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First experience with Vena Solutions
May 12, 2020

First experience with Vena Solutions

Fariduddin Niazi | TrustRadius Reviewer
Score 10 out of 10
Vetted Review
Verified User

Overall Satisfaction with Vena Solutions

We are currently in the process of implementing Vena for Financial Planning & Analysis for the yearly budgeting and forecast process. It will primarily be used by Finance & Accounting. It will hopefully help us automate our budgeting process and remove a lot of the manual processes which can lead to errors.
  • Automation - Reduces data entry errors
  • Dynamic - new accounts with actuals don't need to be manually added
  • Support - Very helpful training provided by Vena Solutions
  • Initial setup is very involved.
  • Depth of detail required for templates is can be challenging.
  • More FAQs/documentation could be provided.
  • Just starting implementation, so can't really say.
So far I've only used Excel for all budgeting and forecasting exercises. Vena seems to be more dynamic and powerful in terms of having multiple users providing inputs.
It is well suited to our company's current situation where we are working with finance teams in remote regions in different countries. There is very little in-person interaction with the team, a lot of Skype/Microsoft Teams. In this situation, the ability for people to update different templates and forms without emailing them back and forth and the master files being automatically updated saves us from possible user errors.

Vena Feature Ratings

9.6
Long-term financial planning
10
Financial budgeting
10
Forecasting
10
Scenario modeling
10
Management reporting
8
Not Rated
Financial data consolidation
Not Rated
Journal entries and reports
Not Rated
Multi-currency management
Not Rated
Intercompany Eliminations
Not Rated
Minority Ownership
Not Rated
Local and consolidated reporting
Not Rated
Detailed Audit Trails
Not Rated
Not Rated
Financial Statement Reporting
Not Rated
Management Reporting
Not Rated
Excel-based Reporting
Not Rated
Automated board and financial reporting
Not Rated
XBRL support for regulatory filing
Not Rated
Not Rated
Personalized dashboards
Not Rated
Color-coded scorecards
Not Rated
KPIs
Not Rated
Cost and profitability analysis
Not Rated
Key Performance Indicator setting
Not Rated
Benchmarking with external data
Not Rated
9.3
Flat file integration
10
Excel data integration
10
Direct links to 3rd-party data sources
8
Not Rated
Pixel Perfect reports
Not Rated
Customizable dashboards
Not Rated
Report Formatting Templates
Not Rated
9.0
Drill-down analysis
9
Formatting capabilities
9
Integration with R or other statistical packages
Not Rated
Report sharing and collaboration
Not Rated
Not Rated
Publish to Web
Not Rated
Publish to PDF
Not Rated
Report Versioning
Not Rated
Report Delivery Scheduling
Not Rated
8.0
Pre-built visualization formats (heatmaps, scatter plots etc.)
8
Location Analytics / Geographic Visualization
Not Rated
Predictive Analytics
Not Rated
9.0
Multi-User Support (named login)
9
Role-Based Security Model
9
Multiple Access Permission Levels (Create, Read, Delete)
9
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've had multiple calls and training sessions scheduled during the implementation process.

Using Vena Solutions