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Infrrd OCR vs Redwood Software - Finance Automation Edition comparison

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Buyer's Guide
Intelligent Document Processing (IDP)
April 2024
Executive Summary

We performed a comparison between Infrrd OCR and Redwood Software - Finance Automation Edition based on real PeerSpot user reviews.

Find out what your peers are saying about ABBYY, Automation Anywhere, UiPath and others in Intelligent Document Processing (IDP).
To learn more, read our detailed Intelligent Document Processing (IDP) Report (Updated: April 2024).
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Featured Review
Use Infrrd OCR?
Ram Chenna
Single bot now replaces five associates who previously handled finance processes and eliminates manual errors
Redwood streamlined our financial closing process in two ways. Firstly, we've reduced the number of personnel needed. A single bot now replaces... Read more →
Quotes From Members
We asked business professionals to review the solutions they use.
Here are some excerpts of what they said:
Pricing and Cost Advice
Information Not Available
  • "The licensing was purely based on the number of transactions being processed in production."

    • More Redwood Software - Finance Automation Edition Pricing and Cost Advice →

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    What do you like most about Redwood Business Process Automation - Finance...
    Top Answer:Redwood has a great feature where it logs every transaction. So, at any point, we can see every step taken for each transaction. It creates an audit trail of the entire process execution. It is a… more »
    Read all 3 answers   →
    What is your experience regarding pricing and costs for Redwood Business ...
    Top Answer:The pricing is very client-specific. It's not a one-size-fits-all price. They don't have a single price for everyone. It's based on the client and the number of transactions. As Vodafone, a large… more »
    Read all 3 answers   →
    What needs improvement with Redwood Business Process Automation - Finance...
    Top Answer:Everything seems to be working well. However, I see value in integrating AI for automation. So, I would like to see AI integration for automation in future releases. Ideally, after I perform postings… more »
    Read all 3 answers   →
    Ranking
    16th
    out of 58 in Intelligent Document Processing (IDP)
    Views
    297
    Comparisons
    245
    Reviews
    0
    Average Words per Review
    0
    Rating
    N/A
    19th
    out of 81 in Robotic Process Automation (RPA)
    Views
    486
    Comparisons
    322
    Reviews
    2
    Average Words per Review
    1,150
    Rating
    8.5
    Comparisons
    Also Known As
    Redwood Business Process Automation - Finance Edition, Redwood Robotics, Redwood Finance Automation
    Learn More
    Infrrd
    Video Not Available
    Redwood Software
    Overview

    Infrrd's OCR is used for scanning and extracting data from a wide range of documents. It allows the documents to be uploaded as text documents instead of images. Any kind of printed document, be it receipts, invoices, contracts, utility bills, licences, bank statements etc can be scanned easily and promptly with this solution. Infrrd OCR uses NLP instead of templates for recognizing entities in the document, and Machine learning for building an automatic context around the document being handled.

    The volume of repetitive, manual tasks across finance is overwhelming – every day or at the end of every month, quarter or year. Redwood’s finance automation reduces that unnecessary and time-consuming manual effort. We know because our customers tell us that our finance automation solution helps them achieve a much higher degree of back-office process automation compared with alternatives.

    Sample Customers
    GE, Levi's, Staples
    ArcelorMittal, Alliant Energy, Allianz, Arla, Bacardi, CPS Energy, DSM, Faurecia, Genetech, Jabil, Jumbo,
    Top Industries
    VISITORS READING REVIEWS
    Financial Services Firm17%
    Computer Software Company15%
    Comms Service Provider11%
    Educational Organization8%
    VISITORS READING REVIEWS
    Financial Services Firm18%
    Energy/Utilities Company16%
    Computer Software Company9%
    Manufacturing Company5%
    Company Size
    VISITORS READING REVIEWS
    Small Business21%
    Midsize Enterprise8%
    Large Enterprise71%
    VISITORS READING REVIEWS
    Small Business18%
    Midsize Enterprise9%
    Large Enterprise73%
    Buyer's Guide
    Intelligent Document Processing (IDP)
    April 2024
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    Infrrd OCR is ranked 16th in Intelligent Document Processing (IDP) while Redwood Software - Finance Automation Edition is ranked 19th in Robotic Process Automation (RPA) with 3 reviews. Infrrd OCR is rated 0.0, while Redwood Software - Finance Automation Edition is rated 9.0. On the other hand, the top reviewer of Redwood Software - Finance Automation Edition writes "User-friendly and enables automation in finance, HR, and SDM". Infrrd OCR is most compared with HyperScience, Instabase, Tungsten TotalAgility and ABBYY Vantage, whereas Redwood Software - Finance Automation Edition is most compared with UiPath, BlackLine, Blue Prism, Blue Prism Cloud and Automation Anywhere (AA).

    We monitor all Intelligent Document Processing (IDP) reviews to prevent fraudulent reviews and keep review quality high. We do not post reviews by company employees or direct competitors. We validate each review for authenticity via cross-reference with LinkedIn, and personal follow-up with the reviewer when necessary.