Vena Reviews

My overall and remarkable insight with Vena

Comments: It's a reliable tool for creating and managing financial budgets.
It's reliable with cash flows management.

Pros:

I like how this tool is reliable for financial planning,budgeting and forecasting.It's simple to prepare custom financial reports reports with Vena.This tool is reliable with bank account reconciliation.

Cons:

I lack anything that I can complain since this tool meets all my needs and expectations.

Recommendation from an early Vena adopter

Comments: We deployed Vena in 2020 as an ERP extension to our legacy system. Vena empowered sales metrics on the front end, financial project management in the middle, and financial reporting at the job level on the back end. We deployed a second "cube" data warehouse after the initial launch for financial reporting. Each deployment has worked as prescribed and brought extraordinary value to our construction company.

Pros:

Vena has delivered huge value for us in a flexible package that can grow with our business effectively and efficiently. Vena let us keep our existing financial system and our customer Excel quoting apps. And built a reporting system on the back of Excel which everyone already knows. The road to value was fairly straightforward for us.

Cons:

Vena is a toolbox of powerful opportunities. It is not an out-of-the-box accounting system. So you have to know exactly what you want out of Vena before deploying it. But this is true of any data warehouse. Knowing how data is to be extracted and presented requires upfront commitment and execution. Time spent in the planning phase will pay off 10X in the execution phase.

Coming full circle - back to excel?

Comments: I have used a handful of popular systems in my 10-year career. When I first heard of Excel focused planning tools I was at first excited. How can a system that solves for the very tool that all of finance uses go wrong? In the beginning, FPA wanted to get out of Excel and have one version of the truth. Then the industry pivoted back to Excel with a bunch of intermixed features between Excel and cloud solutions workflow. With that, issues arise such as..If everything is Excel based, is it just easier to use Excel? Sadly Vena, and many others like them, fall short with the basic product offering equation. What problem are you actually solving for? The balance between a native Excel feeling and the Vena software controlling it feels under-developed. And how can it not be? If you solve for Excel then you stray from the Vena platform, if you focus on Vena platform you move away from Excel. The result is a mediocre product at best. Here is a basic example. In Excel you can group columns, easy. In Vena, you can write simple code on the report to hide a column. In the same report you can use one or the other, or both, the results are reports with frustrating formatting quirks. Though there are some pluses to Vena, I would think twice about committing to it as it is not a robust planning tool. The main question you, the user, should ask is the following.” Do I buy into the future where Excel (a system owner my Microsoft) really the future of financial planning software?

Pros:

Honestly, if you have used other planning software, I can not really say there is much.

Cons:

• No web interface that shows your financials. All financials must be displayed through reports that you build through Excel. Yes, you can pull intersection data and get a dump, but that is cumbersome. • Loading headcount takes up to an hour to load since it needs to be customized. • Mapping a report takes too long. You must map not just columns and rows, but the “page”, or global like dimensions. Vena should be smart enough to know this without the user, it is not. • Mapping a report takes way too much space. You can not nest a query within a cell. • Hard running a report with two global assumptions. You have to create another intersection mapping. • Hard to audit a complicated report, hence you are incentivized not to, therefore what is the point? • Reports and input sheets can exist on the same report sheet. Though useful at times, it is easy to override data and can get confusing. Though you sometimes have to do it for modeling purposes. • The software learning curve peaks too early. I understand having a simple software, but not at the expense of functionality. • Writing intricate code to help automate financial planning is not practical. There is only a primitive editor, and no result box that guides you. Our consultants told us do not even try because they seldom touch it. Specifically, it is extremely hard to validate what is occurring. • Building a three-statement model is a disaster. Imagine building a balance sheet, but not being able to pull a number from the

This is a professional and dynamic tool

Comments: It's a straightforward tool that allows me to perform multiple tasks in one panel, it has effective formulas, allowing me to perform qualitative and quantitative analyzes with greater precision. In addition, when delivering these reports, I can reflect them in graphics that are easy to understand for others while still respecting the presentation’s professionalism. Another feature I like and have improved is the panel that can be personalized in the most used choices to organize it better.

Pros:

Vana is a software that allows to carry out tasks either financial or accounting in a customized way by means of calculation sheets and templates very similar to the established Excel tool, except that in this opportunity offers a greater number of options that conform to the specific requirements required by the current administrative systems of the enterprises. With this program, automated reports can be made enabling the preparation of managerial plans, with a high level of protection that will enable you to function without fear of filtering such data. It adapts very well to different industries and enables archives to be imported and exported quickly

Cons:

The monthly cost of the tool is very high relative to other similar ones, but of course, it should be remembered that it is a tool targeted at medium and large businesses, so that the price for large organizations can be manageable.

