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Datamatics TruBot vs Redwood Software - Finance Automation Edition comparison

Datamatics and Redwood Software are both solutions in the Robotic Process Automation (RPA) category. Datamatics is ranked #30 with an average rating of 7.0, while Redwood Software is ranked #18 with an average rating of 8.5. Datamatics holds a 0.2% mindshare in RPA, compared to Redwood Software’s 0.4% mindshare. Additionally, 100% of Datamatics users are willing to recommend the solution, compared to 80% of Redwood Software users who would recommend it.
Datamatics TruBot
Read 3 Datamatics TruBot reviews
  • 261 Views
  • 145 Comparison Views
100% willing to recommend
Redwood Software - Finance ...
Read 3 Redwood Software - Finance Automation Edition reviews
  • 330 Views
  • 241 Comparison Views
80% willing to recommend
 

Comparison Buyer's Guide

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Executive SummaryUpdated on Dec 4, 2024

Redwood Software Finance Automation Edition and Datamatics TruBot compete in finance automation. Datamatics TruBot seems to have an edge with its innovative features, while Redwood Software excels in customer satisfaction regarding cost-effectiveness and support.

Features:Redwood Software Finance Automation Edition provides comprehensive automation specifically for finance operations, enhancing compliance and integration with enterprise systems. Additional features include tailored automation solutions and industry-specific compliance tools. Datamatics TruBot focuses on versatile process automation across industries, incorporating advanced AI and cognitive capabilities. It also offers a broader feature set that appeals to businesses seeking diverse automation solutions and includes cross-industry applicability and intelligent automation processes.

Ease of Deployment and Customer Service:Redwood Software ensures simplified deployment with strong customer service, integrating seamlessly within existing financial frameworks. Datamatics TruBot facilitates smooth deployment through a flexible model, though it may require extra customization. While both offer robust support, Redwood Software's customer service is notably proactive and aligned with finance-specific challenges.

Pricing and ROI:Redwood Software Finance Automation Edition often comes with a higher initial setup cost but offers strong ROI for financial functions due to its specialized automation. Datamatics TruBot presents competitive pricing with rapid deployment across sectors, facilitating faster ROI. For businesses focusing on finance, Redwood's higher cost can be justified by its tailored returns, while Datamatics provides broader value across multiple areas.

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To learn more, read our detailed Datamatics TruBot vs. Redwood Software - Finance Automation Edition Report (Updated: December 2024).
Buyer's Guide
Datamatics TruBot vs. Redwood Software - Finance Automation Edition
December 2024
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Categories and Ranking

Datamatics TruBot
Ranking in Robotic Process Automation (RPA)
30th
Average Rating
8.4
Reviews Sentiment
7.8
Number of Reviews
3
Ranking in other categories
No ranking in other categories
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 Datamatics TruBot is 0.2%, up from 0.2% 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

IS
Offers good UI but needs to improve its integration capabilities
Speaking about how the tool is useful in automating repetitive tasks in our company, I would say that my company started to collect data with the help of Datamatics while also using its GPS tracking features. The tool's UI is much better than the ones offered by other similar products in the market. I recommend the product to others who plan to use it. I suggest that others use their own method of interrogation since it will help them achieve more growth in their organizations through the use of the tool. I rate the tool a seven and a half out of ten.
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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.
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Quotes from Members

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

Pros

"Ability to calculate the ROI on the jobs that are running."
"The solution is inexpensive compared to many other solutions in the market."
"The product's initial setup phase is straightforward and easy to 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."
"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."
 

Cons

"The stability of the product has certain shortcomings, making it an area where improvements are required."
"There is a learning curve, and some training could be included to bring users up to speed."
"Would like to see more additions to the library."
"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."
"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."
 

Pricing and Cost Advice

"The tool is expensive."
"The licensing was purely based on the number of transactions being processed in production."
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Top Industries

By visitors reading reviews
No data available
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
No data available
 

Questions from the Community

What do you like most about Datamatics TruBot?
The product's initial setup phase is straightforward and easy to use.
See all answers
What is your experience regarding pricing and costs for Datamatics TruBot?
The tool is expensive.
See all answers
What needs improvement with Datamatics TruBot?
The stability of the product has certain shortcomings, making it an area where improvements are required. The integration capabilities of the product have some concerns and need improvements. The p...
See all answers
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...
See all answers
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...
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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...
See all answers
 

Comparisons

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Blue Prism Cloud vs Datamatics TruBot Logo
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Compared 32% of the time
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BlackLine vs Redwood Software - Finance Automation Edition Logo
BlackLine vs Redwood Software - Finance Automation Edition
Compared 55% of the time
UiPath vs Redwood Software - Finance Automation Edition Logo
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Compared 45% of the time
More Redwood Software - Finance Automation Edition Competitors
 

Product Reports

Buyer's Guide
Robotic Process Automation (RPA)
November 2024
Datamatics TruBot reportDownload Datamatics TruBot product report
Buyer's Guide
Redwood Software - Finance Automation Edition
December 2024
Redwood Software - Finance Automation Edition reportDownload Redwood Software - Finance Automation Edition product report
 

Also Known As

TruBot
Redwood Business Process Automation - Finance Edition, Redwood Robotics, Redwood Finance Automation
 

Learn More

Datamatics
Redwood Software
 

Overview

TruBot is a proprietary product for Robotic Process Automation. It is a team of virtual assistants that automates repetitive and rule-based processes without any manual intervention. When powered with Artificial Intelligence, it can recognize and replicate human actions, creating a smarter bot that can make informed decisions. TruBot is sector agnostic and can be deployed across Banking, Healthcare, Insurance, Manufacturing, and Logistics.


Datamatics TruBot - https://trubot.datamatics.com/

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.

 

Sample Customers

Aditya Birla Sunlife Insurance Company, IndusInd Bank
ArcelorMittal, Alliant Energy, Allianz, Arla, Bacardi, CPS Energy, DSM, Faurecia, Genetech, Jabil, Jumbo,
Buyer's Guide
Datamatics TruBot vs. Redwood Software - Finance Automation Edition
December 2024
Free Report: Datamatics TruBot vs. Redwood Software - Finance Automation Edition
Find out what your peers are saying about Datamatics TruBot vs. Redwood Software - Finance Automation Edition and other solutions. Updated: December 2024.
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