Redwood helps you intelligently design and automate your financial processes. Our catalog of ready-made financial tasks allows your finance teams to get started quickly and easily, linking dependent tasks together without specialized IT training. Redwood’s automation understands your finance systems and wider systems and applications, using the table structures in your ERP, your data and metadata to mimic your processes quickly.
Finance automation software
Eliminate manual processes and orchestrate your finance and accounting processes like record to report with cloud-based Finance Automation by Redwood Software.
Automation across finance
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 than alternatives.
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Record to report
Close your books faster and more accurately — without the stress and manual effort.
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Close checklist
Expedite reconciliation with precision, efficiency and visibility.
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Journal entry
Automate approval workflows and audit trails for seamless, compliant recording.
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Intercompany
Simplify complex intercompany transactions to achieve accurate financial reporting.
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Accruals, provisions and reclassifications
Address the most labor-intensive part of R2R — standardize and save time.
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Asset accounting
Streamline processes to plan, create and track assets quickly and confidently.
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Redwood’s approach to finance automation and record to report
Redwood’s R2R automation significantly elevates financial operations by automating most repetitive tasks, from data entry to final report generation, with sophisticated finance automation tools. Integration with SAP and other ERP systems ensures data accuracy and streamlines workflows, reducing human error and allowing finance teams to concentrate on strategic financial planning and decision-making.
Deploying Redwood’s solution enhances compliance and speeds up financial close cycles, thus improving operational efficiencies and providing real-time insights crucial for stakeholders making timely business decisions. The platform’s flexibility allows tailoring for diverse record-to-report transformation initiatives, making it an excellent choice for enhancing financial operations across various corporate landscapes.
Switch focus from manual production to analysis and insight
Finance teams spend too much time on control and production at the expense of analysis.
Redwood’s cloud-based finance process automation inverts that. Automation takes care of the manual control and production aspects, frees your finance team to devote more time to analysis and provides the essential insights that improve decision-making and business performance.
1. Define
2. Orchestrate
Link and easily assemble thousands of processes using our orchestration engine. We help stitch your processes together, seamlessly connecting process elements with human approvals and review cycles where required. Automatically write results to and from your underlying financial systems and easily clone and edit entire processes.
3. Execute
Kickstart your processes without the need for human intervention, and allow them to continue until complete with our “lights-out processing” – the ultimate level of automation. Your finance teams are always in control and can intervene wherever necessary. Dashboards keep track of tasks, activities and bottlenecks so you can identify further process improvements during each successive run.
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Application-based automation
Get greater reliability and control with fully supported and maintained connections to your core applications and systems. -
Ready-to-use components
Process development is quicker and easier than ever with our growing catalog of pre-automated tasks. -
Comprehensive orchestration
Easily manage and coordinate complex processes and automate their interdependencies without manual intervention. -
Process expertise
Let our experts help you assess and select processes to develop and support your automation improvements. -
Scale to changing needs
Scale your automated processes easily and rapidly while containing the traditionally associated costs. -
ERP and non-ERP friendly
Our catalog of pre-automated tasks works with any ERP system and many other business applications. -
Control at key points
Empower and inform business users with built-in business process management and clear dashboards. -
Built-in audit and controls
Every step is fully logged and auditable at the process level without manual intervention.
Automate your finance operations
Orchestrate across SAP ERPs, data warehouses, business applications and other automation tools like robotic process automation (RPA). Centralize your automation to gain end-to-end control over any finance or account reconciliation process.
- Record to report: Automate general ledger/subledger, intercompany financial consolidation, financial close checklist, spreadsheet reconciliation and more.
- Asset accounting: Perform asset acquisition tasks, enforce compliance, track and capitalize projects and automatically perform account reconciliation and depreciation.
Orchestrate across silos
Finance Automation by Redwood works with your existing applications to automate financial reporting. Automate end-to-end processes across the enterprise regardless of technology or provider (SAP, Oracle and more).
- Business processes: Orchestrate ERP systems, supply chain workflows, data entry, procurement software, purchase-to-pay and more.
- Managed file transfers: Securely move, copy and manage files such as bank statements across unsecured networks and external endpoints.
- Data sources: Manage data from any source, including CRM, ETL, cloud-native databases, artificial intelligence, machine learning and more.
- Hybrid IT: Connect finance and IT processes to ensure successful workloads and eliminate bottlenecks and delays with real-time resource management.
Ensure compliance and security
Finance Automation by Redwood is an intelligent automation solution designed to enforce your internal controls. Enforce fine-grained data standards and access policies, including SSO/SAML 2.0+ and logically isolate different teams, departments or applications.
- Built-in audit trails and controls ensure that every step is fully logged and auditable without manual intervention.
- Simplified IFRS processes meet internal or external regulatory requirements easily.
- Secure connections with TLS 1.3 encryption originate from your enterprise network to the cloud without exposing ports.
- Redwood’s ISO 27001, SOC 2 and CSA STAR Level 1 certified and third-party pen-tested platform provide security you can trust.
Support and services for any business need
- 24×5 support: Redwood’s in-house automation experts provide 24×5 support for all issues and 24×7 SEV-1 support and are ready to assist and resolve issues quickly
- Migration and onboarding: Our team members ensure a smooth, safe and fast transition using a proven methodology that streamlines migration.
- Consulting and services: We help implement best practices, perform health checks and advise on how to boost your ROI.
- Redwood University: Develop and extend your skills and expertise with online training that matches your role and level of experience.
Restore control to the finance function
Redwood helps you regain control with comprehensive finance automation that removes unnecessary manual work. We also use the native capabilities of the most popular ERP and financial management solutions so you can manage and perform tasks automatically.
See Finance Automation by Redwood in action
Transform your finance and accounting processes with Redwood’s innovative approach to finance automation and orchestration. Let our team show you why thousands of leading organizations worldwide rely on Redwood to help them excel in the digital age.
Digital transformation for finance
Finance automation FAQs
What is automation in finance?
Financial automation employs advanced tech like bots and RPA to streamline accounts receivable, bookkeeping and invoice processing tasks. It aids CFOs and finance pros in budgeting, forecasting and expense management, integrating with existing apps for seamless operations.
Finance Automation by Redwood integrates with ERP, CRM, legacy data centers and cloud-native applications, so you can easily gather and manage financial data without manual intervention.
Read the CIO’s guide to finance automation to understand why it matters.
How do you automate a finance department?
Automating a finance department involves leveraging cutting-edge automation technology to streamline various financial processes efficiently. Finance leaders and professionals can employ RPA to automate tasks such as processing expense reports, managing purchase orders and managing payable operations. By integrating automation tools with existing interfaces and systems, teams can ensure seamless data exchange and reporting to enhance overall efficiency. Automation facilitates real-time cash flow monitoring, pricing strategies and profitability, enabling proactive decision-making and resource allocation.
Discover what happens when you automate the finance department.
Is Redwood used for finance automation?
Yes, Finance Automation by Redwood automates and manages processes across business, finance and accounting functions. Non-IT employees can easily assemble and optimize automated processes that manage data and dependencies between disparate systems and business applications. Redwood provides complete visibility into tasks to support tight collaboration among stakeholders, plus full audit trails and reporting to help meet compliance requirements.
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