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Planful vs Redwood Software - Finance Automation Edition comparison

 

Comparison Buyer's Guide

Executive Summary

Review summaries and opinions

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

Categories and Ranking

Planful
Ranking in Financial Close Software
19th
Average Rating
8.0
Reviews Sentiment
6.9
Number of Reviews
2
Ranking in other categories
Business Performance Management (16th)
Redwood Software - Finance ...
Ranking in Financial Close Software
10th
Average Rating
9.0
Reviews Sentiment
7.5
Number of Reviews
3
Ranking in other categories
Robotic Process Automation (RPA) (15th)
 

Mindshare comparison

As of April 2025, in the Financial Close Software category, the mindshare of Planful is 1.0%, down from 2.1% compared to the previous year. The mindshare of Redwood Software - Finance Automation Edition is 2.1%, up from 1.7% compared to the previous year. It is calculated based on PeerSpot user engagement data.
Financial Close Software
 

Featured Reviews

reviewer1110591 - PeerSpot reviewer
It has helped us speed up the turnaround time on our consolidation, and we haven't had anything come up that the program has not been able to solve
The part that we liked about Excel is that it had a better interface in terms of just graphical illustration of our results. So, if we wanted to look at our financial trends and put it into some type of graphical interface for people to look at, we still have to leverage Excel for that. The dashboards aren't as usable as maybe some of the other solutions, such as Tableau or other BI tools. The application that we use today for our BI tools is Tableau. That's how people absorb information. We don't really use the functionality or dashboards within Planful because of the robustness of Tableau. That's our single source of data. If Planful was better or more comparable in terms of features and functionality, we could probably leverage that in Planful.
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

"It has helped us speed up the turnaround time on our consolidation. We don't have to do reporting in Excel anymore, which has cut down on the errors and the efficiency of our close time."
"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 part that we liked about Excel is that it had a better interface in terms of just graphical illustration of our results. So, if we wanted to look at our financial trends and put it into some type of graphical interface for people to look at, we still have to leverage Excel for that. The dashboards aren't as usable as maybe some of the other solutions, such as Tableau or other BI tools."
"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

"Right now, everything is on a three-year term contract, and that is our main cost."
"The licensing was purely based on the number of transactions being processed in production."
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847,625 professionals have used our research since 2012.
 

Top Industries

By visitors reading reviews
Computer Software Company
18%
Financial Services Firm
9%
Manufacturing Company
8%
Healthcare Company
7%
Financial Services Firm
18%
Computer Software Company
12%
Manufacturing Company
10%
Insurance Company
6%
 

Company Size

By reviewers
Large Enterprise
Midsize Enterprise
Small Business
No data available
No data available
 

Questions from the Community

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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

Host Analytics
Redwood Business Process Automation - Finance Edition, Redwood Robotics, Redwood Finance Automation
 

Overview

 

Sample Customers

Tandem Diabetes Care, Reed Exhibitions, SkyGolf, Zep Inc., Thule, Stylesight, Schumacher Group, Parsons Electric, Nextag, Groupon
ArcelorMittal, Alliant Energy, Allianz, Arla, Bacardi, CPS Energy, DSM, Faurecia, Genetech, Jabil, Jumbo,
Find out what your peers are saying about Planful vs. Redwood Software - Finance Automation Edition and other solutions. Updated: March 2025.
847,625 professionals have used our research since 2012.