Jiffy.ai Automate vs Redwood Software - Finance Automation Edition comparison

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Executive Summary

We performed a comparison between Jiffy.ai Automate and Redwood Software - Finance Automation Edition based on real PeerSpot user reviews.

Find out what your peers are saying about UiPath, Microsoft, Automation Anywhere and others in Robotic Process Automation (RPA).
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Featured Review
Quotes From Members
We asked business professionals to review the solutions they use.
Here are some excerpts of what they said:
Pros
"The way Jiffy.ai integrates into existing infrastructure has been great for us. Our company is pretty stringent when it comes to cyber security and integrating with our apps... We've definitely had very strong scrutiny over this platform and this work, and even within that, it's been really successful at being able to integrate.""I found the invoice data extraction very exciting. It is really good.""Its initial setup process was quite efficient.""With the customization option, we can write custom expressions using its compatibility with Python or other programming languages.""The most valuable feature is the computer vision or OCR. That has a lot of use cases in real life. A lot of man hours can be saved, as we've seen in the finance processes... The feedback I have gotten from the team is that the OCR is quite powerful.""It is a one stop solution for automating process. The modular way that is assigned and works together follows a certain logic, and it encompasses a wide range of processes in a very structured and logical manner.""It removes the burden of having to do some tasks manually. However, we are just using it in production for a single project. It saves us a lot of time in terms of extracting that information. So far, it has made a big impact.""The biggest driver was the cost savings. We wanted to improve productivity and save costs. Therefore, we gave most of the mundane tasks currently being done by a human to a bot. Some of the mundane tasks were reading invoices and keying in the data. We are talking about 15,000 documents every day. That is a huge volume that needs a lot of people. With the bot, it is just a fraction of the cost, because there is a huge savings in terms of manpower."

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"The out-of-the-box finance modules within the Redwood Finance framework help to speed up the process, versus designing and writing generic BOT code.""So the best thing is ease of use.""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 really good feature. This eliminates the need for extra coding or report generation. The audit report is readily available within the tool itself."

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Cons
"The setup process could definitely be better.""I believe this is also being addressed, but a lot of the platform work, as we were putting in new versions or making some updates, was, ironically, very manual. It's improved greatly, but I would imagine that's an area that they're probably still working on, on the backend, to help when it comes to what we need to do for platform support.""The solution's support services need improvement.""The UI or the UX has room for improvement. The approach for designing the workflow is not that straightforward. It's quite difficult.""Initially, in version 3, Jiffy.ai did not have support for containerization. In our environment, we are heavy users of containers and container illustrators. So, the initial deployment option was running based on individual hosts that we deployed in the cloud. That created a singularity in the way that we deployed services in our system.""When using UiPath automation, we could just Google issues if we were stuck with something. In the initial days with Jiffy.ai, we could not get that type of information from Google because there wasn't much of a community.""They are still new in the market. Or, at least, they are still a small player. They require a lot of improvement in terms of learning material as well as the community developers. If you compare Jiffy.ai to an established solution, like UiPath, you can go to YouTube and find a lot of learning material posted by UiPath, partners, and other people in the community. However, for Jiffy.ai, you won't find that available in the market. Because of this it is very hard for us to find talent in the market. Most of the developers in the market are used to the bigger players. For Jiffy.ai, if you search a resume because you are trying to find someone who has used Jiffy.ai, you won't be able to find it. So, when we onboard a new person, we want them to learn this new system, but it is a bit hard for them to pick up because there are no external learning materials on the Internet.""The solution has just not closed the gap of being accessible to non-IT users. If you are a non-IT person, then this all looks like gobbledygook. Maybe that is something that can be improved upon."

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"Mapping the process steps to an existing R2R process quickly would be a definite step forward.""would like to see AI integration for automation in future releases. Post-automation, I envision a generative AI model. If I could ask the bot questions like the number of invoices or their current status, it should be able to provide answers directly.""The room for balancing improvement lies in automation enhancement with respect to the feature areas, considering dealing directly with Excel and reviewing it to do some additional stuff for it in the end system so that reading the right thing, picking up the values, and everything."

