7 Best Record to Report Automation Software in 2025
In this blog, we explore some of the best Record to Report automation software such as Redwood, Blackline, Floqast, Trintech, Onestream etc., We will also discuss the features and benefits of each Record-to-report R2R Software to help you find the best fit for your organization.
Record-to-Report automation software is a type of financial software that automates the Record-to-report process, which involves gathering and consolidating financial data from various sources to produce accurate and timely financial reports.
This process is critical for businesses as it provides insights into their financial performance and helps them make informed decisions. Record to Report automation software simplifies this process by streamlining data collection, reconciliation, and consolidation, allowing businesses to save time and resources while ensuring accuracy and compliance.
So whether you are looking to switch from your current Record to Report automation software or exploring new options, read on to discover the top alternatives in the market. Let’s dive in!
Comparison of Top Record to Report Automation Software
Name | Logo | Best for | Deployment | Free trial | Link |
---|---|---|---|---|---|
Record to Report Automation by Redwood | ![]() | automating 90% of your R2R processes, including accruals, provisions and more | Cloud, SaaS, web-based, and on-premises. | ✅ | Learn more |
IBM | ![]() | managing and automating the financial close process | Cloud, SaaS, web-based, and on-premises. | ✅ | Learn more |
BlackLine | ![]() | simplifying finance and driving profitability. | Cloud, SaaS and Web-based. | ❌ | Learn more |
Planful | ![]() | cloud-based financial performance management platform. | Cloud and on-premise | ✅ | Learn more |
Wdesk by Workiva | ![]() | financial reporting, ESG, audit, and risk management | Cloud based, Linux, Windows and iOS. | ✅ | Learn more |
Prophix | ![]() | accounting processes | Cloud and on-premise | ✅ | Learn more |
Workday Adaptive Planning | ![]() | comprehensive financial software solution. | Cloud and on-premise | ✅ | Learn more |
What is record to report automation software?
Record to report (R2R) automation software is a type of technology that automates and streamlines the process of recording and reporting financial transactions. This includes activities such as data collection, account reconciliation, journal entries, and financial reporting. R2R automation software can help organizations save time and resources, reduce errors, increase efficiency, and improve the accuracy of financial data.
How does record to report automation software work?
Record to report automation software works by integrating with an organization’s existing accounting systems and data sources. It then automates the process of collecting and reconciling financial data, using rules and algorithms to identify any discrepancies or errors. This allows for faster and more accurate data processing, freeing up valuable time for accounting professionals to focus on analysis and decision-making.
What are the benefits of using record to report automation software?
There are several benefits of using record to report automation software, including:
- Increased accuracy: By automating the reconciliation process, organizations can minimize the risk of human error and ensure that financial data is accurate.
- Time savings: R2R automation software can significantly reduce the time it takes to complete record to report processes, allowing accounting professionals to focus on more value-added tasks.
- Cost savings: With increased efficiency and accuracy, organizations may see a reduction in costs associated with manual record to report processes.
- Compliance: Record to report automation software can help organizations ensure compliance with financial regulations and standards, reducing the risk of penalties or fines.
- Improved decision-making: With faster and more accurate data processing, organizations can have access to real-time financial information for better decision-making.
How is record to report automation software different from traditional methods?
Traditional record to report processes involve manual data collection and reconciliation, which can be time-consuming and prone to errors. Record to report automation software, on the other hand, uses advanced technology such as artificial intelligence and machine learning to automate these processes. This allows for faster data processing, increased accuracy, and more efficient workflows.
Additionally, record to report automation software often includes features such as customizable dashboards and real-time reporting capabilities that traditional methods may not have. This allows for better data analysis and decision-making.
Furthermore, record to report automation software can integrate with other systems and software used by the organization, creating a more streamlined and connected financial management process. This integration also reduces the risk of errors and discrepancies between different systems.
List of Top Record to Report Automation Software

#1. Record to Report Automation by Redwood
Best for automating 90% of your R2R processes, including accruals, provisions and more.

