We performed a comparison between Planful and Redwood Software - Finance Automation Edition based on real PeerSpot user reviews.
Find out what your peers are saying about Blackline, Workiva, Oracle and others in Financial Close Software."It has helped us speed up the turnaround time on our consolidation. We don't have to do reporting in Excel anymore, which has cut down on the errors and the efficiency of our close time."
"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."
"So the best thing is ease of use."
"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."
"The part that we liked about Excel is that it had a better interface in terms of just graphical illustration of our results. So, if we wanted to look at our financial trends and put it into some type of graphical interface for people to look at, we still have to leverage Excel for that. The dashboards aren't as usable as maybe some of the other solutions, such as Tableau or other BI tools."
"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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Earn 20 points
Planful is ranked 15th in Financial Close Software while Redwood Software - Finance Automation Edition is ranked 8th in Financial Close Software with 3 reviews. Planful is rated 8.0, while Redwood Software - Finance Automation Edition is rated 9.0. The top reviewer of Planful writes "It has helped us speed up the turnaround time on our consolidation, and we haven't had anything come up that the program has not been able to solve". On the other hand, the top reviewer of Redwood Software - Finance Automation Edition writes "User-friendly and enables automation in finance, HR, and SDM". Planful is most compared with Anaplan, Adaptive Insights, Vena, Board and Prophix, whereas Redwood Software - Finance Automation Edition is most compared with UiPath, BlackLine, Blue Prism, Blue Prism Cloud and Automation Anywhere (AA).
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