Vena is perfect for Budgeting and Forecasting
January 06, 2022

Vena is perfect for Budgeting and Forecasting

Jeremy Vance | TrustRadius Reviewer
Score 9 out of 10
Vetted Review
Verified User

Overall Satisfaction with Vena

We currently use Vena for Financial Reporting and Forecasting. We have over 70 departments and are easily able to send reports to each department head with the click of a button and have them submit changes back to us. What used to take us over a whole day of compiling reports and emailing them out manually, now just takes the click of a button. It has tremendously improved our forecasting process. We are able to track any change made by any user also.

Pros

  • Budgeting and Forecasting.
  • Financial Reporting.
  • Ease of Use - similar to excel so little training needed.

Cons

  • 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.

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?

Yes

Would you buy Vena again?

Yes

  • Able to create reports more timely.
  • Saved numerous hours having automated reports.
  • Made forecasting a lot more efficient.
Vena worked with us to get the system integrated with or ERP system. They created reports and worked with us to create reports so that we would know how to create them ourselves. The implementation went very smoothly with little to no hiccups. Their customer service is excellent and they respond back to you in a timely manner.
Reports that used to take a whole week of pulling data and putting together, we now have the capability of running once our month-end close process is complete. We have created dashboards for our board members that are automatically updated with actuals and budget comparisons with the click of a button.
We looked at several other vendors before selecting Vena. Vena looked the most promising because it is basically like you are just working in Excel. This allowed us to just send out a note to all of our users and have basically no training. Everything looked familiar to each user and they were able to complete their tasks with no questions.
Our forecasting used to be a manual process just using excel templates. We implemented Vena and were able to keep the same templates but add the specific Vena tools to get the template to pull the data. This made it possible to basically have no training for the users. We have been able to create reports that save us numerous hours.

Vena Feature Ratings

Long-term financial planning
9
Financial budgeting
9
Forecasting
9
Scenario modeling
9
Management reporting
9
Financial data consolidation
9
Journal entries and reports
8
Multi-currency management
9
Intercompany Eliminations
Not Rated
Minority Ownership
Not Rated
Local and consolidated reporting
9
Detailed Audit Trails
9
Financial Statement Reporting
8
Management Reporting
8
Excel-based Reporting
10
Automated board and financial reporting
9
XBRL support for regulatory filing
Not Rated
Personalized dashboards
9
Color-coded scorecards
8
KPIs
Not Rated
Cost and profitability analysis
8
Key Performance Indicator setting
8
Benchmarking with external data
8
Flat file integration
8
Excel data integration
8
Direct links to 3rd-party data sources
8
Pixel Perfect reports
Not Rated
Customizable dashboards
8
Report Formatting Templates
8
Drill-down analysis
8
Formatting capabilities
9
Integration with R or other statistical packages
Not Rated
Report sharing and collaboration
7
Publish to Web
Not Rated
Publish to PDF
Not Rated
Report Versioning
Not Rated
Report Delivery Scheduling
Not Rated
Pre-built visualization formats (heatmaps, scatter plots etc.)
Not Rated
Location Analytics / Geographic Visualization
Not Rated
Predictive Analytics
Not Rated
Multi-User Support (named login)
9
Role-Based Security Model
Not Rated
Multiple Access Permission Levels (Create, Read, Delete)
Not Rated
Single Sign-On (SSO)
Not Rated
Responsive Design for Web Access
Not Rated
Dashboard / Report / Visualization Interactivity on Mobile
Not Rated

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