Financial reporting automation to improve productivity

Fully automate and optimize over 80% of manual processes related to reconciliation, consolidation and other financial tasks and discover how automation can do away with the majority of manual data entry across your accounting systems.

Eliminate human error from your financial reporting process

  • Automate your finance department

  • Orchestrate across silos

  • No-code automation for finance functions

  • Support and services

Automate your finance department

Meet reporting requirements with automated solutions, resolve discrepancies and maintain audit trails to ensure regulatory compliance with GAAP and IFRS. Gain centralized control and monitoring with functionality across all financial processes.

  • Record to Report (R2R): Automate journal entries, balance sheets, expense reports, financial close checklist, intercompany eliminations and more.
  • Asset accounting: Automate asset acquisition, reconciliation and depreciation and more for accurate, reliable decision making.

Orchestrate across silos

Orchestrate across ERP systems, data warehouses, business applications and other reporting software. Automate end-to-end close processes across the enterprise regardless of technology or provider (SAP, Oracle, Microsoft, Workday, Infor).

  • Business processes: Orchestrate ERP, financial data, real-time dashboards, CRM, business intelligence, accounting software and more
  • Managed file transfers: Enable finance teams to securely move, copy and manage financial information internally or externally
  • Data sources: Coordinate resources and data sets in hybrid environments, automate virtualization and run common ETL task
  • Hybrid IT: Coordinate finance and IT processes to ensure timely completion of key workloads, eliminating bottlenecks and workflow delays

We really looked at whether a task could be automated and targeted the low-hanging, easily-picked fruit and automated it as quickly as possible.

Azhar Imam, Finance Manager & R2R Process Owner, Ashland

No-code automation for finance functions

Redwood makes it easy for finance professionals and other stakeholders to automate and manage processes without opening IT tickets. Customize reusable templates or optimize month-end processes with an intuitive drag-and-drop interface.

  • Run processes in response to real-time events, files, data or messages for time-critical applications
  • Add customizable preconditions and branching paths based on status to build exception-handling into your processes
  • Schedule across multiple time zones and daylight savings rules, create patterns from any dates or time windows or use perpetual calendars that don’t require updating
  • Guarantee performance of reporting processes with predictive SLA monitoring, alerts and notifications through SMS, email, apps and more

Support and services

  • 24×5 support: Redwood’s in-house automation experts provide 24×5 support for all issues as well as 24×7 SEV-1 support and are ready to assist and resolve issues quickly
  • Migration and onboarding: Our team members ensure a smooth, safe and fast transition using a proven methodology that streamlines migration
  • Consulting and services: We can help implement best practices, perform health checks and advise on how to boost your ROI
  • Redwood University: Develop and extend your skills and expertise with on-demand training that matches your role and level of experience

Impress your CFO with faster financial management reporting

Financial reporting FAQs

Can financial reporting be automated?

Yes, financial reporting can be automated with automation software such as Redwood. Redwood Finance Automation enables users to automate, monitor and manage almost any task involved in accounting cycles, journal entry, financial statements and more. Financial automation tools can integrate with major ERP platforms as well as other business applications and systems that contain key data.

Learn more about the touchless close and how to transform your month-end reporting stress into strategic success.

What is financial process automation?

Financial process automation refers to the tools and practices used to automate tasks within finance. Common automated financial processes include journal entry, bank reconciliation, invoice processing and asset acquisition. Financial process automation tools such as Redwood integrate with ERPs and business applications to seamlessly manage financial data across the enterprise.

Discover how you can eliminate manual processes and orchestrate your finance and accounting processes with Redwood.

Can I use Redwood to automate financial reporting?

Yes, Redwood Finance Automation is a SaaS solution that organizations can use to automate complex, time-consuming finance and accounting processes. Users can manage, monitor and audit every status and approval across ERPs, business applications and even Excel with ready-to-use connectors and templated processes. Automate financial reporting, eliminate spreadsheets and gain control over close checklists.

See how Redwood’s finance automation reduces that unnecessary and time-consuming manual effort.