Item: Vena
Rating: 10
Author: Megan Holmes

Overall Satisfaction with Vena

Use Cases and Deployment Scope

The Finance department uses Vena for budgeting and planning, ad hoc reporting, expense analysis, financial statement reporting, and reconciliations. Other departments in the organization use Vena during the annual budgeting process and for monthly expense review and reporting. It provides a standard format to reference across departments and easily compare.

Pros and Cons

Pros

Reconciliations
Financial reporting
Ad hoc reporting
Problem-solving (to easily chase down details for variances/etc)

Cons

Creating and customizing reports can be time-consuming on the front end.
The sections and blocks can be difficult to grasp to many end-users (seem duplicative).
More standardized best practices templates would be helpful.

Key Insights

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

Return on Investment

Saved considerable time for monthly close by streamlining reporting and entries
Saved considerable time and effort for reconciliations by standardizing input and output and ability to send reviews to different users and track completion
Saved a lot of headache when tracking down variances

Full-Cycle Support

Our organization participates in a quarterly call with our Vena representative to go over any questions or issues and learn about any updates. Unlike many check-in calls, these are actually really helpful and keep everyone on track. Also, my experience with Vena support has been exceptional. Vena is incredibly quick to respond and address any problems and personally walk you through any solutions if need be.

Finance-Informed Decisions

The amount of time that the Finance and Accounting department saves during the monthly close and financial reporting has enabled much faster business decision making when needed. Also, we have many ad-hoc reports that provide many different views of our data that are easily accessible and able to update quickly.

Other Software Used

Pro-Sapien EHS Software, Microsoft Excel, Microsoft Windows

Likelihood to Recommend

Vena is very well suited for reconciliations. It is easy to send out, complete, and review for all parties. The historical reconciliations are also saved in Vena for reference. One area for improvement is the level of complexity for outside users during the budget process. A more straightforward template for users who are only in the software once a year and and are not in the Finance department would be helpful.

Vena Feature Ratings

Comments

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Vena in Insurance - Finance and Accounting