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Vena

Vena

Overview

What is Vena?

Vena Solutions provides a financial process automation solution to automate Corporate Performance Management, accounting and budgeting, Regulatory & Compliance, and other finance-related processes. It is scaled for medium to large-sized organizations.

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Recent Reviews

Vena is Great!

9 out of 10
May 22, 2024
Incentivized
Our FP&A team current uses it to complete our budgeting and forecasting process. We also use Vena to do variance analysis, ad-hoc …
Continue reading

Vena for Business

8 out of 10
May 20, 2024
Incentivized
We use Vena as a workflow tool to support and administer several FP&A and operational processes in our organization. It is currently used …
Continue reading

Finance Manager

8 out of 10
May 20, 2024
Incentivized
Vena is being used specifically as a budgeting and forecasting tool internally allowing for more efficiencies consolidating and completing …
Continue reading

Powerful tool

8 out of 10
May 20, 2024
Incentivized
Vena is used by the finance team but all departments use the reports for forecasting and controlling expenses.
Mostly field and laboratory …
Continue reading

Good platform

10 out of 10
May 16, 2024
Incentivized
Vena is primarily administered by the finance team manager; however, it serves as a valuable tool for contributors across the …
Continue reading

Vena Solutions Review

10 out of 10
May 05, 2024
Incentivized
We currently use Vena for all our reporting and forecasting needs. We replaced our Excel forecasting template with a Vena template. We are …
Continue reading
Read all reviews

Awards

Products that are considered exceptional by their customers based on a variety of criteria win TrustRadius awards. Learn more about the types of TrustRadius awards to make the best purchase decision. More about TrustRadius Awards

Popular Features

View all 48 features
  • Excel-based Reporting (206)
    9.4
    94%
  • Financial budgeting (214)
    9.1
    91%
  • Management reporting (211)
    8.9
    89%
  • Forecasting (205)
    8.3
    83%

Reviewer Pros & Cons

View all pros & cons

Video Reviews

1 video

Vena Review: Proves To Be Financial Management Solution For Handling Multiple, Complex Accounts
03:21
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Pricing

View all pricing

Professional

N/A

Cloud

Complete

N/A

Cloud

Entry-level set up fee?

  • Setup fee optional
    Optional
For the latest information on pricing, visithttps://www.venasolutions.com/resources…

Offerings

  • Free Trial
  • Free/Freemium Version
  • Premium Consulting/Integration Services
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Features

BI Standard Reporting

Standard reporting means pre-built or canned reports available to users without having to create them.

8.2
Avg 7.9

Ad-hoc Reporting

Ad-Hoc Reports are reports built by the user to meet highly specific requirements.

8
Avg 8.2

Report Output and Scheduling

Ability to schedule and manager report output.

9
Avg 8.2

Data Discovery and Visualization

Data Discovery and Visualization is the analysis of multiple data sources in a search for patterns and outliers and the ability to represent the data visually.

8.5
Avg 7.6

Access Control and Security

Access control means being able to determine who has access to which data.

9.1
Avg 8.7

Mobile Capabilities

Support for mobile devices like smartphones and tablets.

8.9
Avg 8.0

Budgeting, Planning, and Forecasting

These activities are designed to assist with both data-driven operational, short-term planning and strategic long term planning

8.6
Avg 8.3

Consolidation and Close

Consolidation of data from multiple entities with currency management, reporting and audit trails.

7.9
Avg 8.0

Financial Reporting and Compliance

Financial statements and regulatory filings

8.5
Avg 8.2

Analytics and Reporting

Dashboards and scorecards for KPI monitoring and benchmarking

8.2
Avg 8.0

Integration

Ability to integrate with external applications.

9.1
Avg 8.3
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Product Details

What is Vena?

Vena is a CPM platform that streamlines financial and operational planning, reporting and analysis processes.


Top Solutions:
  • Budgeting and Forecasting
  • Financial Reporting
  • Financial Close Management
  • Business Analysis and Insights
  • Cash Flow Planning

Top Features and Benefits
  • Native Excel Interface
  • ERP, GL, HRIS & CRM Integration
  • Scenario Modeling
  • AI-Powered Assistant for FP&A
  • Microsoft PowerBI and PowerPoint Integrations

Vena Features

Budgeting, Planning, and Forecasting Features

  • Supported: Long-term financial planning
  • Supported: Financial budgeting
  • Supported: Forecasting
  • Supported: Scenario modeling
  • Supported: Management reporting

Consolidation and Close Features

  • Supported: Financial data consolidation
  • Supported: Journal entries and reports
  • Supported: Multi-currency management
  • Supported: Intercompany Eliminations
  • Supported: Minority Ownership
  • Supported: Local and consolidated reporting
  • Supported: Detailed Audit Trails

Financial Reporting and Compliance Features

  • Supported: Financial Statement Reporting
  • Supported: Management Reporting
  • Supported: Excel-based Reporting
  • Supported: Automated board and financial reporting
  • Supported: XBRL support for regulatory filing

