No more typing reviews! Try our Samantha, our new voice AI agent.

IBM Datacap vs Redwood Software - Finance Automation Edition comparison

Sponsored
 

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

Automation Anywhere
Sponsored
Average Rating
8.4
Reviews Sentiment
6.9
Number of Reviews
660
Ranking in other categories
Business Process Management (BPM) (2nd), Robotic Process Automation (RPA) (2nd), Process Mining (1st), Intelligent Document Processing (IDP) (1st), Agentic Automation (1st), Business Orchestration and Automation Technologies (2nd), AI Legal & Compliance (1st), AI Finance & Accounting (1st), AI Procurement & Supply Chain (1st)
IBM Datacap
Average Rating
7.6
Reviews Sentiment
6.9
Number of Reviews
28
Ranking in other categories
Intelligent Document Processing (IDP) (7th)
Redwood Software - Finance ...
Average Rating
9.0
Reviews Sentiment
7.5
Number of Reviews
3
Ranking in other categories
Robotic Process Automation (RPA) (28th), Financial Close Software (17th)
 

Featured Reviews

Venkat Sivaprakash - PeerSpot reviewer
Management Consultant at Accenture
Has significantly improved document-driven workflows and reduced processing time across finance and HR functions
Automation Anywhere has evolved significantly and upgraded itself to provide agentic AI and AI-based automation solutions for document automation. The product has matured considerably over time. We can create workflows that can call an API. We can include prompts in particular workflows for ChatGPT-related functions, connecting to an LLM and RAG to perform tasks. For document automation, modern features are available to train documents, ensuring high accuracy and repeatability over time. The system is very easy to use. I recently completed a course in document automation, typically designed for people involved in coding and technical aspects. Though I understand coding comprehensively, I don't do actual coding. The course was very accessible. Currently, extensive coding isn't necessary due to the hybrid model incorporating GenAI aspects, low-code, no-code capabilities, APIs, and numerous pre-built objects in Automation Anywhere. The features include GenAI-driven prompting methods and workflow creation capabilities. In these workflows, we can create decision boxes and call APIs without coding. We simply pull objects, drop them, connect them, and add minimal coding when needed. The most crucial aspect isn't coding but rather sizing the automation and fleshing out the details. Automation Co-pilot takes notes and performs automated analysis. It can extract details from videos, summarize conversations, and provide detailed information. During calls, it identifies instructions and performs tasks such as preparing reports and reconciliation. Automation Anywhere can also connect with Microsoft Co-pilot. Through Co-pilot, real-time operations can be executed, allowing direct interaction between vendors and automation through this component.
DeekshithShetty - PeerSpot reviewer
Software Development Senior Specialist at a tech vendor with 10,001+ employees
High-accuracy document processing with easy integration and good image enhancement
The OCR extractions are very good, almost 100% accurate now. The integration with other tools is very easy, with inbuilt actions to configure and directly export to multiple depositories. It is also good at image enhancement, including the removal of lines, which is helpful in processing and automation and ensures very little user intervention, thus saving time.
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

