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Ephesoft Transact vs Redwood Software - Finance Automation Edition comparison

 

Comparison Buyer's Guide

Executive Summary

Review summaries and opinions

We asked business professionals to review the solutions they use. Here are some excerpts of what they said:
 

Categories and Ranking

Ephesoft Transact
Average Rating
7.6
Reviews Sentiment
5.9
Number of Reviews
3
Ranking in other categories
Intelligent Document Processing (IDP) (15th)
Redwood Software - Finance ...
Average Rating
9.0
Reviews Sentiment
7.5
Number of Reviews
3
Ranking in other categories
Robotic Process Automation (RPA) (13th), Financial Close Software (10th)
 

Featured Reviews

reviewer2155206 - PeerSpot reviewer
Software Development Consultant at a hospitality company with 1-10 employees
Average solution with good workflow but needs to improve machine learning
The configuration can be a bit much. The AML engine part could be better. It's not easy to train. It's not so easy to train the system. If it's not trained, the accuracy will be off. They need to improve data quality. They need to start from scratch with the AML. They need to add on the document processing tool. It's getting there; it just need to be expanded. I haven't used the reporting too much. However, it would be helpful to have it more robust. The solution does require a lot of RAM.
RC
Enterprise Architect at a consultancy with 10,001+ employees
Single bot now replaces five associates who previously handled finance processes and eliminates manual errors
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, I would like to leverage a generative AI model. This would allow me to type a query or question directly to the bot, and it would retrieve the information I need. For example, I could ask for the number of invoices, the status of specific invoices, or any other relevant data. Currently, we achieve this by building our own Finance model. So, integrating a pre-built finance model with the tool would be much easier and more efficient for reporting purposes. We're looking at several potential uses for this AI model. It could empower various user groups, including regular finance executives, customers, and even vendors to submit queries. Additionally, our leadership team is interested in using the AI model to generate reports directly on the Redwood dashboard. This functionality could potentially replace the need for BSpoke Solutions and the manual generation of BSpoke reports, streamlining the entire reporting process.

Quotes from Members

We asked business professionals to review the solutions they use. Here are some excerpts of what they said:
 

Pros

"Transact's best feature is its ease of customization."
"I have found the keyword extraction to be helpful."
"I like the inject feature. With desktop injects, we're doing all these things and extracting these things. Its stable, scalable, and technical support is good."
"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."
 

Cons

"Their email service and extraction could be better. We get the input via email, and these emails contain different types of documents like Excel, PDF, or they may contain different content in the email body. Due to this variation, sometimes the email service crashes, and emails aren't redirected to Ephesoft Transact. Ephesoft has provided us with new hotfixes. Whatever flaws we found in the 2019.2 version, they have already updated it in the new version, 20.1.05, and it's already released. Drawbacks like not capturing the handwritten fields are now sorted."
"Transact could be improved by removing Java and making its pricing more accessible for smaller customers."
"It's not easy to train."
"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."
"Mapping the process steps to an existing R2R process quickly would be a definite step forward."
"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."
 

Pricing and Cost Advice

"Initially, when I got a licensed copy of Ephesoft Transact, it was for one year. After one year, we had to send an email to the Ephesoft team informing them that our license was going to expire. They updated it and provided one license in our file, and we had to update and install the folder. They have versions for one year and lifelong as well."
"Transact's pricing could be better for smaller customers."
"The licensing was purely based on the number of transactions being processed in production."
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Top Industries

By visitors reading reviews
Financial Services Firm
20%
Government
12%
Insurance Company
10%
Performing Arts
10%
Manufacturing Company
20%
Performing Arts
13%
Financial Services Firm
7%
University
7%
 

Company Size

By reviewers
Large Enterprise
Midsize Enterprise
Small Business
No data available
No data available
 

Questions from the Community

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What do you like most about Redwood Business Process Automation - Finance Edition?
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 r...
What is your experience regarding pricing and costs for Redwood Business Process Automation - Finance Edition?
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 c...
What needs improvement with Redwood Business Process Automation - Finance Edition?
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 postin...
 

Also Known As

No data available
Redwood Business Process Automation - Finance Edition, Redwood Robotics, Redwood Finance Automation
 

Overview

 

Sample Customers

Honda Logistics, Washington State Health Care Authority
ArcelorMittal, Alliant Energy, Allianz, Arla, Bacardi, CPS Energy, DSM, Faurecia, Genetech, Jabil, Jumbo,
Find out what your peers are saying about Ephesoft Transact vs. Redwood Software - Finance Automation Edition and other solutions. Updated: December 2025.
881,114 professionals have used our research since 2012.