Excel based Performance Management Tool

Pros:

Our Financial Planning and Analysis team picked Vena from many other tools. The reason for zeroing on this tool, is, it is an excel based tool. We have been doing all this work in excel since years. We have standardized the process and have fixed excel templates. However excel has certain limitations like version control, access control, audit trail etc. With Vena we overcame the limitations of excel while retaining the power, flexibility and ease of use of excel. We have many desperate IT systems some by choice and some by compulsion due to various acquisitions. We import the data from all these systems into vena database. Data is automatically consolidated and aggregated per our requirements for use in advanced management reports as well as ad hoc reports in vena. Vena offers workflow and approval management by project, department etc. Further one can drill up, drill down, slice and dice the data using vena. Variance analysis is a piece of cake in this tool. Vena customer service is good too.

Cons:

There is a learning curve like any other tool. There is no drag and drop from a selection of columns, fields etc. However once you learn the tool, reporting becomes easier.

Business management tool

Comments: My experience has been good, this is because I can organize, manage or calculate from financial processes to accounting analysis if I so require, and it also has more advanced functions than the known tool.

Pros:

what I like the most is that it has known capabilities and its monthly training for beginners is much less than others, but it is a functional and fast tool, it also has many templates

Cons:

I do not feel that the tool is difficult, or that it is not organizationally functional

Add super powers to your Excel templates

Pros:

I don't have to learn SQL programming languages or wait around for my computer department to do something . I can manage everything myself.

Cons:

Being a young company, they need more demonstrations, downloaded working files to build users skills.

Superb Performance for Financial Reporting

Comments: Vena is one of the best software for financial planning and reporting. I use this software to make budget reporting, data import/export, etc.

Pros:

The tool is very impressive and easy to use. It offers fantastic features that help us to manage our finance and account data easily.

Cons:

I felt that the tools is quite slow when we deal with large amount of data. Otherwise it's run smoothly.

Business Process Automation Software

Pros:

The software helps in task management as well as activity tracking. It also includes data visualization and workflow management software. We can also use strategic planning software.

Cons:

Still now I have not found anything least about the software.

Best Software For Finance and Accounting

Comments: Vena is a flexible financial planning and analysis software that helps all the companies who want to improve their budgeting, planning, reporting and financial planning. I'm integrate this software with Microsoft excel and it works effectively. Highly Recommended for the companies who mostly works with Microsoft Excel.

Pros:

Vena is a powerful software for financial planning and budgeting that provides many great features to make your work easy and effective. It's a very easy to use and simple to integrate with other platform.

Cons:

I have no problem or issue with the software till now. Sometime I have noticed that it's take more time to load data.

Vena provides flexibility to set up budgets, reports and other processes as flexibly as we need.

Comments: We were able to streamline and centrally collect data for our budgeting process, which save considerable time for the budget administrator and other admin assistants across our university. We created Board-level reporting templates that can be re-used every year to report the results of the budget process with only changes made as necessary for the format of the current reporting year. We collect forecasting information from over 330 departments and compile all the information within one template to estimate the financial outcome for the fiscal year. We have been able to include data in planning of various kinds in ways that we weren't able to by just using Excel, resulting in better planning results. We can create new planning or reporting processes and have the flexibility to save additional data input that isn't part of our ERP data. Overall, we have saved time, improved processes, created one version of the data visible to all involved in the process and created efficiencies by being able to share data across processes.

Pros:

Flexibility to set up whatever process we are working on the way it needs to be set up for our business requirements. Continual improvements being done on the Vena add-in and browser administration interface. Formatting Excel templates and reports exactly as needed. Ability to pull in data from all data versions for any reporting or template. Ability to save non-financial data to use in reporting or calculations. Ability to control user input as needed to better quality data. Prompt customer service responses. Great implementation team. Administrative control over data visible to individual users. Workflows to show status for process steps and email notifications when a workflow step is ready for input or review. Once learned, allows for creation of new processes to collect or report data.

Cons:

Having to download each Excel file, but once downloaded, it's easy to select the data we want to see.

Cloud Based Excel Software

Comments: At ANet we completely re-modelled our reporting and we saved man power and time byinstalling vena.

Pros:

Vena is a plug in for Excel, so the basic functionality for excel is all there. You don't need to learn a new software.

Cons:

Integration can be improved. Sometimes integrations are complicated. It is not user friendly for Mac users.

