Kryon RPA vs Redwood Software - Finance Automation Edition comparison

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Executive Summary

We performed a comparison between Kryon RPA and Redwood Software - Finance Automation Edition 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 Kryon RPA vs. Redwood Software - Finance Automation Edition Report (Updated: March 2024).
765,386 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
"As a business user, it's so easy to use. With the recording of the processes, we didn't need to hire a specific developer... we are able to build most of our processes without having to develop the actual development skillset... the simplicity is the biggest win.""It's very seamless to interact with Excel files and web app pages.""[One of the valuable features] is the triggers. It's relatively simple to activate it. You can activate it via Control-M or via email. It has a lot of built-in triggers which enable us to easily activate the jobs.""We use Kryon Studio to develop new wizards and we use the features to capture elements from the screen and automate processes... The screen capture allows us to interface with systems which don't have an API, or where the API is very expensive, and it allows us to do on-screen integration.""The thing that we find the most value in is the Process Discovery component and the ability to really see what users are doing on a day-to-day basis. We're starting to make sense of the processes that they're doing and getting visibility into what they're doing. Overall, the Process Discovery is very good.""It has been helpful in reducing the manpower and error rate since we are able to run tasks 24/7 without interruptions. As humans definitely take breaks and there may be absenteeism that is unexpected, the solution provides continuous work. Humans tend to make errors once in a while, but the solution has almost zero percent errors.""We have been using Kryon Process Discovery for about a year now. With our initial tests and monitoring just a couple people, we were able to identify 79 possible use cases within a one-month period.""The full-service automation aspects and the process discovery are the most valuable features of Kryon RPA."

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"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.""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."

More Redwood Software - Finance Automation Edition Pros →

Cons
"What needs improvement in Kryon RPA is the support. Sometimes, the solution has problems, so I contacted support, but I didn't receive immediate help from the team. You have to wait a while before the problem gets solved. This happens a few times in terms of getting cases solved. It would also be better if Kryon RPA had a cloud version because currently, from what I know, it only has an on-premise version, though I could be wrong about that. There isn't any additional feature I'd like added to Kryon RPA because it's a good service, but the support is very, very bad, so that area could be improved.""Kryon could be easier to use, especially in comparison to UiPath.""The product requires some more time in development. It still has some bugs and some things to work out. They're constantly releasing. They need to continue working out the general issues of using the product at scale, first and foremost.""There are limitations on integrations with other platforms like ServiceNow. There are some issues integrating. It's not a really an open system. The product, its design, etc., is really good, but they have to look at the openness, how to integrate with other products which are available in the market, as well as with our own solutions. You can do integration but it is not so easy.""At first, we had problems with the object detection but in this latest release it has been better, and I think it keeps getting better.""We need stronger governance to know, when a transaction is done, whether it worked or failed; strong logging. That would be helpful.""It could be more reliable in spying HTML.""Another major drawback is OCR. We are not able to read scanned documents correctly in a reliable way. There is always some margin of error. Some of the processes require us to read scanned documents, and you need to ensure that it is 100 percent accurate. Without that level of assurance, you can't automate such tasks."

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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."

More Redwood Software - Finance Automation Edition Cons →

Pricing and Cost Advice
  • "We have a yearly license. It's about $5,000 per year."
  • "For an unattended robot it's $6000 a month."
  • "In addition to the standard licensing costs, there are manpower costs."
  • "We've more than broken even over on the license. Year to date, we are at $120,000 in savings."
  • "Licensing costs are about $100,000 a year without any additional costs."
  • "We have been able to alleviate two FTEs, which was a big savings for us. We were able to reuse those resources in other locations. It is over 5000 hours a year in total savings."
  • "Can't beat the price... There are different pricing levels for every bot or unattended bot. You can buy however many you want. You'll need an additional virtual machine for it to work on."
  • "We're paying in the neighborhood of about $66,000 a year. The cost is fairly similar to its competitors' costs. It might have been a little bit more reasonable than the others, and that cost was with Process Discovery in addition."
  • More Kryon RPA 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:Hi, currently we are working RPA in an insurance company. One of the processes we're working to automate is auditing the parameters of the policy transactions being proactive not reactive. The other… more »
    Top Answer:The full-service automation aspects and the process discovery are the most valuable features of Kryon RPA.
    Top Answer:Compared to its competitors, Kryon RPA's pricing is very competitive. We've priced Kryon RPA based on the use cases that we're getting and the return on investment. Its list price is one dollar, but… more »
    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
    Views
    3,312
    Comparisons
    1,454
    Reviews
    6
    Average Words per Review
    580
    Rating
    7.8
    Views
    515
    Comparisons
    342
    Reviews
    1
    Average Words per Review
    893
    Rating
    9.0
    Comparisons
    Also Known As
    The Leo Platform
    Redwood Business Process Automation - Finance Edition, Redwood Robotics, Redwood Finance Automation
    Learn More
    Overview

    Kryon RPA is a secure, scalable, and cost-efficient RPA (robotic process automation) solution that combines advanced IMR and OCR capabilities to record and execute processes on any application. The solution aims to provide organizations with quick deployment, reliability, and rapid response to change, and is suitable for companies of all sizes.

