Aside from the time to download, installation takes less than five minutes. The program is stored in the Applications folder of your Mac. Oh… you guessed. The panel on the right contains settings for how you want to convert transcode your media. At the top are a collection of presets that allow you to quickly apply settings to all selected clips. You can either batch convert all the clips you imported to this one preset, or flag some clips as favorites and just transcode those. In all cases, you are transcoding clips into the single, selected preset.
I love EditReady. It's nice to be able to bulk transcode with a reliable program.
EditReady: Advanced Workflows