Redwood Finance Automation Overview

Redwood Finance Automation is the #2 ranked solution in our list of top Financial Close Software. It is most often compared to Blue Prism: Redwood Finance Automation vs Blue Prism

What is Redwood Finance Automation?

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.

Redwood Finance Automation is also known as Redwood Robotics .

Redwood Finance Automation Buyer's Guide

Download the Redwood Finance Automation Buyer's Guide including reviews and more. Updated: February 2021

Redwood Finance Automation Customers

ArcelorMittal, Alliant Energy, Allianz, Arla, Bacardi, CPS Energy, DSM, Faurecia, Genetech, Jabil, Jumbo,

Redwood Finance Automation Video

Pricing Advice

What users are saying about Redwood Finance Automation pricing:
  • "The licensing was purely based on the number of transactions being processed in production."

Redwood Finance Automation Reviews

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Ram Chenna
Enterprise Architect and CTO at Blueray Consulting
Real User
Top 5Leaderboard
Jan 8, 2021
Out-of-the-box modules help to save time in development and reduce human error

What is our primary use case?

The primary use case is to start with all Record to Report Processes within our FSSU, automating critical processes. This solution processes Record to Report (R2R), Order to Cash (O2C), and Procure to Pay (P2P) tasks. We started with engaging with Redwood right from Proof of Concept, Product Selection, Training, and Pilot Implementation. Redwood did an excellent job. Unlike other automation tools, Redwood has a unique space in finance automation, where standard SAP modules are used for automating every step in the process, quickly and easily. Right from identifying processes based on certain… more »

Pros and Cons

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

What other advice do I have?

I think this product is the right fit for finance processes that are very standard but definitely, a proper licensing model will go a long way for the adoption of Redwood for SME, and large enterprises as well.