    Kryon RPA Features

    Kryon RPA has many valuable key features. Some of the most useful ones include:

    • Credentials vault: Kryon RPA enables you to automate any login process without coding specific credentials into the automation scenario. Each robot can then access the target system with its own dedicated credentials when it is activated.
    • Immutable logs: Kryon RPA secures logs and provides full traceability into activities and robot history, making it easy to audit all mission-critical events and changes. In addition, by securing logs, Kryon RPA ensures that malicious-intended individuals cannot alter or change them.
    • Access controls: With roles and permissions, administrators can assign action-specific permissions to users or groups within the Kryon RPA platform.
    • Multi-tenancy: By implementing Kryon RPA, enterprises can host their RPA solution in the cloud and have the ability to also create separate, secure teams and environments.

    Kryon RPA Benefits

    There are many benefits to implementing Kryon RPA. Some of the biggest advantages the solution offers include:

    • Total visibility: With Kryon RPA, you gain total visibility where it's needed most. The solution provides actionable intelligence for all the processes across your organization that are fit for automation.
    • Designed for business users: Kryon RPA has an intuitive visual interface, enabling users to record tasks quickly and to easily drag and drop process activities, so they do not have to rely on external resources or in-house developers.
    • Simple to use: Kryon RPA is designed to be intuitive. Interactive, and simple so anyone in the organization can easily deploy and manage Kryon robots.

    Reviews from Real Users

    Below are some reviews and helpful feedback written by PeerSpot users currently using the Kryon RPA solution.

    PeerSpot user, Adam S., Manager, Application Support at a consumer goods company, says, “The bot is typically about twice as fast as a person and more accurate, as long as the data going in is good. That is the biggest advantage. I do like the feature if you find an opportunity that it is very simple to export the recording of that process and import it into Kryon Studio as a starting point to build that automation. It's a really good tool for our business process managers because they can take all that information to their constituents in their departments.”

    Another PeerSpot reviewer, a Senior Systems Analyst RPA at a hospitality company, mentions, “We have relied heavily on the the data group base integration features, as well as the email and Exchange integration features. The ability to integrate with Office makes life a lot easier. The ability to integrate with a database is a big perk from a scalability standpoint.”

    Guy B., Head of BI and Process Automation at a financial services firm, comments, “The screen capture allows us to interface with systems which don't have an API, or where the API is very expensive, and it allows us to do on-screen integration. The automation process is very user-friendly and the usability is very good. Developers are very satisfied with the system.”

    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
    HPE
    ArcelorMittal, Alliant Energy, Allianz, Arla, Bacardi, CPS Energy, DSM, Faurecia, Genetech, Jabil, Jumbo,
    Top Industries
    REVIEWERS
    Financial Services Firm45%
    Energy/Utilities Company9%
    Insurance Company9%
    Recruiting/Hr Firm5%
    VISITORS READING REVIEWS
    Financial Services Firm19%
    Computer Software Company15%
    Manufacturing Company9%
    Comms Service Provider8%
    VISITORS READING REVIEWS
    Financial Services Firm18%
    Energy/Utilities Company16%
    Computer Software Company9%
    Manufacturing Company5%
    Company Size
    REVIEWERS
    Small Business11%
    Midsize Enterprise25%
    Large Enterprise64%
    VISITORS READING REVIEWS
    Small Business16%
    Midsize Enterprise12%
    Large Enterprise72%
    VISITORS READING REVIEWS
    Small Business18%
    Midsize Enterprise9%
    Large Enterprise73%
    Buyer's Guide
    Kryon RPA vs. Redwood Software - Finance Automation Edition
    March 2024
    Find out what your peers are saying about Kryon RPA vs. Redwood Software - Finance Automation Edition and other solutions. Updated: March 2024.
    765,386 professionals have used our research since 2012.

    Kryon RPA is ranked 14th in Robotic Process Automation (RPA) with 25 reviews while Redwood Software - Finance Automation Edition is ranked 17th in Robotic Process Automation (RPA) with 3 reviews. Kryon RPA is rated 8.4, while Redwood Software - Finance Automation Edition is rated 9.0. The top reviewer of Kryon RPA writes "The tool helps with speed to market, efficiency, and accuracy". On the other hand, the top reviewer of Redwood Software - Finance Automation Edition writes "User-friendly and enables automation in finance, HR, and SDM". Kryon RPA is most compared with UiPath, Microsoft Power Automate, Blue Prism, Automation Anywhere (AA) and Nintex RPA, whereas Redwood Software - Finance Automation Edition is most compared with UiPath, BlackLine, Blue Prism, Blue Prism Cloud and Automation Anywhere (AA). See our Kryon RPA vs. Redwood Software - Finance Automation Edition 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.