TrustRadius
Flexibility, Performance, and User Adoption
https://www.trustradius.com/corporate-performance-management-cpmVena SolutionsUnspecified8.824101
Matthew Blickley profile photo
September 28, 2018

Flexibility, Performance, and User Adoption

Score 10 out of 101
Vetted Review
Verified User
Review Source

Overall Satisfaction with Vena Solutions

Vena is being used as our annual budgeting, forecasting, consolidation, management reporting and financial analysis tool. Vena is used heavily on a daily basis by the finance team as we perform analysis and drive insights to our business and is the tool the entire business uses to plan on an annual basis and forecast periodically. Vena was implemented to provide a consolidated planning tool where we could eliminate disparate spreadsheets and control the process much easier. In addition, Vena gave us the flexibility in reporting financial results in our business that our ERP system was not well equipped to do. We expanded the use of Vena to consolidations recently given the positive experience we've had with the tool.
  • Flexibility - Vena is incredibly flexible for a changing business environment. The user interface allows the data model to be adjusted to meet the changing needs of thee business. In addition, the ability to create reports and templates and manipulate data is incredibly easy. It has helped us get to insights through analytics much quicker than we have been able to before.
  • Performance - Vena's speed reliability is great. We have several data sources and allocations/calculations we preform in the tool that require a lot of data and power and the tool's ability has not disappointed. One of the projects we implemented required data files with data files that were very large and Vena's performance is top notch.
  • User Acceptance / Adoption - The user interface of native Excel allows for widespread adoption of the tool across a large user base. Because the tool uses a software that nearly everyone in the business world is comfortable with, adopting the tool is easy. By placing a database on top of Excel is nearly invisible to the users of the product, it provides the value of real-time data availability in a comfortable interface.
  • Vena has met my needs all along the way. I've had several requests for development in the tool that I've submitted through the interface that the product team has taken into account and put on their development path. They have taken customer feedback very seriously and improve every day based on the feedback they receive.
  • I attribute some of the quicker business decisions we've been able to make to the ability of getting data and insights quicker using Vena. Our ability to analyze data has enhanced with the tool.
  • We've been able to streamline our business planning cycle significantly with the use of Vena. All of our annual planning runs through the tool and we've automated portions of our planning to help with the efficiency of the process. The workflow capability has also helped us hold our users accountable and understand where a process is at any given point in time.
Vena is more flexible than the tools we evaluated and we believe provided the best path to user acceptance for our business.
Vena has use across several business scenarios. We originally started with some basic planning solution to meet our needs and have significantly expanded the scope of our use of the tool into more sophisticated planning and forecasting and into consolidation based on the experience we've had with the tool. We are considering expanding the use of the tool as we see its ability expand beyond what we are currently using it for.

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
10
Intercompany Eliminations
10
Minority Ownership
10
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
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