Vena - finally time to analyze my data
November 27, 2020
Vena - finally time to analyze my data
Score 10 out of 10
Vetted Review
Verified User
Overall Satisfaction with Vena Solutions
Vena is being used at our company as a financial reporting and consolidation tool. We have entities around the world, and tool helps us commonize and consolidate financials. We also use the tool to distribute various reports related to human resources, pricing, and inventory management. The flexibility of the tool allows for self-service and self-development of reports.
- 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.
- Time can be spent analyzing data rather developing reports over and over.
- In house excel expertise allows for self development of reports.
- Quicker month end process as data is more readily available.
The vendor has quarterly touch points with us to listen to how in-house development is going and give advice on how to proceed. We also have a period call with the development team to provide input on what we are working on to help shape the direction of certain parts of the development of the tool in the future.
The management team spends less time debating the numbers themselves, as Vena has provided one version of the truth for everyone to comment on. The allows for more agility in making decisions as the company has a better understanding of where the business is currently sitting. Financial data is also more easily distributed through the company allowing for everyone to be in loop.
The only tools that are similar are more in the BI realm and Vena provides a much more robust way of interacting with data that the visualization that a BI solution provides. Again, the self-service model of the tool allows for the tool to grow with the individuals of the company, which is an element other tools struggle with.