Top 8 Financial Close Software Tools
BoardRedwood Business Process Automation - Finance EditionOracle Enterprise Performance Management CloudBlackLineCCH TagetikIBM Cognos ControllerHubbleWorkiva Wdesk
It is very easy to use. It has got what they call a toolkit, which is a no-code development environment. You can develop a whole solution with it because it is a complete platform. There is a lot of online material that can be used as a reference. You can help yourself while developing a solution. There are some prebuilt applications in the platform environment. You can very easily customize and integrate these applications. It also has flexible scaling of machine resources, which is really great.
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.
The initial setup is pretty straightforward.
Has an APM, which deals with the details of data and has calculation functions included.
If there's already a scheduled report and we want a subset of that report, that can also be created. So we do not have to schedule a new report or create a new subscription for that. At this rate, we can create a subset out of one report itself.
The most valuable features are both its budgeting and forecasting.