An explanation of the ways finance automation can improve visibility, accuracy and reduce manual effort in journal entry
Eliminate the burden of this manual and high-volume process to accelerate the close. With Redwood, you can automate up to 100% of closing journals related to provisions, accruals and reserves. Free your finance team to focus more on analysis and forward-looking activities.
1. Save valuable time by minimizing manual intervention.
2. Benchmark your journal entry process, identify bottlenecks and inefficiencies.
3. Prevent errors and eliminate fraud.
With Redwood, Faurecia was able to successfully automate 32,0000 global manual journal entries per month and onboard 1,300 end users from both the controlling and GBS teams. 80% of journal entries are now automated, leaving only human review and approvals tasks.
Christophe MacGarry, Global Finance Transformation Director, Faurecia
Eliminate the manual burden of journal entry and accelerate your close. Redwood journal processing allows companies to overcome the challenges of disparate systems, missing or incomplete supporting documentation and unreliable approval processes.
Use our extensive process libraries and leverage deeply embedded access to underlying ERP and non-ERP systems.
Reduce journal errors with pre-configured journal templates and pre-validation of ERP posting codes and journal integrity.
Automate retention of journal vouchers, supporting documentation and approvals, eliminating need for paper based and manual archiving processes.