Compare Prophix vs. Redwood Finance Automation

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Pricing and Cost Advice
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"The licensing was purely based on the number of transactions being processed in production."

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Top Answer: 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.
Top Answer: To an extent, there is a definite cost involved in terms of setting up the right infrastructure and the licensing model. This needs a good discussion on the licensing and pricing model, which can be… more »
Top Answer: This is a tricky question, but certainly, some improvements are definitely needed in the template-based approach and modularity of design. Mapping the process steps to an existing R2R process quickly… more »
Ranking
9th
Views
587
Comparisons
346
Reviews
0
Average Words per Review
0
Rating
N/A
2nd
Views
1,074
Comparisons
849
Reviews
1
Average Words per Review
1,116
Rating
10.0
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Also Known As
Redwood Robotics
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Overview

Prophix Software is a leading developer of solutions designed to automate financial processes including budgeting, planning, reporting, analysis, and performance management for the mid-market. Thousands of finance leaders around the world use Prophix to empower their organization and gain greater insight into business performance. Prophix and its partners deliver the best value by combining high end functionality, low total cost of ownership, and the fastest implementations in its class.

Redwood Software was founded in 1993 with a singular goal – to free people from the effort associated with unnecessary manual activity. Redwood delivers automation solutions worldwide for workload and scheduling, finance, and report distribution. Its technology is built on modern, adaptable architecture that is uniquely designed to be delivered as-a-service for maximum benefit and scalability.

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 solutions are built on our industrial scale automation technology to provide business users the power to design, deploy and operate transformational financial processes. Redwood Finance Automation improves efficiency and governance. It also frees finance professionals to focus on gaining valuable insights from corporate reporting information—rather than simply chasing data.

These solutions are built to support four pillars of finance processes: record to report, order to cash, procure to pay and asset accounting. Within record to report, we offer automated solutions for the close checklist, reconciliation, journal entry and intercompany. Clients report automating as much as 85% of finance tasks that once relied on repetitive manual work with Redwood.

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Sample Customers
Solarcentury, Swan Mill Paper Company, Interstates Companies, First Medical Health Plan, Community Physician Network, AAA Southern New England
ArcelorMittal, Alliant Energy, Allianz, Arla, Bacardi, CPS Energy, DSM, Faurecia, Genetech, Jabil, Jumbo,
Top Industries
No Data Available
VISITORS READING REVIEWS
Computer Software Company44%
Comms Service Provider17%
Energy/Utilities Company12%
Wholesaler/Distributor5%
Company Size
REVIEWERS
Small Business30%
Midsize Enterprise30%
Large Enterprise40%
No Data Available

Prophix is ranked 9th in Financial Close Software while Redwood Finance Automation is ranked 2nd in Financial Close Software with 1 review. Prophix is rated 0.0, while Redwood Finance Automation is rated 10.0. On the other hand, the top reviewer of Redwood Finance Automation writes "Out-of-the-box modules help to save time in development and reduce human error". Prophix is most compared with Planful, Adaptive Insights, IBM Cognos, Solver BI360 and OneStream XF, whereas Redwood Finance Automation is most compared with UiPath, BlackLine, Blue Prism, Automation Anywhere (AA) and SAP Contextor.

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