Vena Reviews & Pricing

by Vena Solutions, Inc. | by Vena Solutions Inc. Founded 2011, Albany, NY

REQUEST WITH NO OBLIGATION$ Request Pricing Get Free Demo

Overview Pricing Benefits Reviews Features

Categories:

What is Vena?

Industry Specialties: Serves all industries

Vena is a cloud-based platform designed to streamline financial close and consolidation processes for businesses. It caters to mid-sized and large organizations, particularly those with complex account structures and diverse reporting requirements. Key benefits include centralized data management, automated workflows, and real-time reporting capabilities, which contribute to improved accuracy, efficiency, and transparency in financial operations. Popular features include its user-friendly interface, robust data reconciliation tools, and flexible reporting formats. User reviews highlight Vena's ability to significantly reduce manual tasks, improve collaboration between finance teams, and generate consolidated reports quickly. However, some users note the occasional occurrence of technical glitches and limited customization options. Pricing is based on a subscription model, with varying tiers depending on the number of users, functionality required, and data volume. Costs are typically in the range of $5,000 to $25,000 per year, billed annually.

Pros

Streamlines financial close and consolidation
Improves accuracy and efficiency
User-friendly interface
Robust data reconciliation tools
Flexible reporting formats

Cons

Occasional technical glitches
Limited customization options
Relatively high cost
Learning curve for new users
May not be suitable for small businesses

PRICE

COMPANY SIZE

DEPLOYMENT

PLATFORM

Try Before You Buy.

Request a Free Demo Today!

Request Demo

It's completely free!

User Sentiment

Based on 304 reviews:

Add your rating:

Product Screenshots and Videos

Vena Pricing

Based on our most recent analysis, Vena pricing starts at $5,000 (Annual).

Get Price Quote

Price: $
$
$
$
$

i
Starting From: $5,000
Pricing Model: Annual
Free Trial: Yes, Request for Free

Training Resources

Vena is supported with the following types of training:

Documentation
In Person
Live Online
Videos
Webinars

Support

The following support services are available for Vena:

Email
Phone
Chat
FAQ
Forum
Help Desk
Knowledge Base
Tickets
Training
24/7 Live Support

Vena Benefits and Insights

Why use Vena?

Key differentiators & advantages of Vena

Automation: Eliminate manual data entry and human errors to produce trustworthy budgets with prompt data collection and consolidation
Cloud Usage: Access data and spreadsheets from practically any location anywhere with an internet connection with the cloud database.
Permissions: Protect sensitive data and spreadsheets by only sharing them with significant users.
Accuracy: Assign tasks, status alerts and reminders fast. Catch mistakes before they happen and dig deep into the numbers to find the source of their data.
Integration: Combine sales, marketing, customer care and finance data from customer analytics, marketing automation, GL systems and more.

Industry Expertise

Vena Solutions client base includes patrons in the U.S., Canada and the United Kingdom. Its industries include food and beverage, education and retail. Its mission leverages CORE — customer trust, one team, respect and authenticity and execution excellence — to gain clients' reliability, offer faith within their crew, remain humble and empathetic and adapt to their clients' changing needs.

Vena Reviews

Average customer reviews & user sentiment summary for Vena:

304 reviews

86%

of users would recommend this product

Synopsis of User Ratings and Reviews

Based on an aggregate of Vena reviews taken from the sources above, the following pros & cons have been curated by a SelectHub Market Analyst.

Pros

Customer Support: Approximately 80% of users who mentioned customer support said the team was helpful and quick in troubleshooting issues.
Performability: Of the users who discussed this solution's performance, 67% stated it's easy to use, provides top-notch financial information and is SOX compliant.
Modules: Nearly 59% of users who addressed this platform's modules said they're easy to use and offer superb financial planning and analysis information in a timely fashion.
Integrations: Of the users who discussed this program's integrations, 80% of users said it seamlessly merges with Power BI, Netsuite and other ERP systems.

Cons

Limited Customization Options: While Vena offers some customization features, they might not be sufficient for highly specific needs or complex workflows.
Occasional Technical Glitches: Some users report experiencing occasional technical glitches and bugs, which can disrupt workflows and impact productivity.
Relatively High Cost: Vena's subscription fees can be expensive for small businesses or those with limited budgets.
Learning Curve for New Users: Although Vena has a user-friendly interface, it may require some time and training for new users to become fully proficient.
May Not Be Suitable for Small Businesses: Vena's features and functionalities might be overkill for small businesses with simple accounting needs.

Researcher's Summary:

Reviews for Vena present a mixed bag, highlighting both its strengths and weaknesses in comparison to similar products. Users praise its user-friendly interface, robust data reconciliation tools, and flexible reporting capabilities. One user remarked, "Vena feels like Excel, but with the power to handle our complex financial data without breaking a sweat." However, some users bemoan limited customization options, stating, "We wanted to tailor Vena to our specific workflows, but the customization tools felt restrictive." Additionally, occasional technical glitches and a relatively high cost compared to competitors like Adaptive Insights and Oracle Cloud EPM were points of concern. Despite these drawbacks, many users believe Vena's strengths outweigh its weaknesses. They appreciate the ease of use, improved accuracy, and streamlined financial processes it offers. One user noted, "Vena has helped us reduce our closing time by 50%, which frees up valuable time for analysis and strategic planning." Ultimately, Vena seems best suited for medium to large organizations with complex financial needs who prioritize ease of use and powerful functionalities. For smaller businesses or those with simpler requirements, alternative solutions might be a better fit.

