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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

(51-75 of 214)
Companies can't remove reviews or game the system. Here's why
Score 9 out of 10
Vetted Review
Verified User
Incentivized
  • Great representation of data
  • ETL can be done from many different ERPs which is great
  • Facilitates data analysis
  • Can create many different types of templates (Financial, Labor, Time tracking)
  • LIDs I find really confusing because they don't often work on the same way
  • Validation rules have issues when you add more than one
  • Form block expansion
Score 8 out of 10
Vetted Review
Verified User
Incentivized
  • Seamless integration with Intacct
  • Reports are easy to use in Excel
  • Automation of reports saves time
  • Reports can be difficult to create without extensive training
  • Protecting a sheet to eliminate end user errors is important, but it would be nice to still be able to make cosmetic changes easily
  • There is sometimes a delay in opening reports and loading new reports
Score 7 out of 10
Vetted Review
Verified User
Incentivized
  • Flows changes and updates to our forecasts seamlessly where we know the numbers are reflected in all of our reports.
  • Ability to create ad hoc custom reports.
  • Having the ability to pull different scenarios, periods, and years easily to have comparatives for better analysis.
  • Integrated well into excel where you don't feel like you're using a completely different tool.
  • Inability to collaborate with a teammate in the input templates.
  • Not integrated with word documents which would be helpful for our MD&A report.
Jeremy Vance | TrustRadius Reviewer
Score 9 out of 10
Vetted Review
Verified User
Incentivized
  • Simplified the budgeting and forecasting process.
  • Allows end users to run certain reports as needed.
  • Significantly reduced time and errors from manual processes.
  • Wish there was an option for multiple people to use a check-in and checkout file like a shared file.
  • Speed of report writing is not bad but could always use improvement.
  • Wonderful product that really does not need many things to improve on in the way that we currently use it.
October 13, 2022

It is fine

Score 6 out of 10
Vetted Review
Verified User
Incentivized
  • Easy reporting
  • Drill Down capabilities
  • Separating Departments
  • The setup - the product needs to be set up properly to gain full functionality
  • Hierarchy isn't always conducive to company hierarchies
  • It would be nice to be able to drill down into the ERP detail
Score 9 out of 10
Vetted Review
Verified User
Incentivized
  • Eliminate the need for messy Excel workbooks
  • Connecting data with ERP system like Oracle for financial data
  • Ability to share with multiple different users
  • "Contributor" only access limits information transparency and may not help the contributor understand the entire picture
October 08, 2022

Quick and short.

Score 7 out of 10
Vetted Review
Verified User
Incentivized
  • Vena is able coordinate budget users through workflow and setting deadlines.
  • Financial reporting is done through excel.
  • Vena is able to integrate with our custom software.
  • There is a steep learning curve for new users.
  • Interface can be more user friendly.
  • Need more help to address mapping issues on reports.
Mikhil Soni | TrustRadius Reviewer
Score 9 out of 10
Vetted Review
Verified User
Incentivized
  • Helps in managing demand and connects with Power BI
  • Let's us review Forecast and multiple users are able to upload it in the same time.
  • Pull reports and prepare strategy for both short term and long term.
  • Get automatic notifications for pending task.
  • I get frequent errors while check in of the file.
  • Vena Tab in MS Excel doesn't provide any information.
Score 10 out of 10
Vetted Review
Verified User
Incentivized
  • Control of Month-end close
  • Drill down of accounts
  • Consolidating
  • Controls of users and users group
  • Allow to flip the sign on balances
  • Easier copying and pasting of a whole sheet and the mapping
Score 9 out of 10
Vetted Review
Verified User
Incentivized
  • Flexibility - design the data model, templates, and permissions your organization needs
  • Usability - the Vena web portal is clean and easy to navigate, checking files in and out is straight forward, and users have adopted templates quickly
  • Community - from training, knowledge base, discussion boards, webinars, and repeating Customer Success calls, Vena stays in touch with customers regularly and uses feedback to improve the platform and partnership
  • Macros to Product features - some customers may need to build VBA macros within their templates to supplement specific actions within a template, though Vena actively reaches out to understand those use cases and considers adding those most common as product features
  • Integrations - Vena has been building native integrations to major systems over the past several years, but my team would have preferred an option to more simply connect to a SQL database and define all of the mapping ourselves (Vena API's were just announced so we might not be far away, but as yet have not been able to implement this type of integration)
  • Workflows - it might just be that my organization doesn't like to adhere to formal workflows processes, but we have yet to adopt them within Vena because the user's changes are committed to the database before approval and we don't want unapproved changes flowing into our data warehouse. If we could easily have unapproved data tagged in a way to keep it filtered out, that would make workflows more enticing
September 15, 2022

Vena..

