Try our new research platform with insights from 80,000+ expert users

Prophix 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

Prophix
Ranking in Financial Close Software
18th
Average Rating
8.2
Reviews Sentiment
6.9
Number of Reviews
10
Ranking in other categories
Business Performance Management (20th), Financial Performance and Strategy Management (6th)
Redwood Software - Finance ...
Ranking in Financial Close Software
10th
Average Rating
9.0
Reviews Sentiment
7.5
Number of Reviews
3
Ranking in other categories
Robotic Process Automation (RPA) (13th)
 

Mindshare comparison

As of January 2026, in the Financial Close Software category, the mindshare of Prophix is 3.4%, up from 1.3% compared to the previous year. The mindshare of Redwood Software - Finance Automation Edition is 3.0%, up from 2.0% compared to the previous year. It is calculated based on PeerSpot user engagement data.
Financial Close Software Market Share Distribution
ProductMarket Share (%)
Redwood Software - Finance Automation Edition3.0%
Prophix3.4%
Other93.6%
Financial Close Software
 

Featured Reviews

it_user287946 - PeerSpot reviewer
Managing Director at a tech services company
Easy to use and cloud-ready, helps me manage my business
Increased margin on products Easy to use Rich functionality Complete corporate performance management solution Based on modern technology Cloud-ready All of them allow me to manage my business. BI analytics Few related Ad Hoc Analyses in one window Sorting and filtering in Data View More…
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.
report
Use our free recommendation engine to learn which Financial Close Software solutions are best for your needs.
881,082 professionals have used our research since 2012.
 

Top Industries

By visitors reading reviews
Computer Software Company
30%
Construction Company
13%
Performing Arts
9%
Insurance Company
8%
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 Business3
Midsize Enterprise3
Large Enterprise4
No data available
 

Questions from the Community

Ask a question
Earn 20 points
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

Solarcentury, Swan Mill Paper Company, Interstates Companies, First Medical Health Plan, Community Physician Network, AAA Southern New England
ArcelorMittal, Alliant Energy, Allianz, Arla, Bacardi, CPS Energy, DSM, Faurecia, Genetech, Jabil, Jumbo,
Find out what your peers are saying about Prophix vs. Redwood Software - Finance Automation Edition and other solutions. Updated: January 2026.
881,082 professionals have used our research since 2012.