Redwood’s record-to-report finance automation software automates up to 90% of the manual tasks involved across the local entity closes, enabling a faster and more accurate R2R process. With comprehensive visibility into financial health, it facilitates informed accurate, timely and compliant reporting in the most efficient manner possible.
Seamlessly integrating with existing applications, Redwood streamlines financial reporting and saves valuable time. By empowering finance teams to focus on analysis and providing essential insights, Redwood drives business performance to new heights.
Features:
- Through application-based automation, you can experience improved reliability and control by establishing fully supported and maintained connections to your core applications and systems.
- With Redwood’s extensive array of pre-automated tasks, the configuration of processes is now faster and more convenient than ever before. The availability of ready-to-use components simplifies the entire process.
- With comprehensive orchestration, you can seamlessly manage and coordinate complex sub-processes across the entire close, automating their interdependencies effortlessly.
- Redwood’s team of experts is available to assist you in evaluating and choosing the optimal processes for the selection of your automation enhancements.
- You can easily and swiftly scale your automated processes to accommodate evolving requirements while effectively managing costs.
- Redwood’s pre-automated tasks are meticulously crafted to seamlessly integrate with ERP and non-ERP systems, ensuring compatibility with various business applications. This enables effortless process streamlining and a significant efficiency boost.
- Enable and educate business users with the capabilities of integrated BPM and highly informative dashboards, providing you with control at crucial junctures.
- Redwood offers built-in audit and controls feature that meticulously logs and tracks each step of the process, eliminating the need for manual intervention. Rest assured, everything is handled automatically and with utmost care.
- With managed file transfers, you gain the ability to securely move, copy, and manage files, including sensitive documents like bank statements, even in the face of unsecured networks and external endpoints.
- When it comes to data sources, you are covered across the entire enterprise. From CRM to ETL, cloud-native databases, and even artificial intelligence/machine learning.
- When it comes to security, Redwood’s platform can be trusted. It provides comprehensive coverage with ISO 27001, SOC 2, and CSA STAR Level 1 certifications. Additionally, it has undergone third-party penetration testing to ensure exceptional protection.
- At Redwood, the team of automation experts is committed to providing round-the-clock support, available 24 hours a day, 5 days a week. Furthermore, they offer 24/7 SEV-1 support to promptly address any issues that may arise.
- Redwood’s R2R automation solution provides an intuitive interface and a well-designed user experience, ensuring effortless usability. Extensive training is unnecessary as it is designed to be user-friendly, enabling a seamless start. Moreover, its exceptional user-friendliness is highly valued by all users.
Pricing: Contact Redwood for a demo and pricing.
#2. IBM Planning Analytics
Best for managing and automating the financial close process.

IBM Planning Analytics is an AI-infused integrated business planning solution that helps organizations streamline their financial close processes. It can be deployed both on-premises or on cloud, including as a service on AWS.
With IBM Planning Analytics, you can easily access data from multiple sources using an intuitive web interface or even good old Excel spreadsheets. Its powerful in-memory database lets you analyze big data in no time, giving you real-time insights.
With its analytics, budgeting, forecasting, and financial reporting capabilities, it helps organizations enhance their financial and operational planning processes. Built on the IBM Cognos Analytics platform, it’s designed to make planning easier and more efficient.
Features:
- Embedded AI: Built-in AI has got you covered with advanced forecasting capabilities and upcoming Gen AI enhancements that take accuracy and predictive insights to the next level.
- Intuitive web interface: It’s packed with powerful data visualization capabilities and has advanced planning and forecasting functionalities.
- Analytics: When you analyze large amounts of data, you’re able to spot trends and patterns that can help you make informed decisions.
- Budgeting and forecasting: Develop complex financial models and generate accurate projections to support informed decision-making and drive business success.
- Built-in Financial reporting: You can effortlessly generate, customize, and share insightful reports and visualizations. No need to export data to other tools – everything can be done within the platform.
- Collaboration and data sharing: Multiple users can easily access and collaborate on the same data and models.
- Familiar Excel interface: Get all the spreadsheet functionality you need, plus the added benefit of governance and control. Any adjustments you make can be applied in real-time to all views.
Pricing:
The pricing for IBM Planning Analytics depends on the number of users and the type of license you need. They offer different plans to choose from.
- Explorer: $70 per user per month
- User: $150 per user per month
- Modeler: $225 per user per month
#3. BlackLine
Best for simplifying finance and driving profitability.

