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 what your peers are saying about UiPath, Automation Anywhere, Microsoft and others in Robotic Process Automation (RPA).
To learn more, read our detailed Robotic Process Automation (RPA) Report (Updated: November 2022).
655,465 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 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 →

"The cognitive features of this solution are good.""The solution is stable, we have not had any glitches or problems.""It takes care of simple tasks so users can focus more on exceptions than on regular use cases. They only focus on orders where they need to handle an exception, some information was not given, or there is an issue that they had to focus on. The rest of it goes straight through without human touch. We want to see our employees as engineers, wherein they think and solve problems, not necessarily have to do repetitive tasks. I think WorkFusion helps with avoiding repetitive tasks.""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.""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.""The most valuable features are the Excel activities. It has a number of Excel activities that are quite reliable.""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.""Their robots have increased the rate of efficiency by two to five times in our organization. There is still a human element to code out the package running the robots. You can't just click something and have it run. However, once that has been done, you can parallelize it 10 or 100 times in a fairly straightforward manner."

More WorkFusion Pros →

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

More Redwood Software - Finance Automation Edition Cons →

"The most common issue we have is with the OCR, but that also depends on the quality of the documents your scanning. Still, I would say the OCR is comparable to other solutions. I wouldn't say it's better or worse than other OCR engines.""The solution is not user-friendly, this is something they should improve.""It is difficult for non-technical users to use WorkFusion. If we really want to build automation, we definitely need Java developers. Their RPA is not for non-technical people. If I look at competing products, like Automation Anywhere, UiPath, Blue Prism, or even Power Automate, a non-technical person can build basic automations and deploy them. Since non-technical people can easily build basic automations, they can be deployed in no time. With WorkFusion, there isn't a similar feature that works well. One needs to write code from scratch to build automation. That is definitely a deterrent if we really want to do quick, dirty automation. I would not rate WorkFusion very high on their no-code, low-code paradigm. In this area, I would definitely expect them to improve.""WorkFusion comes packed with certain libraries and .jars. At times, you understand that you're using a system in which a library or .jar is outdated and you need to upgrade it... They need to better manage quickly making changes in WorkFusion to accommodate a situation where other technologies are not supporting the platform.""There is enhanced functionality I would like to see, things that would further enhance the user experience, deliver greater efficiencies, and further mitigate risk.""We have executed our robots thousands of times in our enterprise environment. However, in an enterprise environment, WorkFusion has performance problems. It is slow in production.""Where it can be improved is the speed. I built two bots, one with WorkFusion and the same thing with Python. My feeling was that the speed at which Python did things, how fast it did them, was quite cool. It was faster.""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 →

  • "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."
  • "As a first-time customer who wants to engage with WorkFusion, not working for my company, then I would want to do a PoC. The cost is prohibitive because they will ask me to get infrastructure with six or seven servers. Then, you must buy a WorkFusion license to do a PoC, which is expensive. I would then have to set up a team to build the PoC and see the benefits. That is very prohibitive."
  • "We have a good deal from WorkFusion. We have an unlimited global licensing deal with WorkFusion. For us, it is a no-worry solution. We can go ahead and use it as much as possible anywhere we need it. If WorkFusion has a different kind of a deal for licensing with others, then their business decisions need to be evaluated based on that."
  • "The overall cost could come down a bit in terms of maintaining the servers. Because it can handle complicated things in big use cases, the infrastructure is also correspondingly big. It would be nice to bring that cost down."
  • 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.
    655,465 professionals have used our research since 2012.
    Questions from the Community
    Top Answer: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.
    Top Answer:To an extent, there is a definite cost involved in terms of setting up the right infrastructure and the licensing model. This needs a good discussion on the licensing and pricing model, which can be… more »
    Top Answer:This is a tricky question, but certainly, some improvements are definitely needed in the template-based approach and modularity of design. Mapping the process steps to an existing R2R process quickly… more »
    Top Answer:The cognitive features of this solution are good.
    Top Answer:The solution is not user-friendly, this is something they should improve.
    Ranking
    Views
    1,023
    Comparisons
    652
    Reviews
    1
    Average Words per Review
    1,116
    Rating
    10.0
    Views
    6,501
    Comparisons
    2,907
    Reviews
    16
    Average Words per Review
    1,259
    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 is the leading provider of Intelligent Automation solutions for Fortune 500 enterprises, banks, insurance, and financial services companies. Our AI-enabled Digital Workers augment traditional teams by performing highly skilled and decision-centric work in operations areas including customer service and onboarding, account opening and identify verification, anti–money laundering programs, and other document-intensive compliance activities. The WorkFusion Digital Workforce continually learns on the job through regular “human-in-the-loop” interactions with co-workers. Further, the WorkFusion Network, a powerful AI cloud nexus, provides shared insights, new skills, and knowledge crowdsourced from the ongoing experience of workers in multiple environments. Teams can hire our pre-configured and customizable Digital Workers or choose to build their own using the company’s AI toolsets. WorkFusion enables enterprises to increase workforce capacity, enhance customer satisfaction and ensure ongoing compliance.

    Offer
    Learn more about Redwood Software - Finance Automation Edition
    Learn more about WorkFusion
    Sample Customers
    ArcelorMittal, Alliant Energy, Allianz, Arla, Bacardi, CPS Energy, DSM, Faurecia, Genetech, Jabil, Jumbo,
    Deutsche Bank, Scotiabank, Bank of Montreal, LPL Financial, Carter Bank & Trust, Selective Insurance, HPE, Canadian Tire, Standard Bank, Humana, New York-Presbyterian, Houston Methodist, Six Financial
    Top Industries
    VISITORS READING REVIEWS
    Computer Software Company28%
    Energy/Utilities Company9%
    Financial Services Firm9%
    Comms Service Provider9%
    REVIEWERS
    Financial Services Firm53%
    Computer Software Company21%
    Manufacturing Company5%
    Recreational Facilities/Services Company5%
    VISITORS READING REVIEWS
    Computer Software Company16%
    Financial Services Firm16%
    Comms Service Provider10%
    Insurance Company6%
    Company Size
    VISITORS READING REVIEWS
    Small Business18%
    Midsize Enterprise19%
    Large Enterprise62%
    REVIEWERS
    Small Business32%
    Midsize Enterprise4%
    Large Enterprise64%
    VISITORS READING REVIEWS
    Small Business18%
    Midsize Enterprise12%
    Large Enterprise71%
    Buyer's Guide
    Robotic Process Automation (RPA)
    November 2022
    Find out what your peers are saying about UiPath, Automation Anywhere, Microsoft and others in Robotic Process Automation (RPA). Updated: November 2022.
    655,465 professionals have used our research since 2012.

    Redwood Software - Finance Automation Edition is ranked 14th in Robotic Process Automation (RPA) with 1 review while WorkFusion is ranked 5th in Robotic Process Automation (RPA) with 16 reviews. Redwood Software - Finance Automation Edition is rated 10.0, while WorkFusion is rated 8.0. The top reviewer of Redwood Software - Finance Automation Edition writes "Out-of-the-box modules help to save time in development and reduce human error". On the other hand, the top reviewer of WorkFusion writes "Helps our bank get reconciliations done on time, and frees up employee time to work with customers". Redwood Software - Finance Automation Edition is most compared with UiPath, Blue Prism, BlackLine, Automation Anywhere (AA) and Microsoft Power Automate, whereas WorkFusion is most compared with UiPath, Blue Prism, Automation Anywhere (AA), Microsoft Power Automate and ABBYY Vantage.

    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.