Why manual journal entry is inefficient and error-prone

An explanation of the ways finance automation can improve visibility, accuracy and reduce manual effort in journal entry
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DITCH THE MANUAL

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.

Read the report and see how journal entry automation helps you:

  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

AUTOMATED JOURNAL ENTRY AND PROCESSING – WITH INTELLIGENCE

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.
FULLY AUTOMATE JOURNAL POSTINGS

Use our extensive process libraries and leverage deeply embedded access to underlying ERP and non-ERP systems.

ELIMINATE ERROR-PRONE JOURNAL ENTRY

Reduce journal errors with pre-configured journal templates and pre-validation of ERP posting codes and journal integrity.

GAIN A PERMANENT AUDIT TRAIL

Automate retention of journal vouchers, supporting documentation and approvals, eliminating need for paper based and manual archiving processes.