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Pricing and Cost Advice
  • "The pricing and license make sense. They have a model based on the concurrency of the workforce, which is very suitable in our case. The savings are great on the licensing cost."
  • "The licensing is not expensive; it is quite cheap. The expensive part is to support and maintain it. Understandably, we engage them to do a lot of work that could have been done by our own staff, if we had an RPA team. I wouldn't hold that against them. It is just that the cost of support is on the higher side for us."
  • "I like that it is very cost-efficient."
  • "If cost is of concern, then start with Jiffy. If cost is not your main concern there are a few premium products out there, but they come with a huge price tag."
  • "The pricing is quite competitive. As a small player in the market, they are quite aggressive in their pricing. With the features that they offer, it is quite worth the value."
  • "Its license is yearly. There are no additional costs to the standard fee. It is a standard license."
  • "The solution's price is reasonable."
  • More Jiffy.ai Automate Pricing and Cost Advice →

  • "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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    Questions from the Community
    Top Answer:Its initial setup process was quite efficient.
    Top Answer:The solution's price is reasonable in terms of its performance. The licensing costs approximately $10,000 per year. There are no additional costs involved.
    Top Answer:The solution's support services need improvement.
    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 »
    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 »
    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 »
    Ranking
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    Average Words per Review
    385
    Rating
    8.0
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    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
    JIFFY.ai
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    Overview
    Founded with the mission to radically change how enterprises automate complex business processes, JIFFY.ai puts the power of real-time innovation in business users’ hands. JIFFY.ai delivers an app-based, cognitive automation platform that includes capabilities ranging from intelligent document processing, natural language processing capabilities, RPA and Low Code/No Code development.

    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
    Southwest Airlines
    ArcelorMittal, Alliant Energy, Allianz, Arla, Bacardi, CPS Energy, DSM, Faurecia, Genetech, Jabil, Jumbo,
    Top Industries
    REVIEWERS
    Transportation Company43%
    International Affairs Institute29%
    Computer Software Company14%
    Aerospace/Defense Firm14%
    VISITORS READING REVIEWS
    Financial Services Firm22%
    Computer Software Company12%
    Healthcare Company8%
    Transportation Company8%
    VISITORS READING REVIEWS
    Financial Services Firm18%
    Energy/Utilities Company15%
    Computer Software Company9%
    Manufacturing Company5%
    Company Size
    REVIEWERS
    Small Business25%
    Midsize Enterprise13%
    Large Enterprise63%
    VISITORS READING REVIEWS
    Small Business17%
    Midsize Enterprise16%
    Large Enterprise67%
    VISITORS READING REVIEWS
    Small Business19%
    Midsize Enterprise7%
    Large Enterprise74%
    Buyer's Guide
    Robotic Process Automation (RPA)
    April 2024
    Find out what your peers are saying about UiPath, Microsoft, Automation Anywhere and others in Robotic Process Automation (RPA). Updated: April 2024.
    769,599 professionals have used our research since 2012.

    Jiffy.ai Automate is ranked 24th in Robotic Process Automation (RPA) with 8 reviews while Redwood Software - Finance Automation Edition is ranked 19th in Robotic Process Automation (RPA) with 3 reviews. Jiffy.ai Automate is rated 8.2, while Redwood Software - Finance Automation Edition is rated 9.0. The top reviewer of Jiffy.ai Automate writes "The willingness to partner with us and understand our needs was key, as are the time and cost savings from automation". On the other hand, the top reviewer of Redwood Software - Finance Automation Edition writes "User-friendly and enables automation in finance, HR, and SDM". Jiffy.ai Automate is most compared with Microsoft Power Automate, Kryon RPA, UiPath and Automation Anywhere (AA), whereas Redwood Software - Finance Automation Edition is most compared with UiPath, BlackLine, Blue Prism and Blue Prism Cloud.

    See our list of best Robotic Process Automation (RPA) vendors.

    We monitor all Robotic Process Automation (RPA) 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.