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Vena adds flexibility and control to Excel
May 12, 2020

Vena adds flexibility and control to Excel

Anonymous | TrustRadius Reviewer
Score 10 out of 10
Vetted Review
Verified User

Overall Satisfaction with Vena Solutions

As a company, we are relatively new to Vena, less than 1 year since implementation. I have already seen the benefit of using the system.

We use it for all of our financial forecasting, including capital expenditure. We are also beginning to use it for monthly processes, and transferring some labor-intensive processes into Vena.

It helps us to dynamically forecast our projects, and can also reduce the time taken on some monthly processes. It is also being used to store non-financial data that is relevant to members of the executive management team.
  • Very flexible system
  • Adds controls and structure to Excel workbooks
  • Has a process flow, with approvals, and e-mail notifications
  • New improvements being added regularly
  • Good support team
  • There is quite a lot of "mouse-clicking" required for some tasks, but I believe they are working to improve this.
  • On an ongoing basis, it helps to have someone within your company who is fairly technical, in order to make the most out of Vena (someone who understands the technical side of software/databases). Having said that, the support team is very good.
  • We are at the early stages, but this will reduce the time it takes to complete our financial month-end.
I don't know of any other products that are quite like Vena. I use it mainly as an Excel add-in, but it also has the online functionality included.
Vena Solutions adds controls and flexibility to Excel that enable excellent financial models to be produced. I have been involved in a lot of Excel financial modelling, and Vena really is an excellent tool! It is more than this though, it is a flexible system that can do so many things that surprise me on a regular basis!

You can perform forecasting for multiple scenarios, and asses these scenarios with a few clicks. You can rollover regular processes with a few clicks, and save a lot of the history within your files.

Vena has an easy-to-use interface, which means that people with fewer software skills can use the "front end" parts of the system to complete their tasks.

Vena Feature Ratings

10.0
Long-term financial planning
10
Financial budgeting
10
Forecasting
10
Scenario modeling
10
Management reporting
10
10.0
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
10.0
Financial Statement Reporting
10
Management Reporting
10
Excel-based Reporting
10
Automated board and financial reporting
10
XBRL support for regulatory filing
Not Rated
10.0
Personalized dashboards
10
Color-coded scorecards
10
KPIs
10
Cost and profitability analysis
10
Key Performance Indicator setting
10
Benchmarking with external data
Not Rated
8.0
Flat file integration
9
Excel data integration
9
Direct links to 3rd-party data sources
6
Not Rated
Pixel Perfect reports
Not Rated
Customizable dashboards
Not Rated
Report Formatting Templates
Not Rated
9.7
Drill-down analysis
9
Formatting capabilities
10
Integration with R or other statistical packages
Not Rated
Report sharing and collaboration
10
9.5
Publish to Web
Not Rated
Publish to PDF
10
Report Versioning
Not Rated
Report Delivery Scheduling
9
Not Rated
Pre-built visualization formats (heatmaps, scatter plots etc.)
Not Rated
Location Analytics / Geographic Visualization
Not Rated
Predictive Analytics
Not Rated
10.0
Multi-User Support (named login)
10
Role-Based Security Model
10
Multiple Access Permission Levels (Create, Read, Delete)
10
Single Sign-On (SSO)
Not Rated
Not Rated
Responsive Design for Web Access
Not Rated
Dashboard / Report / Visualization Interactivity on Mobile
Not Rated

Vena Solutions Attributes

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

We have a Customer Success Manager who has provided some of the best customer service that I have received from any company. He has good technical knowledge of the Vena product, so is able to answer the vast majority of my questions. For any questions that he is unsure of, he will direct me to the appropriate person and get my issues solved.

In general, the support teams are very knowledgeable, which really helps when you are trying to use some of the more complicated parts of Vena.