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Automation Anywhere vs Redwood Software - Finance Automation Edition comparison

 

Comparison Buyer's Guide

Executive SummaryUpdated on Dec 4, 2024
 

Categories and Ranking

Automation Anywhere
Ranking in Robotic Process Automation (RPA)
3rd
Average Rating
8.4
Reviews Sentiment
7.0
Number of Reviews
525
Ranking in other categories
Process Mining (1st)
Redwood Software - Finance ...
Ranking in Robotic Process Automation (RPA)
18th
Average Rating
9.0
Reviews Sentiment
7.5
Number of Reviews
3
Ranking in other categories
Financial Close Software (10th)
 

Mindshare comparison

As of December 2024, in the Robotic Process Automation (RPA) category, the mindshare of Automation Anywhere is 11.7%, down from 15.6% compared to the previous year. The mindshare of Redwood Software - Finance Automation Edition is 0.4%, up from 0.3% compared to the previous year. It is calculated based on PeerSpot user engagement data.
Robotic Process Automation (RPA)
 

Featured Reviews

Nelson F. Guerrero - PeerSpot reviewer
Saved us half a million dollars and 10,000 hours in the first year
There have been numerous improvements in the organization. We have saved hours and time and hard dollars. In the first year, we saved over half a million dollars. That was about six months of time. After that, we have done at least three million year over year, and we have increased that very much. As far as time saved, it is well over 10,000 hours in the first year alone, and we continue to grow. This year, we are projecting 30,000 manual hours saved. Prior to the implementation of Automation Anywhere, we had lots and lots of manual work. People would go into Excel and copy data from one master sheet to many sheets. They would compile data. They would take lots of time to do these things. Today, they can go in, press a button, and launch it. They can download hundreds and thousands of invoices, whereas previously, they used to do it manually. One of our use cases saved two people four days a week of time, which is 32 hours each. We now do that automatically in six hours. The learning curve is initially a little daunting, but after you are in there and you understand how it works, it is very seamless. It is very easy to pick up and very intuitive, and then from there, it is pretty much you go and get your hands dirty. The tools that we integrate with Automation Anywhere so far have been Python scripts and PowerShell. We have got Power Automate and Power Flows from Microsoft. We are starting to do some cognitive RPA. We are implementing OpenAI through Azure. We have got a lot of that going right now. The integration with all of the documents and APIs is very seamless. There are packages available in the store if you do not have the integration built-in out of the box. They are available to everyone. Everything that we have been able to use has been just drag and drop. We can just pop in our credentials and be done. Automation Anywhere has affected us in a positive way in terms of employee capacity and compliance. We have not had to backfill roles. We have not necessarily replaced people, and that is by intent. We did not want to replace people, but we also did not want to have to backfill people. We wanted people to focus on things that they value and be more productive instead of doing mind-numbing things that get no value, but they just have to do it. Our time and cost savings have been immense since the beginning. In our first year, after we started launching the bots in June or July of 2019, we saved half a million dollars and 10,000 man-hours. Since then, we have grown more than 70% year over year. This year, we are on track to go up to about 40,000 man-hours saved and more than three million hard dollars saved. They have been able to provide automation at scale pretty well. We fired up and started off with only three production machines. We are now up at five. Officially, we were going up to seven as of next week. We have heard about people here at the Imagine conference who, for example, have hundreds, so the point is proven, and the facts are there. They can scale up very quickly. The main Automation Anywhere Program offering we use is Pathfinder. We have not utilized our partner services or anything like that, but Pathfinder has been great. Their user groups have been great. To be able to focus and see the product launches beforehand has always been advantageous. The ability to see that has been good.
Amarjeet Kamble - PeerSpot reviewer
User-friendly and enables automation in finance, HR, and SDM
There is room for improvement, considering no tools having everything inside it is right. So 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. Right now, you can do it with a little bit of custom scripting in addition to eight. But rather than custom scripting, if we can have a direct feature integrated inside this tool, it will be a major achievement. So, it already has that capability, as you can do custom scripting, and you can go ahead with creating your own. But the direct functions are not available. That's where we are lagging behind. However, importing the values or importing the service can be achieved. So, that is where I can see the room for improvement. In this particular area, the entire system can be improved.

