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FloQast vs Redwood Software - Finance Automation Edition comparison

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Comparison Buyer's Guide

Executive Summary

Review summaries and opinions

We asked business professionals to review the solutions they use. Here are some excerpts of what they said:
 

Categories and Ranking

FloQast
Ranking in Financial Close Software
5th
Average Rating
8.0
Number of Reviews
3
Ranking in other categories
No ranking in other categories
Redwood Software - Finance ...
Ranking in Financial Close Software
15th
Average Rating
9.0
Reviews Sentiment
7.5
Number of Reviews
3
Ranking in other categories
Robotic Process Automation (RPA) (27th)
 

Mindshare comparison

As of October 2026, in the Financial Close Software category, the mindshare of FloQast is 3.4%, down from 4.9% compared to the previous year. The mindshare of Redwood Software - Finance Automation Edition is 3.0%, up from 2.5% compared to the previous year. It is calculated based on PeerSpot user engagement data.
Financial Close Software Mindshare Distribution
ProductMindshare (%)
FloQast3.4%
Redwood Software - Finance Automation Edition3.0%
Other93.6%
Financial Close Software
 

Featured Reviews

Jusitn Jusitn - PeerSpot reviewer
Senior Accountant
Month-end close has become faster and team now focuses on higher-value reconciliation work
FloQast has positively impacted our organization by decreasing our month-end close time from 10 days to five days. The reduction in close time has affected my team and the organization overall by making things a lot more clear and streamlined. Our preparer can log in at the beginning of the day, see what is on their to-do list, what is high priority, and at the higher level, it allows us to focus on our value-add tasks and not focus so much on the rudimentary administrative month-end close task of compiling checklists and compiling support, as FloQast more or less automates all that for us.
RC
Enterprise Architect at a consultancy with 10,001+ employees
Single bot now replaces five associates who previously handled finance processes and eliminates manual errors
Everything seems to be working well. However, I see value in integrating AI for automation. So, I would like to see AI integration for automation in future releases. Ideally, after I perform postings, I would like to leverage a generative AI model. This would allow me to type a query or question directly to the bot, and it would retrieve the information I need. For example, I could ask for the number of invoices, the status of specific invoices, or any other relevant data. Currently, we achieve this by building our own Finance model. So, integrating a pre-built finance model with the tool would be much easier and more efficient for reporting purposes. We're looking at several potential uses for this AI model. It could empower various user groups, including regular finance executives, customers, and even vendors to submit queries. Additionally, our leadership team is interested in using the AI model to generate reports directly on the Redwood dashboard. This functionality could potentially replace the need for BSpoke Solutions and the manual generation of BSpoke reports, streamlining the entire reporting process.

Quotes from Members

We asked business professionals to review the solutions they use. Here are some excerpts of what they said:
 

Pros

"The month-end close came down from seven to five days since we implemented FloQast and everybody started using it."
"FloQast has positively impacted my organization by helping our month-end close be more streamlined, and at my previous company, it helped us go from a 15-day close to a 10-day close and then a 6-day close."
"FloQast has positively impacted our organization by decreasing our month-end close time from 10 days to five days."
"Redwood has a great feature where it logs every transaction. So, at any point, we can see every step taken for each transaction. It creates an audit trail of the entire process execution. It is a really good feature. This eliminates the need for extra coding or report generation. The audit report is readily available within the tool itself."
"The out-of-the-box finance modules within the Redwood Finance framework help to speed up the process, versus designing and writing generic BOT code."
"So the best thing is ease of use."
"Unlike other automation tools, Redwood has a unique space in finance automation, where standard SAP modules are used for automating every step in the process, quickly and easily."
 

Cons

"FloQast can be improved regarding the data from reconciliation itself. It takes a minute or some time to pull the data from the reconciliation using the hashtag, and that can be improved."
"FloQast could be improved with more robust automations, meaning if a reviewer marks it reviewed in the support, that could be reflected in FloQast as well, and vice versa."
"This is where the real challenge is, having a licensing cost that needs to be compared with the existing manual operational cost and coming up with a competitive licensing and pricing model."
"The room for balancing improvement lies in automation enhancement with respect to the feature areas, considering dealing directly with Excel and reviewing it to do some additional stuff for it in the end system so that reading the right thing, picking up the values, and everything."
"would like to see AI integration for automation in future releases. Post-automation, I envision a generative AI model. If I could ask the bot questions like the number of invoices or their current status, it should be able to provide answers directly."
"Mapping the process steps to an existing R2R process quickly would be a definite step forward."
 

Pricing and Cost Advice

Information not available
"The licensing was purely based on the number of transactions being processed in production."
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Top Industries

By visitors reading reviews
Financial Services Firm
14%
Comms Service Provider
11%
Computer Software Company
8%
Construction Company
8%
Manufacturing Company
15%
Outsourcing Company
14%
Construction Company
11%
Performing Arts
8%
 

Company Size

By reviewers
Large Enterprise
Midsize Enterprise
Small Business
No data available
No data available
 

Questions from the Community

What needs improvement with FloQast?
FloQast can be improved regarding the data from reconciliation itself. It takes a minute or some time to pull the data from the reconciliation using the hashtag, and that can be improved. I feel th...
What is your primary use case for FloQast?
My main use case for FloQast is to streamline my close checklist and reconcile all the balance sheet accounts. I use FloQast to streamline my close checklist and reconciling accounts. It contains a...
What advice do you have for others considering FloQast?
I chose a rating of seven out of ten because FloQast is a pretty good system. There are some things that can make it a nine or ten. Regarding FloQast's AI capabilities, I think it is a pretty secur...
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Also Known As

No data available
Redwood Business Process Automation - Finance Edition, Redwood Robotics, Redwood Finance Automation
 

Overview

 

Sample Customers

Camp Gladiator, Ruckus Wireless, Proctor U, Redbuilt, Talen Energy
ArcelorMittal, Alliant Energy, Allianz, Arla, Bacardi, CPS Energy, DSM, Faurecia, Genetech, Jabil, Jumbo,
Find out what your peers are saying about FloQast vs. Redwood Software - Finance Automation Edition and other solutions. Updated: September 2026.
917,433 professionals have used our research since 2012.