How Vena Solutions compares to common alternatives

Comparing Vena with other EPM Tools to find the right fit

TriFinance is tool-agnostic by design, meaning we always focus on finding the best solutions for our client's specific needs. For EPM, however, we have a strategic partnership with Vena Solutions because we believe in Vena Solutions’ deep integration with the Microsoft stack. To maximize Microsoft technology investments, Vena Solutions strategically integrates with Microsoft  Excel, PowerPoint, Power Bi, Teams, Copilot, etc. 

While we value Vena's strengths, we also recognize the wide range of EPM alternatives available. This page compares Vena Solutions with other common options, helping you choose the right EPM tool for your needs.

Why Vena Solutions?

Vena Solutions (www.venasolutions.com) 

is a good choice for organizations looking to streamline and professionalize their Financial Planning & Analysis (FP&A) and reporting processes.

Vena’s deep integration with Microsoft Excel, Microsoft 365, and Power BI allows users to work in a familiar environment while leveraging advanced features like centralized data storage, workflows, and enhanced auditability.

Vena Solutions is a prominent player in the EPM software industry. Its standout feature is its Excel-based platform that supports financial reporting, sales performance management, financial close, and ESG reporting.

As a recognized "Challenger" in the Gartner Magic Quadrant for Financial Planning software, Vena delivers robust solutions for budgeting, financial reporting, and ESG reporting. Vena is also recognized as a "Visionary" in the Magic Quadrant for Financial Close and Consolidation Software.

TriFinance’s certified Vena consultants help organizations optimize their FP&A processes and tailor the software to their specific needs.

Key Capabilities and Differentiators of Vena Solutions

The following capabilities truly differentiate Vena from alternative EPM solutions: 

1. Excel Integration: Vena Excel Integration: Most FP&A professionals rely on Excel for their planning process. Instead of eliminating Excel, Vena will leverage the familiarity and flexibility of Excel. Users can continue working in the familiar Excel environment while benefiting from improved data management and automation. This approach reduces the learning curve and boosts user adoption.
   
2. Powerpoint Integration:In addition to Excel, Vena integrates with Microsoft PowerPoint to automate FP&A and reporting presentations. This boosts productivity and efficiency, as presentations are directly linked to the Vena data model and automatically update with real-time data changes.
   
3. Vena Copilot: Vena Copilot serves as an FP&A assistant for non-financial users. Built on Azure OpenAI, it utilizes a specialized Large Language Model designed specifically for budgeting and forecasting, making financial processes more accessible and intuitive for all users.
   
4. Project Length: Vena ranks first in the BARC Planning Survey for its implementation speed. With Vena, you can start small projects and scale up when needed, so you get fast results.
   
5. Price to value: Vena offers a more modest licensing cost compared to many competitors, earning recognition as a leader in the BARC Planning Survey for its price-to-value ratio. Pricing is based on a platform fee and a user-based pricing model, depending on the type of user. This makes Vena a highly scalable and cost-effective solution for organizations of all sizes.
   
6. Ease of use: Not only for end users but also for key users, Vena offers a user friendly interface. Since input templates and reports are built in Excel, key users will leverage their existing Excel knowledge to build a planning solution in Vena. This lowers the learning curve and makes sure you can be self-sufficient.
   
7. Cloud-Based Platform: As a cloud-based solution, Vena offers scalability, remote accessibility, and lower total cost of ownership. The cloud infrastructure ensures that data is always up-to-date and accessible from anywhere. It’s scalability makes it suitable for organizations of all sizes.
   
8. Collaboration and Workflow Automation: Vena’s workflow and collaboration features are no code solutions. They make it very easy to streamline communication and approval processes. This improves efficiency and ensures that all stakeholders are aligned and informed.

Five EPM tools to compared with Vena Solutions

1. Wolters Kluwer Tagetik

Overview: Wolters Kluwer Tagetik (www.wolterskluwer.com/nl-nl/solutions/cch-tagetik) is a comprehensive EPM solution that supports budgeting, planning, forecasting, and financial consolidation. It is recognized as a Leader in both the Gartner Magic Quadrant for Financial Planning Software and the Gartner Magic Quadrant for Financial Close and Consolidation Software.