Quotes from Members

We asked business professionals to review the solutions they use. Here are some excerpts of what they said:
 

Pros

"The most valuable features for us are the Image Recognition and Object Cloning. We used this feature to automate our web-based tasks with repetitive actions or complex conditions. These features are very easy to use and do not require you to have deep knowledge in programming to understand since it has a drop and drag feature used to control it."
"The valuable features that I see for automation with enterprise RPA are IQ Bot and Bot Insights. If you do anything, Bot Insight will provide the dashboard. It starts from the developer with artificial intelligence and the dashboard, which will provide the visibility of business-level metrics as well as operational-level metrics. Those are the good things I see in automation."
"I consider the verification station very useful because it allows you to quickly check if the data extracted are correct or if you need to change the process."
"From a developer perspective, the user interface is user-friendly and easy to use."
"The dashboards are excellent."
"Automation Anywhere's OCR functionality stands out as the most valuable feature for us, as it allows us to swiftly extract data for repetitive tasks, significantly boosting our efficiency."
"The integration of RPA bots with other processes and documents is good. We don't have any issues there. We could have more connectors, but it's fine. I have used it for SAP and for direct API-to-API, and that went well."
"We have been able to reduce the amount of repetitive tasks completed by operations, allowing individuals to move onto tasks which cannot yet be automated."
"So the best thing is ease of use."
"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."
"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."
 

Cons

"MetaBot still needs to be optimized, though Version 11.3 did integrate all the commands into it. We are not able to see all the lines of code which are executed in MetaBot."
"At some places, the if-else statements become so confusing so, at that place, they can change the UI for better understanding. Apart from this I liked this tool and would like to continue working on this."
"We want it to work with more APIs. It needs to integrate with multiple APIs. That would be something that I would like going forward."
"We had several issues when trying to connect the different components, due to our firewalls. They were eventually solved by our internal IT and the AA technical team."
"They need to make the solution more robust."
"I would like to see GitHub or GitLab integration in the next version."
"An additional feature we would like to see is the inclusion of a particular kind of scripting in the development environment itself."
"The bot scaling process was painful, when you go beyond a few bots, and because we had stability issues. We had to work through the issues, and they took us a long time."
"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."
"Mapping the process steps to an existing R2R process quickly would be a definite step forward."
"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."
 

Pricing and Cost Advice

"Automation Anywhere's pricing is significantly higher than other RPA solutions."
"My understanding is that the license cost of Automation Anywhere is more reasonable than UiPath and Blue Prism."
"We save approximately 10,000 hours per year."
"It saves me around $100,000 a year."
"It's the best RPA tool, but the pricing could be improved."
"We're on a license package with Automation Anywhere (AA), paid yearly. What would be better is for them to have different packages for different types of organization."
"The solution is quite expensive. Not every organization can consider this option."
"Automation Anywhere is expensive, making it more suitable for enterprise organizations."
"The licensing was purely based on the number of transactions being processed in production."
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Top Industries

By visitors reading reviews
Financial Services Firm
15%
Computer Software Company
14%
Manufacturing Company
11%
Healthcare Company
5%
Financial Services Firm
19%
Computer Software Company
11%
Manufacturing Company
9%
Energy/Utilities Company
8%
 

Company Size

By reviewers
Large Enterprise
Midsize Enterprise
Small Business
No data available
 

Questions from the Community

How good is Automation Anywhere for RPA processes?
It depends on your use case. Is it simply to automate a couple of processes? Is it to augment a human team? AA is very good in certain situations but lacks in others. For me, it's more the team tha...
How good is Automation Anywhere for RPA processes?
From my experience using AA tool, it depends on the applications that you want to automate, because there some applications that AA has limitations for, such as the Oracle. For web-based applicatio...
How good is Automation Anywhere for RPA processes?
It is a highly preferred RPA tool. You can check my Automation Anywhere Review to know more.
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

Automation Anywhere, Testing Anywhere, Automation Anywhere Enterprise
Redwood Business Process Automation - Finance Edition, Redwood Robotics, Redwood Finance Automation
 

Overview

 

Sample Customers

Google, Linkedin, Cisco, Juniper Networks, DellEMC, Comcast, Mastercard, Quest Diagnostics
ArcelorMittal, Alliant Energy, Allianz, Arla, Bacardi, CPS Energy, DSM, Faurecia, Genetech, Jabil, Jumbo,
Find out what your peers are saying about Automation Anywhere vs. Redwood Software - Finance Automation Edition and other solutions. Updated: December 2024.
824,053 professionals have used our research since 2012.