Redwood Software - Finance Automation Edition vs WorkFusion comparison

Cancel
You must select at least 2 products to compare!
Comparison Buyer's Guide
Executive Summary

We performed a comparison between Redwood Software - Finance Automation Edition and WorkFusion 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.
To learn more, read our detailed Redwood Software - Finance Automation Edition vs. WorkFusion Report (Updated: March 2024).
768,924 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
"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."

More Redwood Software - Finance Automation Edition Pros →

"We have been very pleased with the speed and decisiveness of WorkFusion, which is able to quickly provide a disposition note or escalate to a human for additional review.""We recommend different solutions based on our customers' needs, and WorkFusion is what we offer for those who need a premium solution.""We need to analyze documents in order to understand them. We don't need to dedicate much time to this because WorkFusion's machine learning capabilities are very good. We can easily extract information and classify these documents. The document processing engine is very important to our organization because it is the center for many use cases, as we need to control the information contained in documents.""OCR, document processing, is one of the main features of WorkFusion. It can analyze your documents very efficiently. The accuracy is close to 90 percent. It can analyze and extract data from any document to populate or update it in other sources, like Excel or Google Sheets.""We have seen Workfusion improve on accuracy and compliance... With the Workfusion model, we reduce human error and the need for further QC. We switch more to a QA process where we're testing whether the model is effective.""WorkFusion helps by speeding up processes. The process takes time. It has business costs associated because there are people waiting to take the next steps in the process. The end result of waiting, whether it is an internal or external team, is that they are delayed. Therefore, it helps us in speeding up business processes and improving employee morale, as people don't have to do repetitive work anymore.""The Control Tower enables us to create and use workflows. It helps us run processes. There are a lot of small features, but the Control Tower is a very good feature, wherein we can create bots and schedule them as well as create different instances of them to run in different regions.""WorkFusion's RPA Express's ability to scale across multiple geographies with limited impact on additional IT Hardware requirements. This has enabled the scaling of Robotics capabilities and solutions across all our entities."

More WorkFusion Pros →

Cons
"Mapping the process steps to an existing R2R process quickly would be a definite step forward.""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."

More Redwood Software - Finance Automation Edition Cons →

"We are having some database issues, but we are addressing them.""So far, we have developed only one automation using machine learning. The results were less than optimal. Part of this could be because of the use case that was selected. Overall, our experience was suboptimal. WorkFusion was an outstanding partner in terms of providing their experts for free to help us on that particular use case, but we still have a lot of things to figure out in terms of how to use its machine learning capability.""The product could do more to expand its 'codeless' coding options by adding drag-and-drop assistance in building bots for non-technical users.""On a scale of 1 - 10 I would rate them a 6. That's not low - that 60%. But as I said, it needs to be upgraded and modified.""It is complex for enterprise implementation. The solution needs a needs minimum, of 20-22 servers. It's no small task. This is not a straightforward setup. It's a large undertaking and there are many moving parts.""If we're talking from a developer perspective, the task of actually building automation is not ideal. That's not their strong side.""We had some issues in the past, but it is fairly stable now. From what I hear, it is more stable in the later versions. With version 10.1.4, there were some issues relating to load distribution. However, it is good now.""This is a Java-based application that takes up a lot of space and when it runs, consumes a lot of memory. This affects the reliability because it gets to a point where it hangs."

More WorkFusion Cons →

Pricing and Cost Advice
  • "The licensing was purely based on the number of transactions being processed in production."
  • More Redwood Software - Finance Automation Edition Pricing and Cost Advice →

  • "Find it online."
  • "They have a very expensive license compared to any other automation tool. For instance, at $50,000 - $60,000, you can bring in an Automation Anywhere solution. For this solution, you need at least $250,000 to get something going."
  • "It is not the most expensive solution, but it is also not the cheapest."
  • "I can't speak to pricing. It's a contract signed by upper management."
  • "We are on an annual contract to use the solution."
  • "My client is using RPA Express, which is available for them to use free of charge."
  • "One upgrade took a year to do, from the first server being built to the last bot being migrated. This was because we had to migrate all our existing bots. This is the same process and time frame that we are expecting towards the upcoming upgrade. I will end up spending half a million dollars to do an upgrade."
  • "The solution was not the cheapest, but it was also not the most expensive. Workfusion was very open to negotiating pricing and to working within the objectives of our firm."
  • More WorkFusion Pricing and Cost Advice →

