Great tool for forecasts and budget
Updated October 16, 2020

Great tool for forecasts and budget

Radu Cocos | TrustRadius Reviewer
Score 8 out of 10
Vetted Review
Verified User
Review Source

Overall Satisfaction with Vena Solutions

We use Vena Solutions to facilitate our annual budgeting and quarterly forecasting processes. With Vena, we were able to develop more flexible and dynamic input templates; for instance Vena operators which allow to hide or show rows and columns. We were also able to benefit from a quick consolidation process where we can see the results from different entities in seconds.
  • Dynamic functionalities in Excel
  • Fast consolidation
  • Scalable solution
  • Difficult to use if not an Excel pro
  • Mapping data points can be time consuming
  • Increased standardization of budgeting and forecasting process
  • Accelerated budgeting and forecasting process
Access to Vena Knowledge base and dedicated customer support.
Vena Solutions is well suited for companies that are looking for a dynamic ERP solution. The interface is well designed and relatively easy to use. Developing templates requires proficiency in Excel as well as a good understanding of how the database works. Vena works very well for the budgeting process; we have found it less useful in the month-end cycle.

Vena Feature Ratings

Long-term financial planning
9
Financial budgeting
9
Forecasting
9
Scenario modeling
10
Management reporting
8
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
Financial Statement Reporting
9
Management Reporting
9
Excel-based Reporting
10
Automated board and financial reporting
Not Rated
XBRL support for regulatory filing
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
Flat file integration
Not Rated
Excel data integration
10
Direct links to 3rd-party data sources
5
Pixel Perfect reports
Not Rated
Customizable dashboards
Not Rated
Report Formatting Templates
Not Rated
Drill-down analysis
Not Rated
Formatting capabilities
Not Rated
Integration with R or other statistical packages
Not Rated
Report sharing and collaboration
Not Rated
Publish to Web
Not Rated
Publish to PDF
Not Rated
Report Versioning
Not Rated
Report Delivery Scheduling
Not Rated
Pre-built visualization formats (heatmaps, scatter plots etc.)
Not Rated
Location Analytics / Geographic Visualization
Not Rated
Predictive Analytics
Not Rated
Multi-User Support (named login)
Not Rated
Role-Based Security Model
Not Rated
Multiple Access Permission Levels (Create, Read, Delete)
Not Rated
Single Sign-On (SSO)
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?

Not sure

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?

No

Would you buy Vena again?

Yes

Vena has a knowledge center with plenty of useful information (description of functionalities, case studies, FAQs) as well as a customer service ticket-based system. Customer Service is always responding promptly.

Using Vena Solutions

ProsCons
Like to use
Relatively simple
Technical support not required
Well integrated
Consistent
Convenient
Feel confident using
Lots to learn
  • Data cube setup and maintenance
  • Data import and export
  • Excel input templates creation
  • Data saves from Excel
  • Permission management