Standardize journal entry creation while automatically managing approvals, calculations, validations and ERP postings.
Automatically populate journal entry templates instead of time-consuming manual data entry, saving time and enhancing accuracy.
Centralize journal entries for better transparency to your finance teams for your month-end close and ensure compliance monitoring and control.
Configure real-time rule-based approval workflows based on multiple parameters like accounts, cost centers and values.
Automatically post approved entries to ERP with no manual work, maintaining full audit trails.
Automatically post approved entries to ERP with no manual work, maintaining full audit trails.
With Redwood, Faurecia was able to successfully automate 32,000 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.
Automatically populate journal entry templates from various sources instead of spreadsheet-based data entry.
Configure approval rules and matrices based on accounts, cost centers, transaction categories and values.
Validate entries against the ERP chart of accounts and other codes before posting.
Once approved, automatically post entries to ERP with no manual work.
Maintain full audit trails with all supporting documents and approvals stored.
Our satisfied customers include major global corporations, showcasing the trust and reliability of journal entry automation by Redwood for their financial close processes.
52% of finance professionals believe they spend too much time on transaction processing
FSN Research “The Future of the Finance Function”
Journal entry solutions for automation accelerate closing by reducing manual work, improving accuracy and allowing faster transaction processing.
Redwood provides template population, rule-based approvals, pre-ERP validations and audit trails for end-to-end automation.
Yes, all journal types, including complex accruals, provisions and calculations.
Centralization increases transparency, consistency and ease of monitoring and auditing for enhanced governance.
Minimal work remains for exception-based review before automated posting to ERP systems.
Yes, the solution integrates seamlessly with supplementary tasks like supporting calculations for true end-to-end automation.
Our solution seamlessly integrates with SAP and other general ledger systems, facilitating direct posting of journal entries and ensuring the integrity of financial statements. This integration streamlines accounting processes and enhances data accuracy across your accounting team.
Absolutely. Our platform automates and streamlines approval processes, enforcing rule-based validations before transactions are posted. This not only speeds up the financial close but also ensures compliance and accuracy in financial reporting.
By automating the entry and validation of transactions, our solution significantly reduces errors, ensuring that financial statements reflect true and accurate financial health. This automation supports accounting teams in delivering timely and reliable reports.
Journal entry automation eliminates repetitive manual data entry, enabling accounting teams to focus on more strategic tasks. This efficiency gain is crucial for accelerating the financial close process and ensuring timely decision-making.
Our solution centralizes journal entry management, providing a transparent and consistent process that is easy to monitor and audit. This centralization is key to maintaining high standards of governance and compliance within your financial operations.
Transform your close checklist with a system that streamlines tasks, enhancing systematic progression and minimizing errors.
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