Kryon RPA vs Redwood Software - Finance Automation Edition comparison

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Comparison Buyer's Guide
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).
767,667 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
"Once I decide a process is suitable as a Kryon solution, the cycle of automation is quite quick. I learn about the manual process and I'm one of the two guys who program the Kryon environment. It's relatively simple. There are many details, but once you understand the concept it is quite easy.""The recording capability is valuable because of the amount of data it captures automatically. It's quite good. It means less development, and fewer configuration settings to fill in after you're done.""Attended automation has diverted 34 percent of training calls to our tech support centers.""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.""Kryon will allow you to automate processes fast and easy and you do not need to be a developer to automate processes.""We took a very complex business area, and every activity in it which can be done automatically is being replaced by the robot instead of people working on it.""The advanced Excel functionalities are really convenient because we work a lot with spreadsheets. It’s also easy to use the HTML selectors. It’s just a click and it picks it up. There’s not a lot of no hard-coding with it.""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."

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"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.""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."

More Redwood Software - Finance Automation Edition Pros →

Cons
"Kryon RPA's integration with other solutions could be more seamless.""I would expect that in the first year there is no ROI. It has to be measured over three or five years.""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 use Google Drive a lot. If somebody sends us a spreadsheet or a document, it's going to be in Google’s format. It's not going to be in Microsoft Office format. But currently, there's no integration with Google’s documents. That would be a huge plus to have.""Extracting meaningful data requires significant effort. You need a dedicated business analyst who can understand the output.""The process discovery tool of Kryon RPA could be improved because of its limitations.""When a project is very big, a lot of memory is taken up. Then, machines don't have enough memory. This could be improved upon to be more efficient.""Often, it's difficult to loop through a large data set unless the bot has access to the Excel file with specific settings and shortcodes."

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"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."

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 task mining aspect has been the most valuable for us. That's why we actually bought it.
    Top Answer:It is very cheap. I would rate the pricing a three out of ten, with ten being expensive. You just have to pay for your own people to analyze the output from the tool.
    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
    3,151
    Comparisons
    1,377
    Reviews
    7
    Average Words per Review
    615
    Rating
    7.9
    Views
    486
    Comparisons
    322
    Reviews
    2
    Average Words per Review
    1,150
    Rating
    8.5
    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 Company14%
    Manufacturing Company9%
    Comms Service Provider8%
    VISITORS READING REVIEWS
    Financial Services Firm17%
    Energy/Utilities Company16%
    Computer Software Company9%
    Manufacturing Company5%
    Company Size
    REVIEWERS
    Small Business11%
    Midsize Enterprise25%
    Large Enterprise64%
    VISITORS READING REVIEWS
    Small Business14%
    Midsize Enterprise12%
    Large Enterprise73%
    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.
    767,667 professionals have used our research since 2012.

    Kryon RPA is ranked 13th in Robotic Process Automation (RPA) with 26 reviews while Redwood Software - Finance Automation Edition is ranked 19th 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, Nintex RPA and Automation Anywhere (AA), 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.