Key Features

Budgeting, Planning & Forecasting: Ensure budgets are consistent across the board and simple to merge with any data source, Excel or otherwise. Utilize the drag-and-drop feature to seamlessly automate the budget processes while designating tasks to employees, keeping stakeholders in the loop with email notifications and monitoring workflows.
Reporting & Data Analytics: Review live data from any department or business on any device with personalized dashboards. “What-If” modeling permits users to visualize results promptly and share them with stakeholders to make data-informed decisions.
Regulatory Reporting & Compliance: Consolidate data and spreadsheets into one central, secure, cloud-based database in real time. Customize roles and permissions to define and enforce strict controls for all users.
Revenue Performance Management: Evaluate customer data such as NPS scores, product usage metrics, customer acquisition and support costs in a single database. Improve customer satisfaction, zero-in on the right customers and bump up customer lifetime value with vital client KPIs.
Technology Platform: Revert to previous spreadsheet versions effortlessly to study changes over time and dig deeper into the reasons behind reported numbers by drilling down to supporting details.

Approach to Common Challenges

Manual Data Entry and Reconciliation: Vena automates data collection and reconciliation, eliminating manual effort and reducing errors.
Lack of Visibility and Control: Vena provides real-time insights into financial data, enabling better decision-making and proactive control over finances.
Inefficient Collaboration: Vena facilitates seamless collaboration between finance teams through a centralized platform and integrated communication tools.
Complex Reporting Requirements: Vena offers flexible reporting capabilities with pre-built templates and customizable dashboards, catering to diverse reporting needs.
Scalability Issues: Vena's cloud-based architecture allows for easy scalability to accommodate growing businesses and increasing data volumes.

Cost Of Ownership

Frequently asked questions regarding Vena pricing include:

Q: What are the different pricing tiers available for Vena?
A: Vena offers two primary pricing tiers: Professional and Complete. Professional starts at $5,000 per year and includes access to the core platform, collaboration tools, and standard support. The Complete tier, starting at $10,000 annually, adds features like Microsoft Power BI integration, premium support, and a dedicated customer success manager. Both tiers can be customized with additional modules and services depending on specific needs.
Q: What are the additional costs associated with Vena besides the subscription fee?
A: Beyond the subscription fee, users may incur additional costs for implementation, training, and ongoing maintenance. Implementation typically ranges from $10,000 to $30,000 depending on the complexity of the project. Training costs around $1,000 per user, and ongoing maintenance fees are usually around 15% of the annual subscription price. Clarifying these extra costs upfront is crucial for budgeting and accurately estimating the total cost of ownership.
Q: Does Vena offer discounts for non-profit organizations or educational institutions?
A: Yes, Vena provides special pricing for non-profit organizations and educational institutions. These discounts can range from 10% to 25% off the standard subscription price. Contacting Vena directly is recommended to confirm eligibility and obtain specific pricing details.

Limitations

Vena is a robust solution, but some user feedback points to a steep learning curve and a lengthy installation. The known limitations at the time of this review's publication include:

Tough learning curve
Lengthy implementation
Complicated user interface

Suite Support

Email: Users may email [email protected] for support.

Phone: All users may dial 1 (855) 207-1770 ext. 3 for phone assistance in the US. For Canada, users can dial 1 (426) 207-1770. For U.K./E.U. users can dial 44-207-117-2595.

Training: For how-to videos, useful tips and FAQs, users may visit the Vena Customer Portal or click the “Learn” tab for the CFO Playbook blog containing various articles, how-to and informative videos.

Tickets: To submit a ticket, click the “Contact Us” link under the “About” section at the top of Vena Solutions’ website.

Demo Resources

Resources that provide Vena demo insights include:

Webinars: View live or on-demand webinars showcasing product capabilities and demonstrating real-life use cases.
Case Studies: Explore success stories from various businesses to understand how they leverage Vena for improved financial operations.
Interactive Tutorials: Utilize interactive tutorials and guided tours to explore the Vena platform at your own pace and gain hands-on experience.
Product FAQs: Access detailed answers to commonly asked questions, clarifying any doubts or concerns regarding Vena's functionalities.
Live Chat Support: Connect with Vena product experts in real-time via live chat to get instant answers and personalized demo assistance.

FAQ

Frequently asked questions regarding Vena include:

Q: How does Vena integrate with existing ERP systems?
A: Vena integrates seamlessly with various popular ERP systems, including SAP, Oracle, and NetSuite, through pre-built connectors. This ensures smooth data flow and eliminates the need for manual data entry.
Q: Is Vena compliant with industry regulations and standards?
A: Yes, Vena is compliant with relevant industry regulations and standards, including SOC 2, GDPR, and HIPAA. This ensures the highest levels of data security and privacy for users.
Q: How does Vena help improve collaboration between finance teams?
A: Vena provides a centralized platform for finance teams to work together seamlessly. Features like shared dashboards, real-time communication tools, and collaborative workflows promote transparency and facilitate effective teamwork.
Q: How can Vena be customized to meet specific business needs?
A: Vena offers a high degree of customization through its flexible data model, scripting capabilities, and open API. This allows businesses to tailor the platform to their specific workflows and reporting requirements.
Q: What are the benefits of using Vena for consolidation processes?
A: Vena streamlines and automates consolidation processes, leading to faster closing times, improved accuracy, and enhanced control over intercompany transactions. This results in more efficient financial operations and better decision-making.
Q: What is the learning curve associated with using Vena?
A: Vena offers a user-friendly interface and comprehensive training resources, making it relatively easy to learn. However, some users may need additional time and support to fully utilize all advanced features.
Q: How does Vena compare to similar financial software solutions?
A: Vena stands out from competitors with its user-friendly interface, robust data reconciliation tools, and flexible reporting capabilities. Additionally, its cloud-based architecture offers scalability and ease of deployment.