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What is Record-to-Report Automation by Redwood?

Every day, every quarter, and every year, the finance sector faces numerous tedious and repetitive manual tasks. Redwood's Finance Automation solutions leverage advanced automation technology on an industrial scale. This innovative technology empowers business users to create, implement, and manage transformative financial processes seamlessly. By utilizing Redwood Finance Automation, organizations enhance their efficiency, governance, and transparency in financial operations. Consequently, finance professionals can shift their focus from merely gathering data to extracting valuable insights from corporate reporting information. These solutions effectively underpin four essential pillars of finance processes: record to report, order to cash, procure to pay, and asset accounting. We provide automated solutions for the record to report pillar, which includes close checklists, reconciliations, journal entries, and intercompany transactions. Remarkably, Redwood can automate up to 85% of finance tasks that were previously executed manually, allowing organizations to operate more efficiently and with greater accuracy. This shift not only reduces workload but also enables finance teams to contribute more strategically to their businesses.

What is FloQast?

FloQast offers a revolutionary accounting platform that leverages artificial intelligence to automate and optimize the financial closing process. By seamlessly integrating with current tools, it significantly improves the efficiency of tasks such as account reconciliation, financial reporting, and audit procedures. The AI-driven agents assist accounting professionals in matching transactions and pinpointing inefficiencies, which empowers accountants to shift their focus from routine data preparation to higher-level strategic management. Furthermore, FloQast includes features for real-time collaboration and progress tracking, enabling accounting teams to provide quicker and more precise outcomes while minimizing operational challenges. This innovative approach ultimately transforms the way accounting teams function, paving the way for a more streamlined financial workflow.

Media

Media

Integrations Supported

Redwood Reporting
SAP BPC

Integrations Supported

Egnyte
Microsoft Dynamics 365
Microsoft Excel
Microsoft OneDrive
NetSuite
Oracle Fusion Cloud ERP
SAP ERP
Sage Intacct
Slack
Tray.ai
Workiva
Yardi Breeze

API Availability

API Availability

Pricing Information

Pricing not provided

Pricing Information

Pricing not provided
Free Trial Offered?

Supported Platforms

SaaS
Windows
Linux

Supported Platforms

SaaS

Customer Service / Support

24 Hour Support
Web-Based Support

Customer Service / Support

Standard Support
Web-Based Support

Training Options

Documentation Hub
Webinars
Online Training

Training Options

Documentation Hub
Webinars
Online Training
On-Site Training

Company Facts

Organization Name

Redwood Software

Date Founded

1992

Company Location

United States

Company Website

www.redwood.com/solutions/finance-automation/record-to-report/

Company Facts

Organization Name

FloQast

Date Founded

2013

Company Location

United States

Company Website

floqast.com

Categories and Features

Finance

Not specified

Financial Close

Not specified

Order-to-Cash

Not specified

Procure to Pay

Not specified

Categories and Features

Accounting

Bank Reconciliation
Multi-Currency
Nonprofits
Purchase Orders

AI Accounting

Not specified

AI Accounting Agents

Not specified

Business Performance Management

Ad Hoc Reports
Ad hoc Analysis
Dashboard
Key Performance Indicators
Strategic Planning

Financial Close

Not specified

Financial Reporting

Audit Trail
Balance Sheet
Consolidation / Roll-Up
General Ledger
Multi-Company
Multi-Department / Project

Medical Accounting

Not specified

Reconciliation

Not specified

Trucking Accounting

Not specified

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