TrustRadius
Vena Solutions - A Solution to our Company's Budgeting and Reporting Problems!
https://www.trustradius.com/corporate-performance-management-cpmVena SolutionsUnspecified8.824101
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November 20, 2015

Vena Solutions - A Solution to our Company's Budgeting and Reporting Problems!

Score 10 out of 101
Vetted Review
Verified User
Review Source

Overall Satisfaction with Vena Solutions

Vena Solutions is being used by our company to help with our annual budgeting process and also our monthly financial reports. The product is primarily used by our finance team, but we publish financial reports that are used by our managers company-wide. Our current ERP is not very functional and we were manually inputting data into Excel spreadsheets for reporting. Additionally, our annual budgeting process was very complex as we own multiple entities and trying to consolidate all the budgets was very tedious and time-consuming.
  • Vena Solutions is able to connect directly to our ERP giving us nearly unlimited potential for customized reports. It has given us a level of functionality we didn't know was possible. We have the ability to manipulate data and reports like we never have before!
  • Prior to using Vena Solutions we spent an entire day each month converting spreadsheets to PDFs and emailing them out to each of our 40 managers. With Vena Solutions this process is completely eliminated. The specific department that each manager needs to view is available for them to view when they log into their Vena Solutions account. No more converting PDFs and sending emails! Additionally, the drill down feature is amazing. Our managers can look at their reports and drill down on a number on their P&L. This will automatically pull a report of what items were allocated to that particular account. If managers had questions prior to Vena Solutions I would have to look up the information manually in our ERP and get back with them. Now the managers can do it themselves!
  • Our annual budgeting process has improved drastically. We are able to provide input templates to our managers for them to enter expense and sales projection data. The information is then sent to the CFO for review and then on to our profit budget.
  • We have only been working with Vena Solutions for a few months but we are very impressed with their customer service and have no complaints or suggestions at this time!
  • Vena Solutions has definitely increased employee efficiency. Spreadsheets that we were spending days preparing and reformatting are now updated within a matter of seconds.
  • Vena Solutions has also provided more data integrity. We were doing a lot of manual data entry and copy and pasting from Excel. Since moving to Vena Solutions this is not necessary, hence our data integrity is much higher.
The reason we initially looked at Vena Solutions was for help with budgeting. We like Vena Solutions because it is Excel based and we knew that even if we selected a software to do our budgeting we would revert back to Excel at some point. So why not keep it all in Excel in the first place?
I think Vena Solutions works particularly well with ERPs that offer limited functionality and reporting. This product also works extremely well for the budgeting process.

Vena Solutions 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
Not Rated
Intercompany Eliminations
10
Minority Ownership
Not Rated
Local and consolidated reporting
Not Rated
Detailed Audit Trails
10
Financial Statement Reporting
10
Management Reporting
10
Excel-based Reporting
10
Automated board and financial reporting
Not Rated
Personalized dashboards
Not Rated
Color-coded scorecards
Not Rated
KPIs
10
Cost and profitability analysis
Not Rated
Key Performance Indicator setting
10
Benchmarking with external data
Not Rated
Flat file integration
10
Excel data integration
10
Direct links to 3rd-party data sources
10