Redwood Software - Finance Automation Edition vs Tungsten RPA comparison

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Comparison Buyer's Guide
Executive Summary

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

Find out in this report how the two Robotic Process Automation (RPA) solutions compare in terms of features, pricing, service and support, easy of deployment, and ROI.
To learn more, read our detailed Redwood Software - Finance Automation Edition vs. Tungsten RPA Report (Updated: March 2024).
767,319 professionals have used our research since 2012.
Featured Review
Quotes From Members
We asked business professionals to review the solutions they use.
Here are some excerpts of what they said:
Pros
"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.""So the best thing is ease of use.""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."

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"The most valuable features are workflow and process automation.""You can automate browsing tasks without needing a server connection. The platform provides its browser, allowing you to run anything inside it.""The flexibility to use already-developed components is really good. You can use it for Excel-related operations and other things.""The solution is scalable.""Provides valuable tools working in integration with RPA tools.""Kofax RPA's best feature is its high success percentage in picking up information from documents, especially where the DPI is really low.""The product provided all the security controls that we asked them.""The best part of Kofax is that they have a whole concept. It's one product, but also has extra elements that can be integrated."

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Cons
"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.""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.""Mapping the process steps to an existing R2R process quickly would be a definite step forward."

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"It needs a free training portal for anybody on the internet to use so that they can get an idea of what the possibilities are.""Kofax RPA could improve web-based automation and there should be a choice of what browser we can use, such as Google Chrome, instead of an inbuilt browser from Kofax RPA. Additionally, Kofax RPA is missing an orchestrator that other solutions have, such as UiPath.""The solution could use some AI integrated features.""We are on version 10.6, and the current version seems to be 11. Kofax is cycling the capabilities of the product very quickly. One of the difficulties has been to actually keep up with the capabilities as they've evolved. On the one hand, it is good that the product is getting better, but on the other hand, it is difficult to implement the best way with a product that is evolving constantly.""Automation with the latest websites is not effective. The support of newer websites developed using new technologies would improve this solution.""The product has some constraints and performance issues.""I would like to see them further enhance the OCR, specifically in the multi-language support.""The technical support must be improved."

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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 →

  • "The normal price for an on-premises license is €50,000. That's the price for one robot license. You can have more than one robot license but only one can be run at any one time. I believe the cost of adding a second robot is around €14,000."
  • "Price is not a problem, because they are a competitor and we have a special rate."
  • "I don't have complete insight at this point in time, but I would guess that Kofax is a lot less expensive than Automation Anywhere. I would expect its license to be on a yearly basis."
  • "Its pricing is reasonable given the product capabilities. Kofax has a wide range of products, and it can sometimes be confusing to understand which capabilities come with which product set. One of the key facets that we've been looking into recently is cognitive document recognition that was a core pile of some of their other technologies such as Kofax transformation modules (KTM)."
  • "Kofax's prices are pretty reasonable."
  • "There is a standard license needed to use Kofax RPA and the price is reasonable."
  • "Kofax RPA is moderately priced but expensive in comparison to UiPath and Power Automate."
  • "I give the price of the solution a six out of ten."
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    Questions from the Community
    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 »
    Top Answer:You can automate browsing tasks without needing a server connection. The platform provides its browser, allowing you to run anything inside it.
    Top Answer:The pricing model for automation solutions like Automation Anywhere, UiPath, and Microsoft Power Platform is subscription-based, where costs are calculated based on factors such as the number of hours… more »
    Top Answer:The product should improve desktop automation, which is hard to configure. It needs to have custom connectors. It is the only advantage that Microsoft Power Platform has over Kofax RPA. It has more… more »
    Ranking
    Views
    486
    Comparisons
    322
    Reviews
    2
    Average Words per Review
    1,150
    Rating
    8.5
    Views
    3,345
    Comparisons
    2,455
    Reviews
    11
    Average Words per Review
    355
    Rating
    7.2
    Comparisons
    Also Known As
    Redwood Business Process Automation - Finance Edition, Redwood Robotics, Redwood Finance Automation
    Kofax RPA, Kofax Kapow, Kapow
    Learn More
    Overview

    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.

    Tungsten RPA offers an efficient solution for streamlining business processes through Robotic Process Automation (RPA), which utilizes software "bots" to automate tasks like data entry and form filling. With Tungsten RPA, organizations can enjoy increased efficiency as repetitive tasks are automated, freeing up human resources for more strategic work. Moreover, the software ensures improved accuracy by performing tasks consistently and error-free, leading to reduced costs and enhanced compliance with regulations. Key features include a low-code design environment for easy workflow creation, intelligent document processing for handling unstructured data, automated process discovery, and flexible deployment options suitable for on-premises, cloud, or hybrid environments. Tungsten RPA presents a comprehensive solution for optimizing operational efficiency and driving business success through automation.
    Sample Customers
    ArcelorMittal, Alliant Energy, Allianz, Arla, Bacardi, CPS Energy, DSM, Faurecia, Genetech, Jabil, Jumbo,
    Aetna, BNP Paribas, Citi, Goldman Sachs, HSBC, ING, Aviva, Humana, Willis, Merck, University Hospitals, CardinalHealth, American Red Cross, Alegri, Capita
    Top Industries
    VISITORS READING REVIEWS
    Financial Services Firm17%
    Energy/Utilities Company16%
    Computer Software Company9%
    Manufacturing Company5%
    REVIEWERS
    Computer Software Company25%
    Financial Services Firm15%
    Energy/Utilities Company15%
    Logistics Company10%
    VISITORS READING REVIEWS
    Computer Software Company13%
    Financial Services Firm13%
    Manufacturing Company8%
    Insurance Company6%
    Company Size
    VISITORS READING REVIEWS
    Small Business18%
    Midsize Enterprise9%
    Large Enterprise73%
    REVIEWERS
    Small Business36%
    Midsize Enterprise4%
    Large Enterprise61%
    VISITORS READING REVIEWS
    Small Business19%
    Midsize Enterprise15%
    Large Enterprise66%
    Buyer's Guide
    Redwood Software - Finance Automation Edition vs. Tungsten RPA
    March 2024
    Find out what your peers are saying about Redwood Software - Finance Automation Edition vs. Tungsten RPA and other solutions. Updated: March 2024.
    767,319 professionals have used our research since 2012.

    Redwood Software - Finance Automation Edition is ranked 19th in Robotic Process Automation (RPA) with 3 reviews while Tungsten RPA is ranked 12th in Robotic Process Automation (RPA) with 24 reviews. Redwood Software - Finance Automation Edition is rated 9.0, while Tungsten RPA is rated 7.4. The top reviewer of Redwood Software - Finance Automation Edition writes "User-friendly and enables automation in finance, HR, and SDM". On the other hand, the top reviewer of Tungsten RPA writes "A stable product that provides end-to-end solutions for different business problems". Redwood Software - Finance Automation Edition is most compared with UiPath, BlackLine, Blue Prism, Blue Prism Cloud and Automation Anywhere (AA), whereas Tungsten RPA is most compared with UiPath, Microsoft Power Automate, Blue Prism, Automation Anywhere (AA) and SAS Data Management. See our Redwood Software - Finance Automation Edition vs. Tungsten RPA report.

    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.