Automate Record To Report For Faster, More Reliable Processes

Close books faster without stress or manual effort. Make your month-end close a non-event with cloud-based R2R automation.

Many of our reconciliation processes were transformed, from tasks that took several hours to automated activities that now take just minutes. This is a significant saving for our company.

Brian Thomsen, Finance Director, Arla Foods

Streamline Your Record To Report Processes

Meet reporting deadlines and improve forecasting with accurate, timely financial information. Our automated record to report (R2R) process orchestrates all activities across the entire R2R life cycle, so you can manage and perform with confidence.

  • End Close Checklist: combine reconciliations, journals, intercompany and more into a single automated environment
  • Balance Sheet Reconciliation: Eliminate manual preparation and minimize errors with Auto-Certify for smarter reconciliation
  • General Ledgers: Integrate with key business systems to fully automate your journal entry processes including provisions, accruals, reserves and more
  • Intercompany Accounting: Automatically identify counterparties, calculate differences in any currency and post system-generated account reconciliation entries
Plug the Automation Gap

Reduce unnecessary manual work across R2R and allow your staff to focus on strategic analysis and financial planning.

Drag and Drop Tasks

Kick start your automation by choosing from a catalog of automated closing tasks. Or easily create your own.

Prioritize Process Areas

Don’t try to eat the elephant. Start with one process and expand at your own pace: Journal Entry, Balance Sheet, Intercompany or Close Checklist.

Benefit From Intelligent Integration

Maximize the investment in both your ERP and other non-ERP business applications. Orchestrate across your processes to reduce the manual burden.

Automate Any Financial Close Process

Easily assemble end-to-end processes with Redwood’s drag-and-drop workflow designer. Incorporate disparate tools including robotic process automation (RPA), intelligent automation, ERP and non-ERP applications through a catalog of pre-built closing cycle tasks — or build your own reusable actions.

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 stakeholders 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

Ensure Governance And Security

  • 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, business units, financial systems and applications
  • Manage the complete DevOps lifecycle with version control, cross-environment deployment and integration with key platforms (GitHub)
  • 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

Digital Transformation For Financial Reporting

Frequently Asked Questions

How does record to report automation integrate with SAP?

Our product seamlessly operates within the SAP environment, offering real-time data handling capabilities. It is engineered to effortlessly extract and process data, facilitating automatic calculations and streamlining approval processes. Leveraging easy-to-configure components, it integrates with your finance system using standard ERP functionality. This ensures direct posting of accounting and other records in SAP, eliminating redundancy and enhancing data integrity. Our approach guarantees efficient workflow and compliance, fully utilizing the SAP framework.

What deployment options does record to report automation offer?

Flexible deployment, available both on-premises and in the cloud, to meet your specific needs.

How does automation affect the financial close process?

Automation significantly accelerates tasks to deliver a touchless close, reduce manual errors and free up time for strategic analysis.

Can the solution handle complex intercompany transactions?

Yes, record to report automation efficiently manages and creates intercompany transactions directly in the underlying ERP, ensuring the transactions are automatically eliminated on reconciliation, thereby increasing accuracy and compliance.

How does the solution ensure data security and compliance?

By following strict security rules to ensure compliance by respecting SAP's security model when automating processes.

What about financial closing tasks outside the ERP?

Yes, the solution goes beyond ERP systems, handling many tasks usually done manually outside ERP.

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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