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Vena vs Adaptive Insights

  • 1.  Vena vs Adaptive Insights

    Posted Jun 13, 2019 12:44
    Hi all!
    Has anyone ever used Vena or Adaptive Insights for fiscal/budget purposes and have feedback?

    Thanks!

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    Shubha Bala
    Center for Court Innovation
    Brooklyn
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    2020 Nonprofit Technology Conference Logo  w/ Baltimore Skyline


  • 2.  RE: Vena vs Adaptive Insights

    Posted Jun 14, 2019 08:35

    I haven't used Adaptive Insights, but we almost selected it as our tool 4 years ago but couldn't afford it.  We wish we had.  I have heard a lot of good things about it, but I have also seen pretty consistently complaints from organizations that are heavily grant based with complex allocation of expenses according to grants.   What I keep on hearing is that the back end of adaptive insights is more like a group of connected spreadsheets, than a database, making relationships harder to manage.

    It may have all changed by now, but please confirm their architecture will meet your needs by having them do a full proof of concept if you are heavily grant dependent and most transactions are tagged to the source of funding

     

    Dan.

     

    Dan Shenk-Evans | Director of IT | Capital Area Food Bank

    P. 202.644.9803 | O. 202.644.9800 | F. 202.527.1767

     

     

     




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  • 3.  RE: Vena vs Adaptive Insights

    Posted Jun 24, 2019 17:03
    What did you end up using, if I may ask?

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    Shubha Bala
    Center for Court Innovation
    Brooklyn
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    2020 Nonprofit Technology Conference Logo  w/ Baltimore Skyline


  • 4.  RE: Vena vs Adaptive Insights

    Posted Jun 25, 2019 11:44
    Edited by Dan Shenk-Evans Jun 25, 2019 11:45
    We ended up choosing Budget Maestro by Centage simply because of budgetary concerns.  It has vastly improved our budgeting, although there are some limitations that also are annoying (like all software?).   We have not upgraded to their latest web-based system, so I look forward to seeing if they fixed some of the limitations.  I admit that some of the limitations are based on how it ended up being configured for us, but I still think they could have made it easier to see roll-ups on the screen (so more details can be tracked), and keep comments closely tied to particular periods.  We budget at the activity level combined with department NNNN-DD-AAA, and without roll-up on the screen, we decided to budget one line per GL string.   That means we all still have spreadsheets, although I have a sense no one ever gets away from spreadsheets completely.   But at least for line item totals for each expense that goes into a GL string, I don't want to do double data entry.

    Dan

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    Dan Shenk-Evans
    Director of IT
    Capital Area Food Bank
    Washington DC

    dshenkevans@capitalareafoodbank.org
    202-644-9803
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    2020 Nonprofit Technology Conference Logo  w/ Baltimore Skyline


  • 5.  RE: Vena vs Adaptive Insights

    Posted Jun 14, 2019 08:44
    Hello!

    Very interested as we are considering Vena for our needs. We have gone through a few demos and are very much interested in their capabilities with:

    1. Budgeting incl. automatic transmission of data post submission
    2. Workflow
    3. Analytics / data visualisation
    4. Data warehousing inc. consolidation from various sources

    Are there any features that I did not list that you are looking at? Or that Adaptive Insights offers above this list? Asking to see whether there are features we have not considered which may help our business.

    Pricing was higher than I would have expected. Their pricing model (at least the one they have presented to us) was user based which is prohibitive as we have many users which would need to input information. Additionally their model required us to host the product on their cloud software (which means both potentially out of country and more costs). I did ask whether it was possible for us to host locally or on a cloud server of our choice and they replied no.

    On pricing and service model - keep in mind that saas pricing models are changing regularly and so the above may not be what they would present today. This was five months ago.

    Thanks for starting the discussion :)

    Joshua




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    Joshua Grant
    Controller
    Pathways to Education Canada
    Thornhill, ON
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    2020 Nonprofit Technology Conference Logo  w/ Baltimore Skyline


  • 6.  RE: Vena vs Adaptive Insights

    Posted Jun 16, 2019 07:14
    Also very keen to follow! Every year adaptive is too expensive for us. A company called Prophix is chasing us but no one has ever heard of them. We also need whatever we use to connect to NetSuite, which we know Adaptive does. NetSuite has their own budgeting tool but I don't know how good it is.

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    Kristen Balash
    FSG
    Boston, MA
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  • 7.  RE: Vena vs Adaptive Insights

    Posted Jun 16, 2019 14:13

    Prophix is a well established company as well.   No reason not to look at them.

     

    Dan

     

     

    Description: Description: CAFB_LogoMain_New_02.png

    Description: Description: feeding.jpg

    Dan Shenk-Evans | Director of IT | Capital Area Food Bank

    P. 202.644.9803 | O. 202.644.9800 | F. 202.527.1767

    dshenkevans@capitalareafoodbank.org

    4900 Puerto Rico NE, Washington DC 20017

    capitalareafoodbank.org

     

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    2020 Nonprofit Technology Conference Logo  w/ Baltimore Skyline