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IBM Robotic Process Automation (RPA) vs Redwood Software - Finance Automation Edition comparison

 

Comparison Buyer's Guide

Executive Summary
 

Categories and Ranking

IBM Robotic Process Automat...
Ranking in Robotic Process Automation (RPA)
8th
Average Rating
8.2
Number of Reviews
23
Ranking in other categories
No ranking in other categories
Redwood Software - Finance ...
Ranking in Robotic Process Automation (RPA)
18th
Average Rating
9.0
Number of Reviews
3
Ranking in other categories
Financial Close Software (10th)
 

Mindshare comparison

As of November 2024, in the Robotic Process Automation (RPA) category, the mindshare of IBM Robotic Process Automation (RPA) is 2.0%, down from 2.6% 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

Karinne Carnevalli De Almeida - PeerSpot reviewer
User-friendly interface and good stability
I would recommend using IBM RPA. I would advise you to learn about your main processes to automate inside your company. So you can apply it in big and small processes depending on the investment for your company. That is an advantage or not. Overall, I would rate the solution an eight out of ten. It has some difficulty in the tool, but it's a very stable and useful tool for automating processes.
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 quality is great! It's very strong and has a very strong platform."
"The feature I found most valuable is the TCO."
"It's user-friendly; even non-technical people can program bots using drag-and-drop functionalities."
"IBM RPA helped us resolve a lot of difficult cases we could not resolve using other solutions."
"The initial setup is very easy."
"It's not inclusive, in terms of automation, you can just do it standalone, in its own silo. It's not going to force your existing system or teams, your admin teams, to create new IDs for you or even force them to create new services or APIs for you or expose something from there. They can just keep the way they are doing it right now, but you still automate it."
"The most valuable feature is the ability to automate mundane tasks. This improves efficiency, reliability, etc. You can form critical operations which can be highly automated."
"It is a good tool for automation."
"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."
"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."
 

Cons

"The scalability of the solution can be challenging."
"There are certain limitations in the solution for screen reading."
"Needs better integration with artificial intelligence or with machine-learning."
"We're based in Thailand, but the documentation is not in Thai, which makes it difficult for us. If they could translate all of their documentation into our language, we'd be very grateful."
"This RPA should be under the umbrella of BPM. This is what the future should be."
"The product's document readers must be improved to capture the data well."
"The users should be allowed to create folders in Control Center."
"Extensibility is the key, especially in terms of the Recorders feature that we have. That should be browser independent. Enhance it because some people have Chrome, some have Internet Explorer, etc. Also, integration with PDFs: Not just the ability to read information from PDFs but the ability to write information from PDFs, make it secure, sign it, etc. Finally, if they can allow a token exchange inside the tool itself, that would help."
"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."
"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."
 

Pricing and Cost Advice

"The pricing is reasonable."
"IBM licensing is annual and based on Virtual Processor Cores (VPC). This provides flexibility as part of the containerization environment."
"The product is reasonably priced compared to other tools."
"The pricing is reasonable for this solution."
"There is a free trial for one month, so you can use it to run your payloads or proof of concept. After that, you can pay for the license on a monthly or annual basis."
"IBM RPA is cheaper than other tools."
"I rate the pricing ten out of ten. So, the pricing is very good for me."
"The product has a yearly licensing fee."
"The licensing was purely based on the number of transactions being processed in production."
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816,406 professionals have used our research since 2012.
 

Top Industries

By visitors reading reviews
Financial Services Firm
16%
Computer Software Company
15%
Educational Organization
10%
Manufacturing Company
7%
Financial Services Firm
18%
Computer Software Company
10%
Energy/Utilities Company
10%
Manufacturing Company
9%
 

Company Size

By reviewers
Large Enterprise
Midsize Enterprise
Small Business
No data available
 

Questions from the Community

What do you like most about IBM Robotic Process Automation (RPA)?
Integrating the tool with SAP, EBS, or other ERPs is easy.
What needs improvement with IBM Robotic Process Automation (RPA)?
The product must be promoted more. There are no promotions.
What is your primary use case for IBM Robotic Process Automation (RPA)?
We're working with different clients from the manufacturing environment. We have implemented end-to-end solutions. We work on web automation and automation of invoices.
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

IBM RPA
Redwood Business Process Automation - Finance Edition, Redwood Robotics, Redwood Finance Automation
 

Overview

 

Sample Customers

The Hanover Insurance Group
ArcelorMittal, Alliant Energy, Allianz, Arla, Bacardi, CPS Energy, DSM, Faurecia, Genetech, Jabil, Jumbo,
Find out what your peers are saying about IBM Robotic Process Automation (RPA) vs. Redwood Software - Finance Automation Edition and other solutions. Updated: October 2024.
816,406 professionals have used our research since 2012.