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IBM Datacap 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

IBM Datacap
Average Rating
7.6
Reviews Sentiment
6.9
Number of Reviews
28
Ranking in other categories
Intelligent Document Processing (IDP) (6th)
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

Bhasker ReddyPIdintla - PeerSpot reviewer
Technical Delivery Head at a tech vendor with 10,001+ employees
Has improved document scanning accuracy with advanced OCR capabilities
IBM needs to improve on scanning and reading accuracy for unstructured documents. Additionally, an important missing feature is the ability to merge documents and present data across different UI screens. This is especially beneficial for customer onboarding where documents are scanned not all at once but periodically. Incorporating automation could also aid in this area.
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

"It helps companies figure out how to use advanced imaging techniques, processes, best practices, and other tools."
"Very scalable and stable data capture and extraction solution that's very simple to install."
"I work for an insurance company, and we use Datacap for document processing."
"The big thing these days is really the Insight Edition component and being able to build annotators to extract from literally unstructured content: paragraphs and information where there's no start anchor point to define where that data is located. There could be a number of entities in that which you have to draw information from. Being able to extract from them is really the differentiator today between that product and many of the other products..."
"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."
"It's resiliency. There are multiple ways of identifying what you are looking for. There are multiple export formats."
"One of the valuable features of Datacap is the user experience. One thing that IBM did a few years ago was they standardized all of their ECM products on Content Navigator, including Datacap. If you're an IBM ECM customer you have FileNet, you have Datacap, you have StoredIQ and you have a consistent user experience, user interface."
"While we are doing indexing, we tag the document type. It's programmed inside of Datacap to automatically detect the document based on a given template. It auto-indexes that document, which means that it automatically tags the correct document type to the scanned document."
"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."
"So the best thing is ease of use."
 

Cons

"When I scan a document in Datacap that has a watermark or the document is a little distorted, the image output is poor. It either becomes completely black, or there is so much distortion that we cannot read the numbers or the addresses mentioned in the POD. When we scan a document, we expect the output to be at least 95 percent accurate."
"Recognition between certain numbers and letters could be improved. Sometimes this solution misreads five with an "S" for Singapore."
"Reporting and analytics seem to often be something of an afterthought. With Datacap, they've started building out some dashboards, but one thing we hear from our clients a lot is, "Well, gee, we really love reports. What Datacap has is not really helpful. We'd like something better. We'd like more dashboards." That's one area where we've seen some feedback that the product could do better."
"There are times when external features impact services. For example, Windows patching or antivirus updates can affect production-level services."
"I would like to see integration of Watson AI technology into Datacap."
"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."
"We have page requirements where some values must be copied on each page. For example, say I need to scan a bunch of documents, and the name will be a field on every page. We don't have a default functionality in Datacap to copy the field value on the first page to all the pages. That feature would make the documents easy to prepare."
"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."
"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."
"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."
 

Pricing and Cost Advice

"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."
"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 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."
"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."
"This solution is the most expensive in the market."
"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."
"In Egypt, we have exchange rates that change year to year, and currently, we're facing an increase in the exchange rate between our Egyptian pound and the dollar. Since we have been using IBM DataCap two years ago we had a good price, it was not expensive. However, I cannot say now if it is expensive or not because of the exchange rate. Additionally, I don't have the data of other competitors and I don't know the prices."
"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
18%
Manufacturing Company
11%
Government
8%
Insurance Company
7%
Manufacturing Company
20%
Performing Arts
13%
Financial Services Firm
7%
University
7%
 

Company Size

By reviewers
Large Enterprise
Midsize Enterprise
Small Business
By reviewers
Company SizeCount
Small Business12
Midsize Enterprise4
Large Enterprise12
No data available
 

Questions from the Community

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 feature is the ability to merge documents and present data across different UI s...
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. Specifically, it's used for DocuSign ( /products/docusign-reviews ) as well.
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

Datacap
Redwood Business Process Automation - Finance Edition, Redwood Robotics, Redwood Finance Automation
 

Overview

 

Sample Customers

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: December 2025.
881,114 professionals have used our research since 2012.