"We can integration with other APIs, which is a good thing. This helps us with our database integration. For example, we have done an SAP integration, which is great, since SAP has a lot of manual work."
"The code, once developed, is pretty stable."
"They have a credential vault, which is 256-bit encrypted. That is the highest security that can be provided when it comes to credential maintenance. With a credential vault, other than the user who is entering the password, no one else knows what the password is."
"The most valuable feature of Automation Anywhere is the unattended mode bots, because we don't need to go and look at what they're doing. They just go by themselves."
"By using this solution for RPA, we can automate a lot of business processes, which helps achieve less time to market."
"Automation Anywhere has a Bot Store. E.g., you can download the bot from the Bot Store and utilize it's data extraction capabilities. You can extract unstructured data through IQ Bot. Getting unstructured data is not difficult. I once obtained an 84 page PDF file using an IQ Bot. This was just the trial version, and it was really good. I was able to get all the circuit IDs and properties that wanted in a simple CSV format. I had not seen anything like this before. When compared to other platforms, such as UiPath, they don't have these capabilities right now. They have activities like PDF extraction, but that's not good enough."
"It is easy to learn and easy to deploy. That is the best part compared to the other RPA solutions available in the market. Automation Anywhere is easier than UiPath and Blue Prism."
"The MetaBots are by far the most effective system within AA. Due to the fact that no scripting is required and only the passing of variables or values to get a definite result. IQ Bot with the ABBY OCR is a powerful component to do multiple extractions in the shortest possible timeframe in comparison to human execution of similarly identified tasks or operations."
"An example: In the state of Connecticut, we implemented a solution which was forms based, but inspired by IBM technology, and we were able to eliminate a process which normally took 60 days and cut it down to six hours."
"I like Datacap's integration with FileNet because financial companies use that export. The second part is web services integration, which is effortless to implement."
"It reduces human error and saves time."
"The OCR extractions are very good, almost 100% accurate now."
"It's a stable product; we've seen other capture products on the market and our view of Datacap is that it's best-of-breed."
"It's resiliency, with multiple ways of identifying what you are looking for and multiple export formats, and it's a platform, not a configured application, so you can do what you want with it."
"It is highly extensible, which we found to be most valuable. It is a very extensible solution because it is based on configurable rule sets. We were able to amend and adjust the solution and very easily add custom code and custom components. It does require some programming experience, but we found that not to be an issue. We liked its extensibility."
"The standout feature of this intelligent product is its remarkable capability."
"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."
"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."
"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

"It would be great if video analytics could be brought in as a third-party product integration or on the Automation Anywhere platform. I would like the video analytics to be integrated within the next two years. Right now, most people are using third-party tools. Video can be translated into an image and information can be picked up from that, then translated into meaningful insights to make decisions."
"I would like to have the MetaBot screen name title dynamic instead of static."
"We have had so many stability issues."
"We've had some technical difficulties connecting, but that's more on our environment and how we have the machines and everything set up. It's not specific to Automation Anywhere. However, it's pricier than some of the other tools."
"While the ease of use for non-tech users is good, it could be improved."
"When I post questions, I seldom get answers fast, and when I do, there are inconsistencies with the existing documentation."
"IQ Bot requires a significant improvement for its data detection and data retention, mainly from the previously trained documents: regarding the document's format, layout, data contained within the document, the type of data that needs to be extracted."
"Our current version needs drag and drop, but that should be in the next release."
"There are times when external features impact services. For example, Windows patching or antivirus updates can affect production-level services."
"Speed of OCR is one issue. It's a challenge because we have customers that have millions and millions of pages that they want this solution to crank through. In order to do that you have to have a large infrastructure in place, and that directly impacts licensing based on the core count."
"They have to stop focusing on new development and stabilize the latest release. It is not stable."
"Datacap has performance issues when processing large volumes of documents. We're doing 18,000 pages daily. Scanning takes almost 20-30 minutes, but it normally takes one or two minutes. We informed IBM and opened a ticket for that. They forwarded the issue to developers but didn't give a specific timeline for it to be resolved. Version 8.1 is already at the end of support."
"Recognition between certain numbers and letters could be improved. Sometimes this solution misreads five with an "S" for Singapore."
"Datacap is not that difficult to set up, however, there are some limitations. For example, it's supposed to only be used with Windows, it will not support a Linux platform and has been built on top of .Net technologies."
"Its weaknesses are primarily tied to the lack of available resources and expertise in the market to effectively support and provide solutions and services to each customer for seamless implementation. Expertise in this specific product is rare throughout the market. One key reason is the product's limited downloads. Additionally, archiving solutions are often perceived as complex and challenging, dissuading many companies from venturing into this domain. Consequently, partners who specialize in archiving solutions are always seeking straightforward, uncomplicated options that are easy to manage and meet customer expectations."
"I would like to see integration of Watson AI technology into Datacap."
"This is where the real challenge is, having a licensing cost that needs to be compared with the existing manual operational cost and coming up with a competitive licensing and pricing model."
"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."
"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."
 

