Automate Your Financial Close Checklist With Accounting Software From Redwood
Make your period-end a non-event. Streamline, monitor and execute hundreds of tasks autonomously across your close process.
Close Checklist That's Truly Automated
Redwood’s cloud-based solution combines all close activities, such as reconciliations, general ledger and intercompany, into a single automated environment. It allows the creation of a single repository that connects all the tasks, underlying ERP and business systems and people involved in the process.
Finance stakeholders across the organization can now have immediate visibility of issues, tasks and bottlenecks that need escalation and remediation. Users can collaborate more easily and resources can be deployed more efficiently. This leads to productivity gains, cost savings, reduced cycle times and an accelerated monthly close.
Automated Close Checklist
Choose from our catalog of pre-automated financial tasks (Journal Entry, Balance Sheet Certification, Intercompany, Close Checklist Automation and more) and benefit from our deep integration with SAP, Oracle and other ERPs and business applications such as Quickbooks.
- Schedule any task with granular time/date options or trigger tasks based on dependencies
- Copy standardized tasks across entities/regions for easy set-up and maintenance
- Use a centralized dashboard to track period close status and progress by company, region, area, close milestones and more
- Simplify checklist creation and maintenance by automatically managing attributes and providing flexible workflow with multiple levels of approvals and notifications
81% of senior finance professionals say opportunities for process standardization and automation are the main driver for replacing their current system
Automate Across Finance
Easily assemble and seamlessly link process elements with approvals and review cycles. Automatically write results to and from your underlying financial systems and easily close and edit entire processes.
- Accelerate process development with our ever-growing list of pre-automated tasks that work with any ERP system and common business apps
- Manage and coordinate complex processes and dependencies without manual intervention
- Integrate key business systems and applications with fully supported and maintained connections
- Automate key finance processes including accounts receivable/payable, account reconciliation, depreciation and more
Monitor Progress in Real Time
- View real-time status overviews and visual progress of every business process end-to-end in a single pane of glass
- Empower and inform business users with built-in BPM and clear dashboards for faster decision-making
- Receive predictive SLA notifications before processes miss deadlines, enabling resolution before issues impact performance
With Redwood’s automated checklist orchestration, we were able to achieve our target of a one day close with improved compliance and visibility
Ensure Governance And Security
- Synchronize with LDAP or ERP to maintain integrity of roles and access throughout your accounting system
- Establish comprehensive audit trails with automatic logging of all process and user actions
- Enforce granular data, validation and access policies, including SSO/SAML 2.0+, and logically isolate departments, applications or business units
- Redwood Finance Automation is ISO 27001, SOC 2 and CSA STAR Level 1 certified and third-party pen-tested so you can meet regulatory requirements
Other Pillars of the Financial Close
Restore Control To The Finance Function
Frequently Asked Questions
What is close checklist?
A close checklist provides a list of tasks and items to be completed before a transaction can be closed. Checklists can allocate tasks to stakeholders and are often updated to provide visibility to involved parties. Close checklist software enables financial teams to automate many close checklist tasks, eliminating manual steps and preventing common errors. See what you can achieve with Redwood.
What is financial close management software?
Financial close management software enables users to monitor and execute critical tasks without manual intervention. Financial close management software can also provide real-time monitoring, ERP and non-ERP integrations, reusable templates and more. Users can automate journal entry tasks, analyze cash flow, automate intercompany tasks and much more, eliminating time-consuming manual tasks. See what you can achieve with Redwood.
Does Redwood support close checklists?
Yes, Redwood Financial Automation enables users to orchestrate, monitor and execute hundreds of tasks autonomously across financial operations. Users can easily automate month-end close processes, year-end closing, financial statements and much more. Deliver reports faster faster and accelerate your end of the month close process without complex pricing requirements. See what you can achieve with Redwood.
See Redwood Finance Automation In Action
Redwood Finance Automation delivers robust and dependable journal processing with automated controls that eliminate human errors and work faultlessly every time. Our automated journal processing helps companies overcome the challenges of disparate systems, missing or incomplete supporting documentation and unreliable approval processes. Eliminate time-consuming manual efforts, increase confidence and gain control over your financial processes.
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