Forecasting made easy with Vena
October 11, 2022

Forecasting made easy with Vena

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

Overall Satisfaction with Vena

Vena is primarily used by the Financial Planning and Analysis team within the Finance department. Vena was specifically chosen for FP&A due to its capabilities to streamline forecasting needs for the FP&A team and eliminate the need for a multitude of messy Excel workbooks. I primarily use Vena for financial planning and forecasting purposes.

Pros

  • Eliminate the need for messy Excel workbooks
  • Connecting data with ERP system like Oracle for financial data
  • Ability to share with multiple different users

Cons

  • "Contributor" only access limits information transparency and may not help the contributor understand the entire picture

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?

I wasn't involved with the selection/purchase process

Did implementation of Vena go as expected?

I wasn't involved with the implementation phase

Would you buy Vena again?

Yes

  • Saved multiple hours of work through elimination of manual tasks through connecting with ERP system for automated data feed and standard templates for forecasting purposes.
Vena continues to provide ongoing webinars, support material, and virtual conferences to help individuals leverage the abilities of Vena in relation to their day to day responsibilities. Vena goes above and beyond and caters specific events to help users upskill as well. For instance, Vena not only hosts webinars on Vena but also hosts learning sessions that support users as well such as advanced Excel training.
Vena has allowed our organization to prepare monthly reporting packages for our senior leadership team faster but also help fellow team members within the finance team prepare and analyze the financial results faster and more efficiently. Especially useful during the crunch times of month-end where every minute saved is vital.
Vena puts together a multitude of webinars and learnings to help individuals find use cases for the software. Though Vena is only currently used for financial planning and analysis purposes right now, the use case of Vena for account reconciliation and financial consolidation would help immensely with automating mundane manual tasks that are subject to a higher degree of error due to the degree of manual intervention required.

From a Contributor perspective, my experience so far with Vena has been smooth and easy to understand and pick up without having to go through hours of training.

Vena Feature Ratings

Long-term financial planning
10
Financial budgeting
10
Forecasting
10
Scenario modeling
10
Management reporting
10
Financial data consolidation
Not Rated
Journal entries and reports
Not Rated
Multi-currency management
Not Rated
Intercompany Eliminations
Not Rated
Minority Ownership
Not Rated
Local and consolidated reporting
Not Rated
Detailed Audit Trails
Not Rated
Financial Statement Reporting
Not Rated
Management Reporting
Not Rated
Excel-based Reporting
Not Rated
Automated board and financial reporting
Not Rated
XBRL support for regulatory filing
Not Rated
Personalized dashboards
10
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
Flat file integration
Not Rated
Excel data integration
10
Direct links to 3rd-party data sources
10
Pixel Perfect reports
Not Rated
Customizable dashboards
Not Rated
Report Formatting Templates
Not Rated
Drill-down analysis
10
Formatting capabilities
10
Integration with R or other statistical packages
Not Rated
Report sharing and collaboration
10
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)
Not Rated
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
10
Dashboard / Report / Visualization Interactivity on Mobile
Not Rated

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