in the cloud.
  • Quick communication with technical support, no matter if the problems are not resolved--they attend quickly and I like that.
  • We have consulted with team members and agree that the Vena Solutions team should think of something to improve and unify project management.
  • It takes time to create complex templates.
  • I would like to have a smaller configuration at startup.
Score 6 out of 10
Vetted Review
Verified User
Incentivized
  • Consolidated all budget inputs into various reports.
  • Once setup, it's easy for department heads to input their budgetary inputs.
  • The system's UI is a bit complicated and will take time to become familiar with.
  • Any significant changes will need to be handled by Vena's implementation team, which will incur additional costs.
  • As of May, 2020, Vena is not very compatible with Apple Computers.
Score 7 out of 10
Vetted Review
Verified User
Incentivized
  • Easy integration into MS Excel as an Add-In.
  • Organizes data into blocks that can be quickly modified to view data from multiple angles.
  • Knowledge base with both customer input and professional advice that can help with troubleshooting.
  • Vena is data driven. Without another software, you can not issue financials statements with an MD&A.
  • Inputs into Vena are helpful, but it can be complicated to build that into a template for updating by end users.
October 16, 2020

Easy to deploy

Score 3 out of 10
Vetted Review
Verified User
Incentivized
  • Uses Excel as the primary user interface.
  • Allows business users to create templates and pull out the data easily.
  • Provides some reporting about when tasks are late.
  • Needs better reporting on the status of tasks.
  • Should notify users when they have a past due task.
  • Does not work well if you have too much data (intersection points).
  • Hard to audit user security when you have 200+ users.
  • Difficult to manage a large process with many activity blocks.
Zahid Khandoker | TrustRadius Reviewer
Score 10 out of 10
Vetted Review
Verified User
Incentivized
  • Centralized Database where all the data is converted into your data model instead of the accounting software.
  • Workflow Management where input processes and review processes are predetermined.
  • Predetermined caritas for budget requirement.s
  • More detailed instruction manual to build personalized reports.
  • Live chat bar.
  • Daily Backup
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