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Redwood Software - Finance Automation Edition vs WorkFusion 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)
WorkFusion
Ranking in Robotic Process Automation (RPA)
14th
Average Rating
7.8
Number of Reviews
30
Ranking in other categories
Process Automation (19th), Intelligent Document Processing (IDP) (8th)
 

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 WorkFusion is 1.6%, up from 1.5% compared to the previous year. It is calculated based on PeerSpot user engagement data.
Robotic Process Automation (RPA)
 

Featured Reviews

Amarjeet Kamble - PeerSpot reviewer
Oct 4, 2023
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.
Brock Miller - PeerSpot reviewer
Sep 13, 2023
Helps improve our accuracy and compliance, but the analytics module can be confusing
Machine learning models for document-heavy processes have room for improvement because they require significant effort to train and update. WorkFusion can be easy to use for non-technical people. It has two modules: a workspace for analysts to use on a daily basis, and an analytics module for tracking throughput, recall, precision, and other model metrics. The workspace is very easy to use, similar to any other case management tool. The analytics module, on the other hand, can be confusing at times and could benefit from some improvements. The biggest challenge I've had with WorkFusion is employee turnover. On both of my projects with them, the primary developer, the PMO, and some of the product SMEs have all turned over. There's been a lot of turnover in their organization over the past two years.

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."
"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."
"WorkFusion's RPA Express's ability to scale across multiple geographies with limited impact on additional IT Hardware requirements. This has enabled the scaling of Robotics capabilities and solutions across all our entities."
"It takes care of simple tasks so users can focus more on exceptions than on regular use cases. They only focus on orders where they need to handle an exception, some information was not given, or there is an issue that they had to focus on. The rest of it goes straight through without human touch. We want to see our employees as engineers, wherein they think and solve problems, not necessarily have to do repetitive tasks. I think WorkFusion helps with avoiding repetitive tasks."
"WorkFusion's SAP integrations are really good."
"We can see that its competitive ability is quite good."
"Their robots have increased the rate of efficiency by two to five times in our organization. There is still a human element to code out the package running the robots. You can't just click something and have it run. However, once that has been done, you can parallelize it 10 or 100 times in a fairly straightforward manner."
"WorkFusion helps by speeding up processes. The process takes time. It has business costs associated because there are people waiting to take the next steps in the process. The end result of waiting, whether it is an internal or external team, is that they are delayed. Therefore, it helps us in speeding up business processes and improving employee morale, as people don't have to do repetitive work anymore."
"This solution has great document recognition capabilities."
"The most valuable features are the Excel activities. It has a number of Excel activities that are quite reliable."
 

Cons

"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."
"We have had some problems in the past with the Inspector tool that looks at the elements on the screen. Replacing it or improving it is needed."
"Because the data is coming from offline, paper-based invoices and sometimes from Excel, data accuracy is the main challenge... Sometimes, WorkFusion has lacked the functionality for extracting the right information from the invoices and we have had to manually correct the format."
"It is difficult for non-technical users to use WorkFusion. If we really want to build automation, we definitely need Java developers. Their RPA is not for non-technical people. If I look at competing products, like Automation Anywhere, UiPath, Blue Prism, or even Power Automate, a non-technical person can build basic automations and deploy them. Since non-technical people can easily build basic automations, they can be deployed in no time. With WorkFusion, there isn't a similar feature that works well. One needs to write code from scratch to build automation. That is definitely a deterrent if we really want to do quick, dirty automation. I would not rate WorkFusion very high on their no-code, low-code paradigm. In this area, I would definitely expect them to improve."
"The product could do more to expand its 'codeless' coding options by adding drag-and-drop assistance in building bots for non-technical users."
"If we're talking from a developer perspective, the task of actually building automation is not ideal. That's not their strong side."
"One of the issues that we are facing here in China, is that we cannot access the material for training because it is on YouTube. In China, we do not have access to YouTube."
"I would like it if they provided a more detailed roadmap in terms of where they are going with the product. As we are trying to make decisions about the things that we are going to do to try to augment our capabilities, we could know whether they are thinking about the same things or not."
"We have executed our robots thousands of times in our enterprise environment. However, in an enterprise environment, WorkFusion has performance problems. It is slow in production."
 

Pricing and Cost Advice

"The licensing was purely based on the number of transactions being processed in production."
"As a first-time customer who wants to engage with WorkFusion, not working for my company, then I would want to do a PoC. The cost is prohibitive because they will ask me to get infrastructure with six or seven servers. Then, you must buy a WorkFusion license to do a PoC, which is expensive. I would then have to set up a team to build the PoC and see the benefits. That is very prohibitive."
"The pricing is good. It can be adopted by small and mid-size organizations. It's not too high or low. It's quite flexible when compared to similar RPA tools in the market."
"One upgrade took a year to do, from the first server being built to the last bot being migrated. This was because we had to migrate all our existing bots. This is the same process and time frame that we are expecting towards the upcoming upgrade. I will end up spending half a million dollars to do an upgrade."
"My client is using RPA Express, which is available for them to use free of charge."
"Find it online."
"The solution was not the cheapest, but it was also not the most expensive. Workfusion was very open to negotiating pricing and to working within the objectives of our firm."
"We are on an annual contract to use the solution."
"In addition to the licensing fee, there is also an implementation cost for each use case and technical support costs."
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Top Industries

By visitors reading reviews
Financial Services Firm
17%
Energy/Utilities Company
11%
Computer Software Company
10%
Manufacturing Company
9%
Financial Services Firm
27%
Computer Software Company
15%
Government
6%
Manufacturing 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 WorkFusion?
If you compare it to its competitors in the market, it is more Java-native.
What is your experience regarding pricing and costs for WorkFusion?
Everything should be cheaper. However, it's fairly priced. They have a pricing scale. We've been with them for a while, so we've already hit the roof. We've been with them so long that they are ver...
What needs improvement with WorkFusion?
For non-technical users, it may be easy to use. It depends on what perspective we're talking about. From a business perspective, like manual tasks, it's good. However, it's all about what the devel...
 

Also Known As

Redwood Business Process Automation - Finance Edition, Redwood Robotics, Redwood Finance Automation
No data available
 

Overview

 

Sample Customers

ArcelorMittal, Alliant Energy, Allianz, Arla, Bacardi, CPS Energy, DSM, Faurecia, Genetech, Jabil, Jumbo,
Deutsche Bank, Amerant Bank, Bank of Asia, Scotiabank, Bank of Montreal, LPL Financial, Carter Bank & Trust, Selective Insurance, HPE, Canadian Tire, Standard Bank, Humana, New York-Presbyterian, Houston Methodist, Six Financial, State Street
Find out what your peers are saying about Redwood Software - Finance Automation Edition vs. WorkFusion and other solutions. Updated: October 2024.
815,854 professionals have used our research since 2012.