BlackLine is a unified cloud for Finance and Accounting automation platform. It brings all your accounting data and processes together, automates those repetitive tasks, and gives your team the power to stay ahead of the numbers and drive your business forward.
This modern accounting and finance software integrates, orchestrates, and automates your end-to-end accounting processes. It takes care of all your needs including journal entry management, automated reconciliation, account analysis, workflow management, audit trails, cash flow forecasting, and reporting.
Users can uncover errors using powerful analytical capabilities like data visualization tools, predictive analytics, and seamless automation. Moreover, the software guarantees compliance with internal auditing standards by offering a comprehensive audit trail for all transactions.
Features:
- Account Reconciliations: Enhance balance sheet integrity by using standardized templates, auto-certification, and intelligent, risk-based workflows.
- Task Management: It lets you monitor, certify, and collaborate on accounting and finance tasks.
- Transaction Matching: Handle exceptions effortlessly by automatically reconciling millions of transactions in just minutes.
- Journal Entry: Easily centralize, manage, and automate your journal entry processes from start to finish, all while securely storing supporting documentation in the cloud.
- Compliance: Take proactive measures to identify and effectively manage risks, while efficiently executing control workflows.
- Variance Analysis: Stay ahead of potential risks by using automated calculations and identification to monitor balance and activity fluctuations proactively.
- Smart Close: Simplify and automate tasks in SAP by scheduling and executing them, keeping an eye on activities, and verifying the results.
- Consolidation Integrity Manager: Simplify the process of reconciling systems and effortlessly map GL accounts to consolidation using business rules and hierarchies.
- Account Analysis: Automate the examination of high-volume, high-risk accounts at the transaction level.
- Financial Reporting Analytics: Simplify and automate financial statement analyses, providing real-time transparency and traceability.
Pricing: Contact BlackLine for demo and pricing.
#4. Planful

Planful, formerly known as Host Analytics, is an innovative cloud-based financial performance management platform tailored specifically for financial planning and analysis (FP&A) teams. With its comprehensive suite of features, Planful empowers businesses to streamline their planning, budgeting, consolidation, reporting, and analytics processes across the entire organization.
Recognized and trusted by CFOs, the Planful platform offers unparalleled functionality for financial close, consolidation, and financial planning and analysis processes. Its user-friendly interface and advanced capabilities position it as the preferred choice for finance professionals seeking to optimize their financial operations and drive strategic decision-making.
Features
- General Ledgers: Enables tracking of financial transactions and ensures compliance with accounting and tax regulations.
- Financial modeling: Develops sophisticated financial models and simulations, leveraging advanced techniques to enhance accuracy and provide valuable insights.
- Collaboration: Facilitates seamless data, report, and analysis sharing within your organization.
- Reporting and analysis: Effortlessly create and distribute reports, dashboards, and visualizations with just a few clicks.
- Integrations: Seamlessly integrates with various systems, including ERP, CRM, and more.
Pricing: Contact Planful for demo and pricing.
#5. Wdesk by Workiva
Best for financial reporting, ESG, audit, and risk management.

Workiva is a cloud-based platform designed for financial reporting, ESG, audit, and risk management. It facilitates data management, collaboration, and compliance. Their flagship product, Wdesk, enables seamless creation, editing, and sharing of documents, spreadsheets, and presentations.
Moreover, it offers sophisticated tools for data integration, workflow management, and compliance report generation. It is highly regarded by professionals in finance, accounting, and healthcare sectors who prioritize top-tier financial reporting, regulatory compliance, and overall business process management.
Features:
- Collaboration and document management: Facilitate real-time collaboration on documents, allowing multiple users to work simultaneously and seamlessly.
- Data integration and linking: Effortlessly import, link, and update data from various sources, including Excel and web services.
- Compliance and audit reporting: Ensure compliance with regulatory requirements, ensuring adherence to financial reporting standards.
- Accounting & Finance: Streamline financial reporting tasks by automating data integration, reducing the risk of errors while saving valuable time.
- Audit, Risk, & Compliance: Optimize audit processes, risk management, and automate repetitive tasks for audit teams.
- ESG & Sustainability: Enhance sustainability reporting with real-time collaboration, ensuring alignment with industry standards and effective scaling of ESG programs.
Pricing: Contact Workiva for demo and pricing.
#6. Prophix

