Vena drives better budgeting, forecasting and scenario building
February 21, 2022

Vena drives better budgeting, forecasting and scenario building

Anonymous | TrustRadius Reviewer
Score 10 out of 10
Vetted Review
Verified User

Overall Satisfaction with Vena

Vena is being used in a few ways. It is used for Annual Budget and Quarterly Forecasting. It is used for daily sales reporting by customer/product It is used for workforce planning It is used for Financial Statement consolidation and reporting. In all these areas it is the Finance team utilizing the tool and updating Vena while other senior leaders use it for view reports

Pros

  • Consolidation of multiple ERP financial data into one reporting tool
  • Robust and detailed Budgeting & Forecasting in a timely fashion
  • Quick reporting of Sales data

Cons

  • Better ability to add commentary and provide explanation to the numbers

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

  • As we feed our ERP financial data in nightly with very few issues it has been a smooth transition with no maintenance cost
  • We have been able to bring on other acquired entities and build out our own Cube, allowing for consolidated reporting and staff consolidation
The support has been great. We have quarterly calls just to touch base on how we are using the Vena tool and if there is anything happening in the short term or long term where Vena can support. If there are they are quick to get resources in touch with me to support or provide guidance on options moving forward
It has allowed us to be more detailed with revised forecasting and also forecast more often. This allows us to have a clearer picture of where we are trending and to build out some what-if scenarios.
Organizations that have multiple ERP systems or heavy consolidation requirements are well suited to Vena as you can build the rules and then consolidation just occurs as part of the report. Also, companies with either detailed budgets or ongoing forecasting requirements can benefit from Vena as the process is easy to manage and well-controlled. Less appropriate would be heavily detailed sales reporting as the cube format can limit the number of variables you can report on easily.

Vena Feature Ratings

8.8
Long-term financial planning
7
Financial budgeting
10
Forecasting
10
Scenario modeling
10
Management reporting
7
9.3
Financial data consolidation
10
Journal entries and reports
8
Multi-currency management
Not Rated
Intercompany Eliminations
10
Minority Ownership
Not Rated
Local and consolidated reporting
Not Rated
Detailed Audit Trails
Not Rated
7.3
Financial Statement Reporting
8
Management Reporting
6
Excel-based Reporting
8
Automated board and financial reporting
Not Rated
XBRL support for regulatory filing
Not Rated
7.0
Personalized dashboards
7
Color-coded scorecards
Not Rated
KPIs
Not Rated
Cost and profitability analysis
Not Rated
Key Performance Indicator setting
Not Rated
Benchmarking with external data
Not Rated
10.0
Flat file integration
10
Excel data integration
10
Direct links to 3rd-party data sources
Not Rated
Not Rated
Pixel Perfect reports
Not Rated
Customizable dashboards
Not Rated
Report Formatting Templates
Not Rated
7.7
Drill-down analysis
7
Formatting capabilities
10
Integration with R or other statistical packages
Not Rated
Report sharing and collaboration
6
Not Rated
Publish to Web
Not Rated
Publish to PDF
Not Rated
Report Versioning
Not Rated
Report Delivery Scheduling
Not Rated
Not Rated
Pre-built visualization formats (heatmaps, scatter plots etc.)
Not Rated
Location Analytics / Geographic Visualization
Not Rated
Predictive Analytics
Not Rated
9.0
Multi-User Support (named login)
Not Rated
Role-Based Security Model
9
Multiple Access Permission Levels (Create, Read, Delete)
Not Rated
Single Sign-On (SSO)
Not Rated
Not Rated
Responsive Design for Web Access
Not Rated
Dashboard / Report / Visualization Interactivity on Mobile
Not Rated

Comments

More Reviews of Vena

  1. Home
  2. Corporate Performance Management (CPM) Software
  3. Vena Reviews
  4. User Review of Vena