Founded in Tartu in 2016, the technology company VEERA OÜ, whose core business is the development and sales of the cloud-based budgeting application VeeRa (Virtual Budgeting Application), will celebrate its 10th anniversary in 2026. VeeRa is used by the majority of Estonian local governments, most state IT organisations, and many other public- and private-sector organisations. The application has over 5,000 active users daily, and the total volume of budgets managed through VeeRa exceeds EUR 5 billion.

Äripäev selected the company for its Gassell TOP list in 2023, 2024, and 2025. The company holds an international ISO/IEC 27001:2022 information security certification, and the VeeRa trademark is registered with the European Union Intellectual Property Office (EUIPO).

Initially, the application was designed primarily for public-sector budget planning, with the aim of creating a convenient information channel – a communication hub – between different units and departments within an organisation. Today, VeeRa has brought greater simplicity and accuracy to the financial management of most Estonian local governments and many other large organisations, making budget planning more efficient, transparent, and user-friendly for officials and budget owners.

For example, in the final report of the study “Analysis of the Main Information Systems Used by Local Governments to Provide Services to Residents”, commissioned by the Association of Estonian Cities and Municipalities (AECM)and carried out by Proud Engineers OÜ in 2022, VeeRa was highlighted as one of the few positive examples. The report notes that VeeRa did not evolve from a purely technical solution, but from an understanding of a specific service — meaning that service management capability and control over the service have developed naturally rather than being acquired retrospectively.

Who Is VeeRa Designed For?

VeeRa is not intended solely for financial professionals with extensive accounting or Excel expertise. It is equally important that an intelligent budgeting solution is a practical and intuitive working tool for managers of subordinate institutions and organisational units, such as schools, kindergartens, cultural and sports institutions, departments, sub-units, and project managers. One of the key outcomes of using VeeRa is an increase in employee responsibility and ownership.

There is a significant difference between budgets being prepared in a CFO’s office based on verbally communicated information and each unit manager entering their own cost figures directly into the system. When planning budgets in VeeRa, unit managers can add meaningful context to the numbers by commenting on them or attaching supporting materials such as quotations, calculation bases, product images, and other relevant information. Budgets can be commented on down to individual cost lines.

This creates a situation where responsibility for planning and using financial resources becomes clearer, more transparent, and more personalised. In addition, VeeRa’s convenient reporting and roll-up functionality allows all stakeholders to monitor budget execution on a daily basis, down to a very detailed level.

VeeRa Capabilities

VeeRa is currently integrated via a secure API with 11 different financial and ERP systems, including SAP BO, Microsoft Dynamics 365 Business Central, Microsoft Axapta, Directo, Merit Aktiva, Standard Books, Agresso Unit4, SAF, Rapid, PMen, and Tresoor.

Data Visualisation

It is often said that a picture is worth a thousand words. In addition to managing numerical data, many VeeRa customers also wish to visualise their data. Alongside VeeRa, interactive management dashboards and views built on Microsoft Power BI are offered as a complementary solution.

Power BI (Power Business Intelligence) is a world-leading, scalable business analytics platform developed by Microsoft, enabling interactive visualisations and business intelligence solutions with external data integrations. For example, the VeeRa team has created public budget views for the websites of numerous local governments across Estonia, as well as internal management dashboards for private-sector organisations, using Power BI.

In addition to VeeRa, Power BI can also be integrated with other external data sources, including Excel and various databases.