Vena, great tool for complex Excel collaboration
September 01, 2022

Vena, great tool for complex Excel collaboration

Anonymous | TrustRadius Reviewer
Score 7 out of 10
Vetted Review
Verified User

Overall Satisfaction with Vena

We implemented Vena for the planning and budgeting process, reporting, and consolidation as well in combination with Fluence. On the other hand, we also use it for more non-financially driven functionalities like resource planning or project risk management.

Pros

  • Facilitate collaboration across the company
  • Workflow management

Cons

  • Industry Solutions (Best Practices)
  • Reproducing templates

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?

Yes

Would you buy Vena again?

Yes

  • Improved the budget process
  • Saved costs in comparison to former planning- and budgeting tooling
  • Less involvement of IT-resources
Cost/benefit decision
It is well suited to collaborate with departments overarching within your company. For example, setting up a budget where several departments need to deliver their input and you will facilitate the process, and keep an eye on the process. I think it is less appropriate for organizations with a low maturity level in finance, as the tool is really flexible, and if you don't have a clear vision of your needs, maybe Vena is not the way to go as it will not guide you in the process. It's really open/flexible to set up, so you need to know what you want.

Vena Feature Ratings

7.6
Long-term financial planning
8
Financial budgeting
8
Forecasting
8
Scenario modeling
7
Management reporting
7
6.8
Financial data consolidation
7
Journal entries and reports
7
Multi-currency management
Not Rated
Intercompany Eliminations
7
Minority Ownership
7
Local and consolidated reporting
7
Detailed Audit Trails
6
7.0
Financial Statement Reporting
7
Management Reporting
6
Excel-based Reporting
9
Automated board and financial reporting
6
XBRL support for regulatory filing
Not Rated
7.0
Personalized dashboards
5
Color-coded scorecards
9
KPIs
9
Cost and profitability analysis
6
Key Performance Indicator setting
7
Benchmarking with external data
6
8.5
Flat file integration
Not Rated
Excel data integration
9
Direct links to 3rd-party data sources
8
7.0
Pixel Perfect reports
10
Customizable dashboards
5
Report Formatting Templates
6
8.0
Drill-down analysis
8
Formatting capabilities
9
Integration with R or other statistical packages
Not Rated
Report sharing and collaboration
7
7.0
Publish to PDF
7
6.0
Pre-built visualization formats (heatmaps, scatter plots etc.)
6
9.3
Multi-User Support (named login)
9
Role-Based Security Model
9
Multiple Access Permission Levels (Create, Read, Delete)
9
Single Sign-On (SSO)
10
Mobile Capabilities ()
Not Rated

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