Analytics and Reporting Features

  • Supported: Personalized dashboards
  • Supported: Color-coded scorecards
  • Supported: KPIs
  • Supported: Cost and profitability analysis
  • Supported: Key Performance Indicator setting
  • Supported: Benchmarking with external data

Integration Features

  • Supported: Flat file integration
  • Supported: Excel data integration
  • Supported: Direct links to 3rd-party data sources

BI Standard Reporting Features

  • Supported: Pixel Perfect reports
  • Supported: Customizable dashboards
  • Supported: Report Formatting Templates

Ad-hoc Reporting Features

  • Supported: Drill-down analysis
  • Supported: Formatting capabilities
  • Supported: Predictive modeling
  • Supported: Integration with R or other statistical packages
  • Supported: Report sharing and collaboration

Report Output and Scheduling Features

  • Supported: Publish to Web
  • Supported: Publish to PDF
  • Supported: Report Versioning
  • Supported: Report Delivery Scheduling

Data Discovery and Visualization Features

  • Supported: Pre-built visualization formats (heatmaps, scatter plots etc.)
  • Supported: Location Analytics / Geographic Visualization
  • Supported: Predictive Analytics
  • Supported: Support for Machine Learning models
  • Supported: Pattern Recognition and Data Mining
  • Supported: Integration with R or other statistical packages

Access Control and Security Features

  • Supported: Multi-User Support (named login)
  • Supported: Role-Based Security Model
  • Supported: Multiple Access Permission Levels (Create, Read, Delete)
  • Supported: Report-Level Access Control
  • Supported: Table-Level Access Control (BI-layer)
  • Supported: Field-Level Access Control (BI-layer)
  • Supported: Single Sign-On (SSO)

Mobile Capabilities Features

  • Supported: Responsive Design for Web Access
  • Supported: Dashboard / Report / Visualization Interactivity on Mobile

Vena Screenshots

Screenshot of Operation Expenses - Predictive AnalysisScreenshot of Allocations DashboardScreenshot of Vena Add InScreenshot of Power BI DashboardScreenshot of Operational Expenses - Drill through analysisScreenshot of Process Status DashboardScreenshot of Corporate DashboardScreenshot of Vena for PowerPointScreenshot of Audit TrailsScreenshot of Cash Flow StatementScreenshot of

Vena Videos

Introduction to Vena Complete Planning
Introduction to Budgeting in Vena Complete Planning
Vena for SaaS - Financial Reporting and Reporting Made Simple

Vena Technical Details

Deployment TypesSoftware as a Service (SaaS), Cloud, or Web-Based
Operating SystemsUnspecified
Mobile ApplicationYou don't need to download an app or change a setting to use Vena on your mobile device: just open your browser, go to Vena (vena.io), and log in as you normally do. The Contributor interface is fully responsive, so it can adjust to any size screen, regardless of the type of device you have.
Supported CountriesUnited States of America, Canada, United Kingdom, Australia, South Africa, Europe
Supported LanguagesVena supports any localization capabilities already native within Excel. Vena Cloud supports English, Spanish, and French. If a specific language is required please don’t hesitate to ask.

Frequently Asked Questions

Vena Solutions provides a financial process automation solution to automate Corporate Performance Management, accounting and budgeting, Regulatory & Compliance, and other finance-related processes. It is scaled for medium to large-sized organizations.

Workday Adaptive Planning, Prophix, and Planful are common alternatives for Vena.

Reviewers rate Excel-based Reporting and Flat file integration highest, with a score of 9.4.

The most common users of Vena are from Mid-sized Companies (51-1,000 employees).

Vena Customer Size Distribution

Consumers0%
Small Businesses (1-50 employees)19%
Mid-Size Companies (51-500 employees)55%
Enterprises (more than 500 employees)26%
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Comparisons

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Reviews and Ratings

(327)

Attribute Ratings

Reviews

(1-25 of 225)
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May 22, 2024

Vena is Great!

Score 9 out of 10
Vetted Review
Verified User
Incentivized
Our FP&A team current uses it to complete our budgeting and forecasting process. We also use Vena to do variance analysis, ad-hoc reporting. We use Vena to build out our monthly, quarterly, and annual financial packages.
Tim Kan | TrustRadius Reviewer
Score 10 out of 10
Vetted Review
Verified User
Incentivized
Vena is being used in our org to do long range planning, and Asset Level Capex and Opex Planning. Its mainly managed and used by the finance team. Other stakeholders mainly use the business dashboard part of the Vena. It helps us to address the urgent reporting needs while giving us great flexibility
May 20, 2024

Vena for Business

Score 8 out of 10
Vetted Review
Verified User
Incentivized
We use Vena as a workflow tool to support and administer several FP&A and operational processes in our organization. It is currently used by our corporate accounting, corporate finance, and operational finance departments. We are in the process of expanding to operations, as well. The tool has solved the problem of needing to share and email spreadsheets and has standardized processes that had too much variation.
May 20, 2024

