Must have system for FP&A professionals
March 20, 2023

Must have system for FP&A professionals

Mohamed Salem, CFA | TrustRadius Reviewer
Score 10 out of 10
Vetted Review
Verified User

Overall Satisfaction with Vena

We use Vena across the organization in different capacities: Budgeting and forecasting by department for OPEX, CAPEX, and Workforce. For variance reporting and analysis by department, entity, and consolidated. For Executive and Board reporting, standalone and consolidated. We implemented Vena 3 years ago, which completely automated our budgeting process and financial reporting. It also enhanced our security and how financial and HR data are transmitted across the organization. We have two entities with two different currencies and almost 20 departments in each country. Vena helped us in breaking the budget to smaller pieces and enabled us to handle the increasing numbers of departments and users who manage budget. If I would to replace Vena and go back to manual budgeting and reporting, I would need at least 4 more people on my team.
  • Budgeting and forecasting
  • Financial reporting
  • security and privacy
  • Flexibility
  • Can't think of anything

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

  • 4 FTE savings in FP&A
  • Enhancing security and privacy
Implementation happened by the Vena team.
If you are running budgeting, planning and financial reporting, especially in a large organization with a large number of departments. We are a service company and 2/3 of our budget is people and Vena enabled us to budget smoothly with the complex nature of compensation planning.
It might not be very cost-efficient to implement Vena if you're a very small company. But you should think of an FP&A system once your business can afford it.

Vena Feature Ratings

Long-term financial planning
10
Financial budgeting
10
Forecasting
10
Scenario modeling
10
Management reporting
10
Financial data consolidation
10
Journal entries and reports
10
Multi-currency management
10
Intercompany Eliminations
Not Rated
Minority Ownership
Not Rated
Local and consolidated reporting
10
Detailed Audit Trails
10
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
10
Color-coded scorecards
10
KPIs
10
Cost and profitability analysis
10
Key Performance Indicator setting
10
Benchmarking with external data
10
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
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)
10
Role-Based Security Model
10
Multiple Access Permission Levels (Create, Read, Delete)
10
Single Sign-On (SSO)
10
Responsive Design for Web Access
10
Dashboard / Report / Visualization Interactivity on Mobile
10