Come an intelligent solution for your company and making reports and dashboards

Comments: What fascinates us most about this instrument is that Vena allows us to complete checklists/end-of-month checks. Each of the to-do's can be easily found on a single board/screen.

Pros:

What fascinates us most about this instrument is that Vena allows us to complete checklists/end-of-month checks. Each of the to-do's can be easily found on a single board/screen.

Cons:

Since we have used this product, we have not found a single flaw because the product we use is unique to our organization. As monthly reports now have the ability to provide department managers within a minute of the books closing

Powerful, User Friendly Budgeting, Reporting, and Analysis Tool

Comments: Improved budgeting and ad hoc reporting

Pros:

The Excel interface is my favorite part about Vena. Everyone within our business is familiar with and comfortable using Excel. Therefore, when we started using Vena for budgets, our contributors did not have to learn a completely new interface. However, Vena offers so much more than just Excel. I love how Vena shows you who made changes to the file and what the previous values in the file were. It helps hold people accountable. It is also very easy to make powerful reports using Vena.

Cons:

We built a very complicated template which took a long time to open. However, Vena was very helpful in helping us optimize our template and improve the performance drastically.

VENA SOLUTIONS IS AWESOME!

Pros:

I particularly like how easily Vena integrates with my existing software programs (Microsoft Excel based), and the support provided to our business has been second to none!

Cons:

There were a few glitches during set-up and installation and there is a bit of a learning curve as we customized the program to fit our particular requirements, however customer support made life as easy as possible.

The ease of use is a big plus for me, but the consistent rollout of buggy updates is frustrating

Pros:

The ease of use is a big plus for me. Was able to pick up a majority of the best practices within a couple weeks of use

Cons:

I realize you are continually trying to enhance the product, but quality has been faulted in the past couple months.

Great software to consolidate numbers from multiple sources

Comments: Overall great experience using their spreadsheet templates which saves you a lot of time and helps you avoid errors.

Pros:

I used to work at a bank where we had to collect financial information from numerous departments and Vena really helped us reduce the time we spent on consolidating the balances and avoid errors. Overall, a great software package if you need to collect huge amounts of the same data from different sources.

Cons:

The only issue I had with this software was updating the template if new requirements were issued. If you contact customer support they can definitely help you but if you decide to do it yourself you need to become an expert in Vena.

Templates worked fairly well

Comments: Overall I really liked working with Vena. It housed some very key templates and data for budgeting, forecasting, and cash flow analysis. It may only be my company, but our workflows never seem to work correctly. The templates and background data integrate well and are easy to use, though. Wouldn't be upset at all if my next company utilized Vena.

Pros:

The ability to store templates and data was pretty seamless and worked well

Cons:

Workflows were odd and confusing - could never get them to work. Sorting templates to find the data you needed was equally as difficult, although that could have been an institutional thing.

Lots of features!

Pros:

Its similar to Excel which gives me familiarity and makes a bit easier to understands and navigate.

Cons:

I have only used it for a short while. It has a lot of features, which can possibly be a little confusing, but a fault of the software, just that I have not yet fully explored it and used it long enough to understand all the options it provides.

Vena

Comments: Useful product but hard to use without constant support from their consultants.

Forecasting/budgeting

Pros:

The ease of switching between the different departments while within one spreadsheet. Eliminating the need to open/save/refresh each individual department spreadsheet in separate files.

Cons:

I'm still figuring out all of the uses, so it may be available and I just don't know how. It would be helpful to be able to utilize more of the excel features, such as freezing rows/columns.

VENA

Pros:

Excel based which makes it very easy to use when you're already using excel.

Cons:

The cut and paste feature takes a while specially since I work with big files.

Powerful tool for budgeting and forecasting

Pros:

Adaptability with Excel while still being able to use all Excel native functionality. Easy to input variables and run data rich spreadsheets

Cons:

Setup time on individual templates can be cumbersome. Error messages are not very specific so you spend lots of time contacting the Help Desk.

A valuable tool for team

Pros:

This tool reduces forecasting/financing time drastically and integration of all data source features on this single platform makes it valuable.

Cons:

As of now, I didn't find anything to be disliked.

Review of VENA reporting and budgeting capabilities

Comments: VENA leadership very supportive of our implementation. Reacted quickly to our concerns

Pros:

Ease of design and compatibility with Excel. Flexibility in implementation allowed us to try multiple iterations and change items like budget template design mid project.

Cons:

Some start up bugs - Excel add in had to be added in a few times. Some users experienced unexplained data losses. Compatibility with MACs an issue