Score 7 out of 10
Vetted Review
Verified User
Incentivized
  • Budgeting
  • Planning
  • Forecasting
  • Managing HRIS.
  • User Interaction.
  • Latency issues.
  • More interactive spreadsheet in Excel.
Score 8 out of 10
Vetted Review
Verified User
Incentivized
  • Easy to build templates or integrate existing templates
  • Workflow creator with approvals
  • Security controls - One template with many views based on a user's permissions
  • Excel based so easy to make the transition
  • Workflow management - The workflow status tracker is only available when logged into Vena and cannot be distributed through automated or scheduled email notification
  • Not mobile friendly - Since reports/templates are in Excel and require the add-in to view, you cannot access your data on a mobile device
  • Admin support for add-in - The add-in can be cumbersome for end users not familiar or used to working with more advanced features in Excel. Additional support and training are necessary to help users troubleshoot when data does not automatically appear when opening an Excel file.
  • License cost structure - Vena recently changed their licenses to include a view only license. This license is extremely limited and will not allow for simple approve/reject reviews. Additionally, the cost of 1 admin license (necessary to build workflows, templates, and reports) is excessively overpriced compared to the other offerings.
Score 10 out of 10
Vetted Review
Verified User
  • They are continually investing in the software.
  • They listen to their customers and incorporate their feedback.
  • They are fully engaged in their customers obtaining the maximum benefit from the software.
  • Their customer support team is very responsive and technically sound.
  • The introduction of Vena365Connect will solve a major weakness in the software as it will create a platform-agnostic environment allowing Mac users to finally use Vena to its full potential.
  • I would like to see more integration and more support with BI tools. They currently integrate with Power BI but beyond the bridge to link it, its really up to the customer after that. Easy linking to Tableau would be phenomenal.
  • More partner arrangements with clients to develop APIs for larger ERP systems to allow for the real time transfer for data into Vena.
  • Improved mobile experience for tablets.
August 26, 2022

Vena for Financials

Score 10 out of 10
Vetted Review
Verified User
Incentivized
  • Budgeting
  • Forecasting
  • Resource load
  • Costing
  • Reduce number of steps to be followed.
  • File expires too fast.
  • No way to retrieve the checked-out file once it expires or close by saying do not save to vena.
Aaron Andersen | TrustRadius Reviewer
Score 8 out of 10
Vetted Review
Verified User
Incentivized
  • Vena provides all the customizable flexibility and advanced calculation that you can squeeze out of Excel because Excel is used as the front-end. You can tailor the reporting and budget templates to your exact needs and leverage your existing Excel skills.
  • Even though you work in Excel, the data is all controlled by a multi-dimensional cloud database. So your work is safe. Changes are auditable, and nobody has to rely on sharing Excel files between each other and tracking the latest version.
  • Vena's workflow system can be extremely simple if that's what you need. Or you can build some fairly complex process flows for any task.
  • While they are working hard to bring the Mac Excel experience up to parity with the Windows Excel experience, it's not there yet. Mac Excel templates can't leverage all the functions that Windows Excel templates can... Unless you're on the Microsoft 365 platform. The newest version of Vena works in Excel 365 and provides identical experience for PC and Mac end users. Administrators and template designers still have to use the legacy add-in for some features, but they are slowly being migrated to Vena 365.
  • Integrations can be challenging to configure and update. Some rely on their own database language that is similar to SQL, but I don't know SQL. I work in Finance. Integrations are the area where I'm most likely to require support.
  • Some of our complex reports run and refresh quite slowly. Especially those that are very multi-dimensional and configured dynamically.
Score 10 out of 10
Vetted Review
Verified User
  • Easy to use.
  • Ensures latest version of a spreadsheet is the current version.
  • Great for variance analysis.
  • Some trainers are hard to understand.
  • Closed captioning should be included in all training modules.
  • I have only done Vena training, so I can't speak to live usage.
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