Prophix is a comprehensive corporate performance management software that facilitates company budgeting, forecasting, planning, and reporting. Prophix’s Financial Performance Platform serves as a virtual assistant, ensuring seamless handling of all your financial requirements. With Prophix, you gain access to a user-friendly spreadsheet-style interface for in-depth financial data analysis and efficient information organization.
The software simplifies cash flow management, balance sheets, income statements, and offers robust data analysis tools. Additionally, Prophix provides what-if analysis capabilities and modules for securely storing personnel records, including salary, medical expenses, and tax calculations.
Features:
- User-Friendly Interface: Prophix offers an intuitive spreadsheet-style interface that simplifies the analysis and organization of data.
- Cash Flow Management: The software efficiently streamlines the management of cash flows, balance sheets, and income statements.
- Data Analysis Tools: Prophix provides robust tools for comprehensive data analysis.
- What-if Analysis: It enables strategic decision-making by supporting hypothetical scenarios.
- Financial Performance Assistance: The platform serves as a virtual assistant for all financial requirements.
- Company Budgeting: Prophix facilitates company budgeting, forecasting, planning, and reporting.
- Dashboards: This tool boasts impressive charts and graphs that allow users to easily visualize financial data.
- Integrations: Capable of seamless integration with other business systems such as ERP and CRM.
Pricing: Contact Workiva for demo and pricing.
#7. Workday Adaptive Planning

Workday Adaptive Planning, previously known as Adaptive Insights, is a comprehensive financial software solution developed by Workday Inc. This robust tool is specifically designed to provide organizations with a unified platform for all their financial management needs. From precise financial forecasting and budgeting to robust reporting and insightful analysis, Workday Adaptive Planning empowers businesses to make informed decisions and drive their financial success.
With its intuitive interface and advanced features, you can effectively manage and optimize your financial processes, resulting in significant time and resource savings. Experience the convenience of consolidating all your financial data in one centralized place with Workday Adaptive Planning.
Furthermore, Workday Adaptive Planning is a standalone solution that does not require any other Workday products. It seamlessly integrates with various ERP, CRM, HR, and other data sources, enabling you to quickly get started and leverage your existing systems.
Features:
- Automated data collection, consolidation, and validation: This feature helps mitigate the risk associated with manual data entry.
- Role-based access and security: Administrators possess the authority to control data access and system features for different user roles.
- Embedded machine learning: The system automatically detects anomalies, enabling timely adjustments to plans in response to changes.
- Robust security measures: With industry-leading encryption, compliance, and a proven multi-tenant environment, your data is always safeguarded.
- Automated data integration: Say goodbye to IT dependence for data integrations. Effortlessly integrate data from your CRM, ERP, HCM, and other systems with our automated integration functionality.
Pricing: Contact Workday for demo and pricing.
Conclusion – Top Record to Report Automation Software Tools
In conclusion, record to report automation software is a game changer for organizations looking to streamline their financial processes, improve efficiency and accuracy, and stay ahead in today’s constantly evolving business landscape. With its numerous benefits, it is a wise investment for any organization striving for success. So don’t wait, consider implementing this powerful software today and revolutionize your financial processes for the better. Let record to report automation take your organization to new heights of success!
Research Process – Best Record to Report Automation Tools
- Total time we spent on evaluating these tools: 48
- Total tools evaluated: 12
- Total tools finalized: 7
We spent 48 hours evaluating and researching different Record to Report Automation Software Tools. We looked at user reviews and compared products’ features to determine which tools help you in the future of financial management.
Based on our research, we believe the above tools drive your project in a better direction. Here we are not giving any ranking to any tool. Every tool in the list above has decent features. The best thing out here is almost all the tools come with a free trial.
Related posts:
- Best Account Reconciliation Software
- Best Financial Close Automation Software
- Best OneStream Alternatives & Competitors
- Best Blackline Alternatives & Competitors
- Best FloQast Alternatives & Competitors
- Best Trintech Alternatives & Competitors