Great Automation Tool for Data Consolidation
January 07, 2022
Great Automation Tool for Data Consolidation
Score 9 out of 10
Vetted Review
Verified User
Overall Satisfaction with Vena
We used Vena in our financial reporting department at a large bank with hundreds of departments. Vena was used throughout the whole organization and helped us tremendously to consolidate numbers obtained from numerous teams. Without Vena, it would be very difficult and time-consuming to collect financial information at such a large organization.
- 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
Do you think Vena delivers good value for the price?
Yes
Are you happy with Vena's feature set?
Yes
Did Vena live up to sales and marketing promises?
Yes
Did implementation of Vena go as expected?
I wasn't involved with the implementation phase
Would you buy Vena again?
Yes
- Helped automate accounting workflow
- Helped save time and resources
- Helped improve data quality and helped avoid errors
Vena definitely helped up speed up and automate the data submission process which resulted in faster filings of financial statements with the SEC. Also, Vena helped us reduce errors in data submissions which resulted in better data quality and eliminate delays in data re-submissions and error corrections which helped the bank make certain critical internal financial decisions faster. Overall, Vena brought a lot of efficiencies into the finance function of the bank and helped the finance team focus on more important tasks than data submission and consolidation.