We performed a comparison between Redwood Software - Finance Automation Edition and Workiva Wdesk based on real PeerSpot user reviews.
Find out in this report how the two Financial Close Software solutions compare in terms of features, pricing, service and support, easy of deployment, and ROI."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."
"It makes the compliance process more efficient and more effective."
"It helps you to maintain a backup of your data, including the connectivity with the tables, which provides a user-friendly way to handle and access your files."
"The collaboration within the platform is valuable."
"Workiva Wdesk is pretty good in terms of getting the data from the system, automating the reporting schedules...It has a very good integration with ERP tools."
"Workiva Wdesk has a flow diagram that is standardized, making it easy for people to file documents on ECDAs, which are in HTML format."
"The most valuable feature is its ability to easily upload and update financial results, creating a dynamic data sheet."
"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."
"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."
"With this product, it's more about the integrated data model where you can have a one-to-many/many-to-one relationship between your policies and processes, risks, and controls. They need to showcase how you can put those pieces together."
"The most critical issue is the need to shift between uppercase and lowercase."
"The speed must be improved."
"One area where Workiva Wdesk could improve is by ensuring that its cloud-based system is fully compatible with the most current versions of PowerPoint and Excel."
"At this point, I don't see a compelling reason to invest in Workiva. It may be necessary for compliance and controlling the version of SCC, but not everyone needs its high-end capabilities."
"Regarding the solution, reporting has certain areas that can be considered for improvement."
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Redwood Software - Finance Automation Edition is ranked 8th in Financial Close Software with 3 reviews while Workiva Wdesk is ranked 2nd in Financial Close Software with 6 reviews. Redwood Software - Finance Automation Edition is rated 9.0, while Workiva Wdesk is rated 7.0. 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 Workiva Wdesk writes "A user-friendly tool useful for data consolidation and automating the reporting schedules". Redwood Software - Finance Automation Edition is most compared with UiPath, BlackLine, Blue Prism, Blue Prism Cloud and Automation Anywhere (AA), whereas Workiva Wdesk is most compared with AuditBoard, Oracle Hyperion, RSA Archer, OneTrust GRC and ACL Analytics. See our Redwood Software - Finance Automation Edition vs. Workiva Wdesk report.
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