Strengths: Tagetik excels in regulatory compliance, including disclosure management, financial close, corporate tax reporting, and financial and ESG reporting. The platform offers extensive content, such as its consolidation engine, and supports IFRS 9, 16, and 17, CSRD, Tax Pillar II, and Solvency II reporting. It is highly ranked for its workflow efficiency, price-to-value ratio, and functionalities, including data integration, predefined content and models, and workflows.

Limitations: The implementation process can be lengthy and complex, requiring significant technical expertise. Tagetik also scores below average in flexibility.

Read how Tagetik compares to common alternatives.

2. Board International

Overview: Board International (www.board.com) offers an all-in-one decision-making platform that integrates business intelligence (BI), EPM, and analytics. Board International is recognized as a Leader in the Gartner Magic Quadrant for Financial Planning Software and as a Visionary in the Gartner Magic Quadrant for Financial Close and Consolidation Software.

Strengths: Board International combines EPM functionalities with BI capabilities, so it can be used for multiple purposes. It can also be integrated with various source systems and is highly ranked for its ease of use.

Limitations: The implementation process can be lengthy and complex. According to BARC, the price-to-value ratio is below average.

3. Oracle Cloud EPM

Overview: Oracle Cloud Enterprise Performance Management (EPM) (www.oracle.com/be/performance-management) is a comprehensive suite of cloud-based applications for managing financial planning, budgeting, forecasting, and reporting. It supports a wide range of corporate performance management functions.

Strengths: Oracle Cloud EPM provides advanced features like financial close, consolidation, strategic modeling, and detailed reporting, making it a strong option for extensive EPM requirements.

Limitations: The interface feels somewhat less intuitive, and the platform's complexity may require extensive training, presenting a steeper learning curve for users.

4. OneStream

Overview: OneStream (www.onestream.com) provides a unified platform for financial consolidation, planning, reporting, and analytics.

Strengths: The platform supports a wide range of financial and operational solutions with strong integration capabilities. Onestream is top-ranked for customer satisfaction as well as for its functionalities (data integration, predefined content and models, workflows, etc.).

Limitations: Implementation can be complex, requiring more technical skills from key users compared to Excel-integrated solutions. The unified platform approach may limit external reporting options and could impact license costs.

5. Anaplan

Overview: Anaplan (www.anaplan.com) is a cloud-based planning platform that provides comprehensive solutions for business planning and performance management.

Strengths: Anaplan excels in scalability, real-time data analysis, and collaborative planning across multiple business functions. It is top-ranked for business value (business benefits, project success, and project length) and also its planning functionalities (including predictive planning).

Limitations: Implementation can be complex and time-consuming, and the platform may require significant customization to meet specific business needs.

6. How to select your EPM tool?

When selecting an EPM tool, it's essential to consider factors such as ease of use, integration capabilities, scalability, and support.

• Ease of Use: To promote widespread acceptance across the enterprise, the tool should be intuitive and user-friendly.
• Integration capabilities: It should be easy to connect the tool with current systems and data sources, offering users a unified perspective of the business.
• Scalability: As your company grows, the tool should grow with it, handling increasing data quantities and complexity.
• Support: Effective customer service and training are essential for optimal deployment.

7. Maximizing performance with the best EPM tool for your business

To drive your business’s profitability and maximize its performance, choosing the right EPM tool is crucial. The EPM tool that is right for your company will optimize your business processes, improve decision-making, and ensure compliance.

Vena Solutions offers deep integration with Microsoft technologies and strong financial and operational planning features. Other EPM options, however, also have unique strengths. Think about Wolters Kluwer Tagetik, Board International, Oracle Cloud EPM, OneStream, or Anaplan. These alternatives may better align with your organization's specific needs, helping you maximize efficiency, accuracy, and profitability.