Execute and manage your entire asset management process in a more controlled manner with Redwood’s cloud-based finance & accounting automation solution.
Asset acquisition typically requires multiple touchpoints, approvals and the entry of different types of information across various applications. Our pre-built automated process activities allow you to connect to the underlying disconnected ERP or asset management applications. These streamline the many steps needed and ensure an accurate position of assets on your balance sheet.
Ready-to-use processes perform asset accounting activities within different applications, including Microsoft Excel and Word, with built-in workflow for acquiring the necessary approvals. Once asset acquisition is approved, Redwood’s cloud-based finance automation solution can create the necessary master data and enter records into the underlying ERP or asset management applications. Our finance automation also executes the necessary reconciliation and depreciation as part of the closing cycle.
A global car component manufacturer faced significant challenges with its asset accounting process, which consumed significant resources in its shared services center, finance team and factories. The organization had to go through the asset creation process thousands of times per year, across multiple countries, entities and business units. With Redwood’s cloud-based finance automation solution, the company eliminated 90% of the manual effort involved in this process.
Learn more about how Redwood can help take away your asset accounting pain and keep your assets working for you.
Cut unnecessary manual effort, improve business processes and free your staff to deliver more value with Redwood’s finance automation solution. Get started with our ready-to-use process activities. Or build your own custom automated processes tailored to your specific needs.