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Redwood Software - Finance Automation Edition vs Tungsten RPA comparison

 

Comparison Buyer's Guide

Executive Summary
 

Categories and Ranking

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)
Tungsten RPA
Ranking in Robotic Process Automation (RPA)
11th
Average Rating
7.4
Number of Reviews
26
Ranking in other categories
No ranking in other categories
 

Mindshare comparison

As of November 2024, in the Robotic Process Automation (RPA) category, the mindshare of Redwood Software - Finance Automation Edition is 0.4%, up from 0.3% compared to the previous year. The mindshare of Tungsten RPA is 2.2%, up from 2.2% compared to the previous year. It is calculated based on PeerSpot user engagement data.
Robotic Process Automation (RPA)
 

Featured Reviews

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.
Jamil Milhem - PeerSpot reviewer
Automates browsing tasks without needing a server connection
I have worked with Microsoft Power Platform and UiPath. Kofax RPA offers a comprehensive solution with built-in capabilities for executing tasks like running Excel files and web automation without additional servers. They provide their browsers and extensions. For functions such as OCR, image processing, and data extraction, Kofax has built-in features powered by their engine, eliminating the need for subscriptions to external technologies like Microsoft Cognitive Services or Google Search. One of Kofax RPA's strongest features is its on-premise solution, which is particularly beneficial for organizations operating in regions with data regulations, such as the UAE.

Quotes from Members

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

Pros

"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."
"The pricing of the solution is quite good."
"Initially, the most effective features for process automation were website automation related to web auditing, SharePoint implementations, and automated management of information."
"The features that we have found the most valuable are the integration of different third-party support and productivity services."
"It is very simple and easy to learn compared to any other RPA tools such as UiPath, Automation Anywhere and Blue Prism."
"The flexibility to use already-developed components is really good. You can use it for Excel-related operations and other things."
"The ability to script information from websites is most valuable. It also seems to be fairly robust and reasonably easy to manage on a server-based deployment. We have a number of robots operating on the central server."
"The best part of Kofax is that they have a whole concept. It's one product, but also has extra elements that can be integrated."
"The solution is scalable."
 

Cons

"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."
"I would like to see them further enhance the OCR, specifically in the multi-language support."
"The scalability has room for improvement."
"I'd like to see a recording function and a more simple interface."
"We've faced a few challenges with Tungsten RPA. One issue I recall was with sending emails that needed multiple attachments. At the time, the feature only allowed attaching one file at a time. We discussed this with Tungsten RPA, and they planned to add multi-attachment capability to their backlog. I'm not sure if it's been upgraded since then. The solution's desktop automation is tricker."
"The solution could use some AI integrated features."
"Automating systems based on Citrix, where using AI or OCR-based capture of a screen, presents challenges."
"Kofax RPA could improve web-based automation and there should be a choice of what browser we can use, such as Google Chrome, instead of an inbuilt browser from Kofax RPA. Additionally, Kofax RPA is missing an orchestrator that other solutions have, such as UiPath."
"Automation with the latest websites is not effective. The support of newer websites developed using new technologies would improve this solution."
 

Pricing and Cost Advice

"The licensing was purely based on the number of transactions being processed in production."
"Kofax RPA's licensing costs are yearly and expensive."
"There is a standard license needed to use Kofax RPA and the price is reasonable."
"I give the price of the solution a six out of ten."
"The pricing model for automation solutions like Automation Anywhere, UiPath, and Microsoft Power Platform is subscription-based, where costs are calculated based on factors such as the number of hours used and the scale of automation required.......With Kofax, you purchase a license upfront, and that's all you need. You can create as many automation workflows as you require without additional costs for individual use cases."
"The solution’s license is not expensive."
"Price is not a problem, because they are a competitor and we have a special rate."
"Its pricing is reasonable given the product capabilities. Kofax has a wide range of products, and it can sometimes be confusing to understand which capabilities come with which product set. One of the key facets that we've been looking into recently is cognitive document recognition that was a core pile of some of their other technologies such as Kofax transformation modules (KTM)."
"The cost depends on the number of licenses and the number of RPAs."
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Top Industries

By visitors reading reviews
Financial Services Firm
18%
Computer Software Company
10%
Energy/Utilities Company
10%
Manufacturing Company
9%
Financial Services Firm
16%
Computer Software Company
12%
Manufacturing Company
9%
Insurance Company
6%
 

Company Size

By reviewers
Large Enterprise
Midsize Enterprise
Small Business
No data available
 

Questions from the Community

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...
What do you like most about Kofax RPA?
You can automate browsing tasks without needing a server connection. The platform provides its browser, allowing you to run anything inside it.
What is your experience regarding pricing and costs for Kofax RPA?
Previously, Tungsten RPA offered perpetual licenses, but now it has a subscription-based model for more flexibility, similar to the Microsoft developer platform.
What needs improvement with Kofax RPA?
We've faced a few challenges with Tungsten RPA. One issue I recall was with sending emails that needed multiple attachments. At the time, the feature only allowed attaching one file at a time. We d...
 

Also Known As

Redwood Business Process Automation - Finance Edition, Redwood Robotics, Redwood Finance Automation
Kofax RPA, Kofax Kapow, Kapow
 

Overview

 

Sample Customers

ArcelorMittal, Alliant Energy, Allianz, Arla, Bacardi, CPS Energy, DSM, Faurecia, Genetech, Jabil, Jumbo,
Aetna, BNP Paribas, Citi, Goldman Sachs, HSBC, ING, Aviva, Humana, Willis, Merck, University Hospitals, CardinalHealth, American Red Cross, Alegri, Capita
Find out what your peers are saying about Redwood Software - Finance Automation Edition vs. Tungsten RPA and other solutions. Updated: October 2024.
816,406 professionals have used our research since 2012.