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Deloitte and Redwood Software Announce Financial Process Automation(TM) Based Services and Solution Available to Customers Using SAP(R) Applications

Posted on: Thursday, 7 May 2009, 08:00 CDT

Helping Companies in Their Efforts to Achieve a More Efficient, Less Costly Period-end Close

NEW YORK, May 7 /PRNewswire/ -- Deloitte's Finance Transformation practice and Redwood Software are combining their respective knowledge and skills and Redwood Software's technology to make their Financial Process Automation(TM) services and solution available to customers using SAP(R) applications. Both companies are featuring the services and solution at the SAPPHIRE(R) 2009 conference running May 11 - 14 at the Orange County Convention Center in Orlando, Fla.

The Financial Process Automation services and solution are designed to help finance departments address their mandate to reduce the number of days to perform the period-end close while maintaining the highest degree of accuracy and compliance in financial reporting. The services and solution are based on a combination of effective business process practices and state-of-the-art automation technology.

The services and solution are designed to help finance departments in their efforts to:

1. Streamline closing processes that are distributed across many geographic locations and business units and make them more consistent to help improve efficiency

2. Manage and monitor the processes that produce and gather financial information from multiple systems from one central location to help improve control

3. Automate the manual, time-consuming tasks such as cost allocations, financial report review, order settlement, and journal entry uploads to help reduce labor costs and human errors

"By combining Deloitte's experience, knowledge and skills in helping companies improve their financial processes with Redwood's software solutions for process automation, we are pleased to be able to offer these Financial Process Automation services and solution designed to help these companies in their efforts to achieve a new level of control and reliability," said Ian Wright, principal, Deloitte Consulting LLP and leader of its Finance Transformation practice. "We can now help our clients fully automate their processes and controls while implementing more effective practices for period- and year-end financial close."

"These Financial Process Automation services and solution represent an opportunity for us to help companies implement an unprecedented level of automation, control and transparency for both finance and IT professionals. We expect customers to be able to remove time-consuming manual tasks from their period-end close process in order to greatly improve performance" said Dennis Walsh, senior EVP of Redwood Software.

For a more detailed look at Redwood Financial Process Automation solutions, visit http://www.redwood.com/solutions/business/financial-processs-automation/, and for more information about Deloitte's alliance with Redwood Software, visit: http://www.deloitte.com/dtt/article/0,1002,sid%253D26551%2526cid%253D172213,00.html.

About Deloitte

As used in this press release, "Deloitte" means Deloitte Consulting LLP and Deloitte Services LP, separate subsidiaries of Deloitte LLP. Please see www.deloitte.com/us/about for a detailed description of the legal structure of Deloitte LLP and its subsidiaries.

About Redwood Software

Redwood Software's financial process automation, job scheduling and report distribution solutions enable organizations to maximize the agility and value of their IT infrastructure and information resources. With more than 3,200 customer installations, Redwood solutions are supported worldwide by Redwood and its alliances, including Deloitte and its partnership with SAP AG. Learn more at http://www.redwood.com.

Redwood and Financial Process Automation are trademarks or registered trademarks of Redwood Software. SAP, SAPPHIRE and all SAP logos are trademarks or registered trademarks of SAP AG in Germany and in several other countries.

All other product and service names mentioned are the trademarks of their respective companies.

SOURCE Deloitte

Source: PR Newswire

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