Pricing and Cost Advice

"The pricing model can be a bit more flexible."
"They're very flexible around pricing and licensing."
"They are already coming out with a community license, which is really good. That's something that I wish to have."
"We have reduced our headcount, approximately 200 to 300 employees, by eliminating manual, repetitive work. It provides profit to the business."
"It's justified because we have saved quite a bit of money at the company and many manual hours. Overall, it justifies the cost."
"Automation Anywhere is thought to be quite expensive, especially for smaller organizations."
"It depends. For example, for my group, we are centralizing the infrastructure in Paris. Our contract is signed with Automation Anywhere in France. The currency and the pricing of Automation Anywhere in France can appear beneficial and interesting for Germany and Scandinavian countries, but when we share our infra and are internally charging other countries such as Poland, Brazil, or some other country with a lower currency value as compared to Euro, it becomes less beneficial. They would prefer to sign the contract directly with Automation Anywhere because they will benefit from a price that is as per their local market."
"AA comes at a more affordable price than the other tools."
"This solution is the most expensive in the market."
"If you want IBM Datacap on cloud, which is a service run by IBM, the price can be quite expensive, but if you want to just purchase the licenses and own those yourself, then the price is very competitive."
"You save a lot of time and money, but the benefit is you have people who are able to run the systems, check to see if there are any errors at all, and there are a lot less errors than a human system."
"This solution offers seamless integration with other enterprise products, which is my area of responsibility, focusing on government sector projects. Larger enterprise projects don't pose problems. It might be suitable for small businesses as well."
"Pricing needs to stay competitive."
"IBM could offer more competitive pricing. This would allow them to attain more users. Some of our clients are considering moving to a different solution called Encapture which is similar but offers more competitive pricing."
"Pricing depends on how much we use it. We pay per bulk quantity. We pay as you go. Therefore, it sort of depends on our usage of it."
"It varies, and it depends on the client's requirements and negotiations. Nowadays, Datacap is also included in the IBM Cloud Pak for Business Automation."
"The licensing was purely based on the number of transactions being processed in production."
report
Use our free recommendation engine to learn which Robotic Process Automation (RPA) solutions are best for your needs.
909,725 professionals have used our research since 2012.
 

Top Industries

By visitors reading reviews
Financial Services Firm
14%
Manufacturing Company
11%
Construction Company
11%
Outsourcing Company
11%
Financial Services Firm
15%
Manufacturing Company
9%
Government
9%
Outsourcing Company
7%
Manufacturing Company
15%
Construction Company
11%
Outsourcing Company
10%
Performing Arts
8%
 

Company Size

By reviewers
Large Enterprise
Midsize Enterprise
Small Business
By reviewers
Company SizeCount
Small Business157
Midsize Enterprise82
Large Enterprise558
By reviewers
Company SizeCount
Small Business13
Midsize Enterprise4
Large Enterprise12
No data available
 

Questions from the Community

How good is Automation Anywhere for RPA processes?
It depends on your use case. Is it simply to automate a couple of processes? Is it to augment a human team? AA is ver...
How good is Automation Anywhere for RPA processes?
From my experience using AA tool, it depends on the applications that you want to automate, because there some applic...
How good is Automation Anywhere for RPA processes?
It is a highly preferred RPA tool. You can check my Automation Anywhere Review to know more.
What is your experience regarding pricing and costs for IBM Datacap?
Pricing is in the mid-range but could be more affordable, rated at four point five.
What needs improvement with IBM Datacap?
IBM needs to improve on scanning and reading accuracy for unstructured documents. Additionally, an important missing ...
What is your primary use case for IBM Datacap?
I primarily use IBM Datacap ( /products/ibm-datacap-reviews ) for data capture and scanning documents with OCR. Speci...
Ask a question
Earn 20 points
 

Also Known As

Automation Anywhere, Testing Anywhere, Automation Anywhere Enterprise, Agentic Process Automation System (Now Certified for WorkSpaces)
Datacap
Redwood Business Process Automation - Finance Edition, Redwood Robotics, Redwood Finance Automation
 

Interactive Demo

Demo not available
Demo not available
 

Overview

 

Sample Customers

Google, Linkedin, Cisco, Juniper Networks, DellEMC, Comcast, Mastercard, Quest Diagnostics
Turkcell, PowerSouth Energy Cooperative, Central Nacional Unimed, Conqord Oil
ArcelorMittal, Alliant Energy, Allianz, Arla, Bacardi, CPS Energy, DSM, Faurecia, Genetech, Jabil, Jumbo,
Find out what your peers are saying about IBM Datacap vs. Redwood Software - Finance Automation Edition and other solutions. Updated: August 2026.
909,725 professionals have used our research since 2012.