VENA, Very Easily Never-not Awesome (Double Negative, so it's positive).
October 27, 2022

VENA, Very Easily Never-not Awesome (Double Negative, so it's positive).

Max DiPlotti | TrustRadius Reviewer
Score 10 out of 10
Vetted Review
Verified User

Overall Satisfaction with Vena

Vena is currently only in use for the Finance Department, and it has been an immense help. We are able to break out every individual expense by product line automatically, all month-end reporting is completely automated, staff and revenue projections now update automatically, and we can do a rolled-up view or detailed view in any report within Vena depending on the detail needed with only the click of a button. We are rolling out Vena to other department heads this quarter, and I am excited to see where else it can help.
  • Update actuals automatically.
  • Forecast individual expenses.
  • Maximize detail and value of a single number with Zoom/Drill.
  • Flexibility to create anything we need internally.
  • I'd like to have notes sections that are tied to specific departments, similar to how expenses are mapped. I did make one anyway, though, so if anyone needs guidance on this, I am happy to help!

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

  • Vena Saved Time (Updating Actuals, Running Month-end Reports, Workforce Updates, Manual budget updates) with all of the automation, I save at least 2 hours per day that I can spend on more valuable projects.
  • Vena's implementation helped to reveal some inconsistencies and errors within the Excel Model we used previously, and we can now feel more confident in our forecasting.
  • With Vena available, we no longer need to look to outside help for new financial reporting options, so we can save on consulting in addition to other potentially more expensive, less helpful solutions.
The sales process was amazing. Dylan was so helpful and informative, as expected, but it was better than a typical sales call. It was like being on a call with a friend who is trying to help your company save hours every week. Have any of your friends saved you enough time and money to get recognized by your Bosses? Dylan will. In addition to the sales process, we had a team of consultants available for multiple calls a week throughout implementation, and it helped to get me up to speed on mapping, format, and all of the other features well before we had finished implementation. Once the implementation was completed, I somewhat expected a hands-off approach from Vena due to past experiences, but we have had constant communication and support for the past year. We have an amazing Customer Success Manager who gets on a call or emails expeditiously whenever we need, Dylan has reached out as well to check in (as recently as this month), and there are numerous other Vena legends who have reached out to make sure we are making the most of their solution.
One major way we can make more agile decisions is when it comes to near-term projections. Since Vena helps to update actuals rapidly and updated drivers for our forecast, we can go check our cash forecast early in each month to see if anything major has changed. If something did shift, we could compare the previous version to updated financials to find the cause quickly and then discuss internally the best way to counteract any possible shifts.
The decision to go with Vena was based mostly on flexibility. Within the Vena solutions, you can create or customize any report to fit your exact need, and that is ideal for our team. We want to be able to create numerous customized report structures on our own, and with many other solutions, you need to ask for one of their support members to create a special report for you, or the idea may not be possible or efficiently developed.
Vena is great for Budget Reports, Forecasting, Scenario Comparisons, Workforce Planning, Corporate Financials, and Automation of their own reports as well as reports you create individually. I'd say Vena is not a replacement for a Workforce Manager (Like ADP), an Account System (Like QuickBooks/NetSuite/etc.), or other specific software for some non-FP&A functions (SalesForce, etc.) However, it does integrate with these other products very well in order to consolidate the most valuable data into one data source and present it in a helpful way.

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
10
Management Reporting
10
Excel-based Reporting
10
Automated board and financial reporting
10
XBRL support for regulatory filing
Not Rated
Personalized dashboards
Not Rated
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
10
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
10
Report Delivery Scheduling
10
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)
10
Role-Based Security Model
10
Multiple Access Permission Levels (Create, Read, Delete)
10
Single Sign-On (SSO)
10
Responsive Design for Web Access
Not Rated
Dashboard / Report / Visualization Interactivity on Mobile
Not Rated