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Redwood Finance Automation

Score9 out of 10

4 Reviews and Ratings

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What is Redwood Finance Automation?

Redwood Software headquartered in the Netherlands offers Redwood Robotics, a robotic process automation solution.

Categories & Use Cases

Media

Home page for the Redwood Software Finance Automation solution.
View of the Journal Entry Summary page in the Redwood Software Finance Automation solution.
Intercompany Agreement Process built in Redwood Software Finance Automation solution.
A view of the Inbox for Redwood Software Finance Automation.
A view of the Process Orchestrator within the Redwood Software Finance Automation solution.

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Reviews

What users are saying about Redwood Finance Automation.
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My experience with Redwood Finance Automation

Verified User
Administrator in Finance and Accounting (10,001+ employees employees)

Pros

  • Easy to design without IT knowledge
  • We can transform the data like excel
  • This can read the data from any system and transform

Cons

  • Business users are not able to understand the errors without IT knowledge
  • Better to have more features in data transformer (like Excel Pivot)
  • Train all types of users on basic REL expression language to use in development

Most Important Features

  • Easy to develop the robots with basic IT knowledge
  • Data transformation is huge development to transform the data in to several reports
  • Predefined definitions help developers to create new robots

Return on Investment

  • We have removed the robot from user in terms of people transformation
  • Time saving especially at month end to review the financials
  • We have identified more improvement opportunities with RFA as per the available features

Other Software Used

Microsoft 365 (formerly Office 365), BlackLine, Workday Cloud Platform

Redwood - Robots are here to remain as a family member in our company

Incentivized
Verified User
Manager in Finance and Accounting (5001-10,000 employees employees)

Pros

  • It helps through processes standarization
  • Implementation of SOX controls
  • Takes over more repetitive and time-consuming activities to focus on added value ones

Cons

  • Tool in continuous development
  • It requires training and experience to become a developer

Most Important Features

  • Workflows - acknowledge, approval, supervising
  • Prepare reports with data coming from different sources and transactions
  • Process standardization around different countries

Return on Investment

  • There is a return on investment reducing the time we need to work on reporting and communication.
  • It allows the organization to focus on added value activities.
  • Control and quality of data.

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