    report
    Use our free recommendation engine to learn which Robotic Process Automation (RPA) solutions are best for your needs.
    768,924 professionals have used our research since 2012.
    Questions from the Community
    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 »
    Top Answer:If you compare it to its competitors in the market, it is more Java-native.
    Top Answer:Everything should be cheaper. However, it's fairly priced. They have a pricing scale. We've been with them for a while, so we've already hit the roof. We've been with them so long that they are very… more »
    Top Answer:For non-technical users, it may be easy to use. It depends on what perspective we're talking about. From a business perspective, like manual tasks, it's good. However, it's all about what the… more »
    Ranking
    Views
    486
    Comparisons
    322
    Reviews
    2
    Average Words per Review
    1,150
    Rating
    8.5
    Views
    4,502
    Comparisons
    1,744
    Reviews
    9
    Average Words per Review
    1,551
    Rating
    7.9
    Comparisons
    Also Known As
    Redwood Business Process Automation - Finance Edition, Redwood Robotics, Redwood Finance Automation
    Learn More
    Overview

    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.

    WorkFusion, Inc. is the creator of AI-enabled Digital Workers designed specifically for banking and financial services organizations. Its Digital Workers are true knowledge workers that effectively augment existing teams in functions like anti-money laundering (AML), sanctions, customer onboarding, Know Your Customer (KYC), and customer service. WorkFusion’s digital workforce solutions help solve talent shortages, increase workforce capacity, save money, enhance employee and customer satisfaction, and ensure ongoing compliance. For more information visit workfusion.com.


    Sample Customers
    ArcelorMittal, Alliant Energy, Allianz, Arla, Bacardi, CPS Energy, DSM, Faurecia, Genetech, Jabil, Jumbo,
    Deutsche Bank, Amerant Bank, Bank of Asia, Scotiabank, Bank of Montreal, LPL Financial, Carter Bank & Trust, Selective Insurance, HPE, Canadian Tire, Standard Bank, Humana, New York-Presbyterian, Houston Methodist, Six Financial, State Street
    Top Industries
    VISITORS READING REVIEWS
    Financial Services Firm17%
    Energy/Utilities Company16%
    Computer Software Company9%
    Manufacturing Company5%
    REVIEWERS
    Financial Services Firm52%
    Computer Software Company17%
    Retailer9%
    Manufacturing Company4%
    VISITORS READING REVIEWS
    Financial Services Firm18%
    Computer Software Company13%
    Comms Service Provider11%
    Manufacturing Company7%
    Company Size
    VISITORS READING REVIEWS
    Small Business18%
    Midsize Enterprise8%
    Large Enterprise74%
    REVIEWERS
    Small Business29%
    Midsize Enterprise3%
    Large Enterprise68%
    VISITORS READING REVIEWS
    Small Business18%
    Midsize Enterprise10%
    Large Enterprise72%
    Buyer's Guide
    Redwood Software - Finance Automation Edition vs. WorkFusion
    March 2024
    Find out what your peers are saying about Redwood Software - Finance Automation Edition vs. WorkFusion and other solutions. Updated: March 2024.
    768,924 professionals have used our research since 2012.

    Redwood Software - Finance Automation Edition is ranked 19th in Robotic Process Automation (RPA) with 3 reviews while WorkFusion is ranked 10th in Robotic Process Automation (RPA) with 30 reviews. Redwood Software - Finance Automation Edition is rated 9.0, while WorkFusion is rated 7.8. The top reviewer of Redwood Software - Finance Automation Edition writes "User-friendly and enables automation in finance, HR, and SDM". On the other hand, the top reviewer of WorkFusion writes "Helps improve our accuracy and compliance, but the analytics module can be confusing". Redwood Software - Finance Automation Edition is most compared with UiPath, BlackLine, Blue Prism, Blue Prism Cloud and Automation Anywhere (AA), whereas WorkFusion is most compared with UiPath, Blue Prism, Automation Anywhere (AA), Microsoft Power Automate and ABBYY Vantage. See our Redwood Software - Finance Automation Edition vs. WorkFusion 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.