Through a recent partnership with Redwood Software, Schneider Electric has achieved an 80% reduction in manual efforts within their record-to-report (R2R) process.
This achievement was showcased during Shared Services & Outsourcing Week Europe 2025. The session featured experts from Schneider Electric, Redwood Software, and SSON Research & Analytics, where they discussed how integrated automation strategies are reshaping the financial close process.
Strategic Imperatives for R2R Automation
Naomi Secor, Global Managing Director of SSON Research & Analytics, framed R2R automation as no longer optional but a strategic imperative. Backed by R&A data, she highlighted several insights:
- Companies must move from isolated automation efforts to scalable, integrated strategies.
- Automation should be deeply embedded into the core of finance operations.
- Leadership must shift from a tactical to a strategic automation mindset.
- ROI evaluation must go beyond cost savings to include compliance, agility, and risk reduction.
The Vision: From Fragmentation to Automation
Stefano Oliveri, Director of Digital Projects at Schneider Electric, explained that due to growth through acquisitions, the organization faced highly fragmented R2R processes. The vision was clear: a more compliant, standardized, and digital R2R.
To achieve this, the team wanted a solution with three key capabilities:
- A scalable platform solution.
- Robust cloud functionality.
- Compatibility with their ERP.
After vendor evaluations, including scorecards, market analysis, and expert consultations, Redwood Software was selected.
The Redwood Transformation
Redwood’s Executive Director of Financial Transformation, Shak Akhtar, emphasized their vision of “making the close a non-event.” The company’s goal is 100% automation, no manual journals, and risk-based, automated reconciliations.
Shak highlighted teams reliant on manual processes spend a disproportionate amount of time on production, with little time for analysis. For example, an estimated 40-50% of close efforts lie in accruals, provisions, and journals; with compliance only increasing the workload further. However, with Redwood, R2R teams can dedicate more time to analysis, and become more strategic.
“What Redwood does is turn the triangle upside down […] with more automation, the less controls you will need.” – Shak Akhtar
Although not quite at a touchless close, implementations of Redwood at Schneider Electric have led to:
- An 80% reduction in manual effort in R2R.
- An 86% reduction in time required for specific close tasks.
- Significant increase in compliance without increases in workload
Looking Ahead
With eyes set on 2026, Schneider Electric is not slowing down. Their next goal is a global deployment of the Redwood platform, expanding automation's reach and further standardizing operations. The company’s journey shows how targeted digital transformation, supported by the right partnerships and leadership, can dramatically improve performance while maintaining regulatory compliance.
“If you have these ambitions, even if you only achieve 50%, you are on your way to making your close touchless.” — Shak Akhtar
If you're interested in learning more about the power of R2R automation, join Redwood for their exclusive webinar, "Siemens and Redwood: How Finance Automation Cuts Labor Costs and Accelerates the R2R Close." Discover how Siemens reimagined global R2R operations, cutting cycle times, boosting compliance, and reducing manual effort, with SAP-native automation from Redwood. Register now!
