Vena's flexibility makes it an incredible FP&A tool, especially in today's ever-changing business environment.
February 23, 2022

Vena's flexibility makes it an incredible FP&A tool, especially in today's ever-changing business environment.

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

Overall Satisfaction with Vena

We began utilizing Vena as the budgeting solution for our department in 2018. Within our department, we now utilize Vena for forecasting, reporting, calendar analysis, and capital project planning in addition to budgeting. While Vena is still mostly isolated to our department, leadership in other departments frequently uses the reporting packages we create within the tool. A huge business problem Vena addressed was further staff engagement in the budgeting process. What used to be completed by a Manager in a static Excel document with occasional commentary from their team is now a collaborative effort in which the team is completing their own budgets to feed roll-up reporting for the Manager. This has created greater ownership amongst our teams, centralized workflow, and increased the accuracy of our budgets.

Pros

  • It's extremely flexible - allowing us to build whatever we want to meet the needs of the end-user and leadership.
  • It overlays workflow - no more Excel files being passed back and forth between dozens of emails.
  • Data integration - easy to get your data into and out of Vena.

Cons

  • User experience for the Mac user - this is something they're actively addressing and are currently rolling out a solution for, though we haven't yet adopted the new solution.
  • There are a few detailed product enhancements I've recommended. They're typically pretty good about receiving and acting on user feedback, though!
  • Vena's Dashboarding feature is not very good at the moment, though I believe there are some new things coming in 2022.

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

  • Freed time for both finance and accounting teams.
  • Enhanced reporting capabilities.
  • Streamlined budgeting process.
The thing we love most about Vena is the flexibility. If it can be done in Excel, it can be done in Vena. It's incredibly easy to make updates and enhancements that are automatically deployed for all end users. If we're going to begin capturing a new data point on our event group template, a new column can be added and mapped for all 200 end users to begin work within minutes. It's fantastic! While Vena isn't likely to be THE solution for every process, we continue to find that the flexibility of the tool allows us to move outdated processes after outdated processes into the Vena ecosystem. We started with budgeting, but our use of Vena has extended into forecasting, reporting, capital project planning, and even some calendar analysis. Vena has been a great fit for our organization.

Vena Feature Ratings

9.6
Long-term financial planning
10
Financial budgeting
10
Forecasting
10
Scenario modeling
10
Management reporting
8
9.7
Financial data consolidation
10
Journal entries and reports
10
Multi-currency management
8
Intercompany Eliminations
10
Minority Ownership
10
Local and consolidated reporting
10
Detailed Audit Trails
10
9.0
Financial Statement Reporting
10
Management Reporting
8
Excel-based Reporting
10
Automated board and financial reporting
8
XBRL support for regulatory filing
Not Rated
9.0
Personalized dashboards
4
Color-coded scorecards
10
KPIs
10
Cost and profitability analysis
10
Key Performance Indicator setting
10
Benchmarking with external data
10
10.0
Flat file integration
10
Excel data integration
10
Direct links to 3rd-party data sources
10
7.0
Pixel Perfect reports
Not Rated
Customizable dashboards
4
Report Formatting Templates
10
10.0
Drill-down analysis
10
Formatting capabilities
10
Integration with R or other statistical packages
Not Rated
Report sharing and collaboration
10
8.0
Publish to Web
Not Rated
Publish to PDF
7
Report Versioning
Not Rated
Report Delivery Scheduling
9
10.0
Pre-built visualization formats (heatmaps, scatter plots etc.)
Not Rated
Location Analytics / Geographic Visualization
Not Rated
Predictive Analytics
10
9.8
Multi-User Support (named login)
10
Role-Based Security Model
9
Multiple Access Permission Levels (Create, Read, Delete)
10
Single Sign-On (SSO)
10
4.5
Responsive Design for Web Access
7
Dashboard / Report / Visualization Interactivity on Mobile
2

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