IBM Robotic Process Automation (RPA) vs Redwood Software - Finance Automation Edition comparison

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Executive Summary

We performed a comparison between IBM Robotic Process Automation (RPA) and Redwood Software - Finance Automation Edition based on real PeerSpot user reviews.

Find out in this report how the two Robotic Process Automation (RPA) solutions compare in terms of features, pricing, service and support, easy of deployment, and ROI.
765,234 professionals have used our research since 2012.
Featured Review
Quotes From Members
We asked business professionals to review the solutions they use.
Here are some excerpts of what they said:
Pros
"The solution is scalability.""The solution is very user-friendly.""The quality is great! It's very strong and has a very strong platform.""The initial setup is straightforward.""It is easy to use. We have enabled our resources who don't have a background in automation to be certified and trained, then implement this product within a very short period of time, as it is very user-friendly.""Integrating the tool with SAP, EBS, or other ERPs is easy.""I like the integration with Watson and the possibility to have an intelligent reading of all the customers' documents.""I think simplicity is key. One of the things that we've noticed is how our developers have been able to quickly adopt the platform; but not only the developers or the techy people, also the business."

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"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."

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Cons
"IBM should provide specific solutions for specific problems, like templates for invoicing processes, or general templates for creating efficient processes.""I would like it to do pretty much everything out-of-the-box without any need for any customization. However, that is not the case right now. We absolutely have to do some amount of customization with the solution in order to use it out-of-the-box as-is.""The users should be allowed to create folders in Control Center.""Needs better integration with artificial intelligence or with machine-learning.""The product's document readers must be improved to capture the data well.""The scalability of the solution can be challenging.""Stability could be better.""We are looking to see how it can connect with various interfaces seamlessly, through APIs."

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"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."

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Pricing and Cost Advice
  • "IBM licensing is annual and based on Virtual Processor Cores (VPC). This provides flexibility as part of the containerization environment."
  • "The license is paid annually."
  • "The product has a yearly licensing fee."
  • "The pricing is reasonable for this solution."
  • "I rate the pricing ten out of ten. So, the pricing is very good for me."
  • "The product is reasonably priced compared to other tools."
  • "There is a free trial for one month, so you can use it to run your payloads or proof of concept. After that, you can pay for the license on a monthly or annual basis."
  • "IBM RPA is cheaper than other tools."
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  • "The licensing was purely based on the number of transactions being processed in production."
  • More Redwood Software - Finance Automation Edition Pricing and Cost Advice →

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    Questions from the Community
    Top Answer:Integrating the tool with SAP, EBS, or other ERPs is easy.
    Top Answer:The product must be promoted more. There are no promotions.
    Top Answer:We're working with different clients from the manufacturing environment. We have implemented end-to-end solutions. We work on web automation and automation of invoices.
    Top Answer: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… more »
    Top Answer: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… more »
    Top Answer: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… more »
    Ranking
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    4,105
    Comparisons
    2,992
    Reviews
    11
    Average Words per Review
    430
    Rating
    8.0
    Views
    515
    Comparisons
    342
    Reviews
    1
    Average Words per Review
    893
    Rating
    9.0
    Comparisons
    Also Known As
    IBM RPA
    Redwood Business Process Automation - Finance Edition, Redwood Robotics, Redwood Finance Automation
    Learn More
    Overview

    IBM Robotic Process Automation (RPA) is a technology that encompasses the use of smart robots in any process requiring efficiency, consistency and speed, with no risk of mistakes. In a nutshell, RPA simulates a human user working.

    Today, it is possible to automate processes through the use of digital robots, or bots, which execute pre-programed, repetitive tasks in a safe and mistake free manner. There are literally thousands of opportunities for Robotic Process Automation to make an impact on your organization today, including: automatic invoice emission, system integration, information reconciliation, report generation, intelligent email management to lead generation, and many others.

    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 reduces that unnecessary and time-consuming manual effort. We know because our customers tell us that our finance automation solution helps them achieve a much higher degree of back-office process automation compared with alternatives.

    Sample Customers
    The Hanover Insurance Group
    ArcelorMittal, Alliant Energy, Allianz, Arla, Bacardi, CPS Energy, DSM, Faurecia, Genetech, Jabil, Jumbo,
    Top Industries
    REVIEWERS
    Computer Software Company44%
    Financial Services Firm11%
    Pharma/Biotech Company11%
    Comms Service Provider11%
    VISITORS READING REVIEWS
    Computer Software Company16%
    Financial Services Firm14%
    Comms Service Provider8%
    Educational Organization8%
    VISITORS READING REVIEWS
    Financial Services Firm18%
    Energy/Utilities Company16%
    Computer Software Company9%
    Manufacturing Company5%
    Company Size
    REVIEWERS
    Small Business50%
    Midsize Enterprise8%
    Large Enterprise42%
    VISITORS READING REVIEWS
    Small Business20%
    Midsize Enterprise16%
    Large Enterprise64%
    VISITORS READING REVIEWS
    Small Business18%
    Midsize Enterprise9%
    Large Enterprise73%
    Buyer's Guide
    IBM Robotic Process Automation (RPA) vs. Redwood Software - Finance Automation Edition
    March 2024
    Find out what your peers are saying about IBM Robotic Process Automation (RPA) vs. Redwood Software - Finance Automation Edition and other solutions. Updated: March 2024.
    765,234 professionals have used our research since 2012.

    IBM Robotic Process Automation (RPA) is ranked 7th in Robotic Process Automation (RPA) with 23 reviews while Redwood Software - Finance Automation Edition is ranked 17th in Robotic Process Automation (RPA) with 3 reviews. IBM Robotic Process Automation (RPA) is rated 8.2, while Redwood Software - Finance Automation Edition is rated 9.0. The top reviewer of IBM Robotic Process Automation (RPA) writes "User-friendly interface and good stability". On the other hand, the top reviewer of Redwood Software - Finance Automation Edition writes "User-friendly and enables automation in finance, HR, and SDM". IBM Robotic Process Automation (RPA) is most compared with UiPath, Microsoft Power Automate, Automation Anywhere (AA), Blue Prism and IPsoft 1RPA, whereas Redwood Software - Finance Automation Edition is most compared with UiPath, BlackLine, Blue Prism, Blue Prism Cloud and Automation Anywhere (AA). See our IBM Robotic Process Automation (RPA) vs. Redwood Software - Finance Automation Edition report.

    See our list of best Robotic Process Automation (RPA) vendors.

    We monitor all Robotic Process Automation (RPA) reviews to prevent fraudulent reviews and keep review quality high. We do not post reviews by company employees or direct competitors. We validate each review for authenticity via cross-reference with LinkedIn, and personal follow-up with the reviewer when necessary.