Ease of Use

Kelly Gregory | TrustRadius Reviewer
Score 10 out of 10
Vetted Review
Verified User
Incentivized
Currently Vena is only being used by our FP&A team and some accounting team members. We would love for other teams to start utilizing to enter their budgets and forecasting. This has been put on the back burner due to hiring capability in FP&A. We do use Vena reporting for a lot of external and internal reporting while also using for review and month end processing.
May 20, 2024

Finance Manager

Score 8 out of 10
Vetted Review
Verified User
Incentivized
Vena is being used specifically as a budgeting and forecasting tool internally allowing for more efficiencies consolidating and completing budget while allowing for more time analyzing and strategic planning.
May 20, 2024

Powerful tool

Score 8 out of 10
Vetted Review
Verified User
Incentivized
Vena is used by the finance team but all departments use the reports for forecasting and controlling expenses.
Mostly field and laboratory departments will use the reports and KPI generated in the solution. Otherwise, other departments will be able to control their revenues and expenses.
The direction will use the insight part of Vena to have a quick eye on the financial situation.
May 16, 2024

Good platform

Score 10 out of 10
Vetted Review
Verified User
Incentivized
Vena is primarily administered by the finance team manager; however, it serves as a valuable tool for contributors across the organization. Our team utilizes Vena for budgeting, forecasting, and reporting to address a variety of business challenges. Its functionality and flexibility make it an essential part of our financial management process.
Score 10 out of 10
Vetted Review
Verified User
Incentivized
We currently use Vena for all our reporting and forecasting needs. We replaced our Excel forecasting template with a Vena template. We are very pleased with the consolidation help the software provides and recently decided to have all of our raises and reviews done in Vena, which allowed for significantly more visibility on the data integrity.
March 13, 2024

Easy to use....

Score 10 out of 10
Vetted Review
Verified User
Incentivized
Vena is currently being used by the Finance department with a potential to extending usage further out to other teams in the organization. Vena is used for producing reports and outputs for various stakeholders; internal and external. Additionally, Vena is currently used for processes including period end, budgeting and forecasting.
March 09, 2024

Vena Review

Score 9 out of 10
Vetted Review
Verified User
Incentivized
We adopted Vena for the preparation of our 2024 budget. Previously we were using Excel spreadsheets, but needed a more streamlined solution to bring all of the parts of our budget together into a final product. Vena allowed us to create detailed revenue and expense budgets, and allocate costs among departments as needed. We were also able to use Vena for our staffing budget and allocations, which was an improvement over our previous process.
Score 10 out of 10
Vetted Review
Verified User
Incentivized
Vena is being used as an FP&A solution, consuming accounting ledger and other ad hoc KPI data to produce various pieces of consistent management information packs / decks and other pieces of analysis. Such outputs/models input: 1. MTP / Budgeting 2. Workforce planning 3. Management Information packs 4. Board packs 5. Ad-hoc analysis
January 05, 2024

Great FP&A tool

Score 10 out of 10
Vetted Review
Verified User
Incentivized
Vena is a fantastic tool for any organization and the Vena implementation team is really helpful. I think its a money well invested for financial planning and forecasting. Also a great tool to use for anyone familiar with Excel functionalities. I think we will see great financial results with this implementation.
Shelly Sennikoff | TrustRadius Reviewer
Score 10 out of 10
Vetted Review
Verified User
Incentivized
We use Vena across the entire organization for our annual budget process and monthly financials and forecasting. We also use it to track various other items that support other departments, such as maintaining our program grant awards, providing site codes for our field staff, calculating site staff mileage stipends, etc. Vena has replaced and automated some very manual processes!
Score 9 out of 10
Vetted Review
Verified User
Incentivized
We use Vena across our three operating divisions for Budget/Planning and Forecasting. We also use Vena to maintain corporate level Balanced Score card data with site level granularity for reporting and analytics.
Score 10 out of 10
Vetted Review
Verified User
Incentivized
we use Vena for numerous functions.
1. we use for budgeting and forecast twice a year of operating and capital expenses and workforce. I generate the reports and this is distributed to all 40 department heads for completion.
2. it is used for monthly variance analysis - again distributed to all departments
3. we are in process of implementation of financial reporting where accounting will begin generating all month end financial statements.
this has helped us in numerous ways, especially timeliness of being able to generate the reports and distribute them to all end users, as well as having the data stored centrally and removing the previous issues of human error. It has also helped us in being able to automate a lot of adhoc monthly reports that are usually sent out to certain departments. Once mapping is set in the report template, it's just a matter of making it available and departments are able to access whenever they need. It has technically reduced the amount of time and effort for all finance reporting, which has allowed us to save money by reducing our overall FTE.
December 29, 2023

Vena Review

Score 6 out of 10
Vetted Review
Verified User
Incentivized
Vena is being used on a day to day business to support any ad-hoc requests from the finance/accounting side and constantly updating crucial information interms of monthly and quarterly reporting for the revenue, P&L, and other documentation. We use it as a data center in which we can track previous information in previous years and compare them with one another
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