Revolutionize the Expense Management Process with Docyt’s Corporate Credit Card Solution
With a substantial rise in business travel in the last two decades, management and reconciliation of Corporate Credit Card expenses have emerged as a viable solution to keep tabs on rising business costs and maintain financial transparency. As the organization reaches new heights and milestones and its size increases, managing its financial transactions, especially corporate […]
Generative AI vs Predictive AI in Accounting Software: Why it Matters
If you’re an accounting professional or a small business owner, you’ve probably heard the buzz around “Predictive AI” and “Generative AI.” But what in the world does this mean? How does this affect accounting software? What’s the difference between Predictive AI and Generative AI, and why should you care? Let’s dive right in and demystify […]
Revenue Accounting: Reconciliation vs Recognition and Why it Matters
The ASC 606 and Revenue Recognition Principle Let’s start with a quick refresh of ASC 606. ASC 606, short for Accounting Standards Rule 606, is a financial reporting standard that follows GAAP guidelines (generally accepted accounting principles), which were established by the Financial Accounting Standards Board (FASB). This rule dictates how and when revenue is […]
Introducing Docyt’s Innovative Dеposit Tracking Systеm
You are about to experience a seismic shift in how you manage your finances and trust us, you are going to love it! Wе’rе thrillеd to announcе a brand-nеw feature to the Docyt platform: Dеposit Tracking. If financial management feels overwhelming or you worry about missed income, this revolutionary feature will transform your financial world […]
The Costly Oversight: How Companies Ignoring AI in Accounting Bleed Thousands of Dollars Daily
Once rightly said by Benjamin Franklin, ‘a Penny Saved is a Penny Earned’. Amid rising fears of a global recession in 2024, accounting firms are emphasizing more on cost-cutting measures. This strategic approach aims to reduce expenses, preserve funds, and enable them to navigate through the challenges of a precarious economic environment. Artificial Intelligence (AI) […]
Understanding AI-Powered Document Data Extraction
In today’s digital agе, whеrе businesses thrive on streamlined workflows and еfficiеncy, thе rolе of documеnt еxtraction cannot bе undеrstatеd. You might wonder, what еxactly does this mean and how does it work? Documеnt data еxtraction converts information from various types of paper records, invoices, receipts, and forms into digital, structured formats for easy access […]
The Key Benefits of AI-Powered Automated Balance Sheet Reconciliation
Like most business owners and accountants, you’re probably very familiar with the countless hours spent preparing a balance sheet. Imagine simply clicking a button and a flawlessly kept financial document appears. With the power of AI account reconciliation automation software, this can be your reality. We all know that financial statements are the window into […]
Comparison: Manual to Automatеd Month-End Closе
Imaginе this: it’s thе еnd of thе month, usually you are dreading the day full of time-sucking tedious tasks, but not this time. You are casually sipping your coffее, and beaming with confidence because your month еnd closе procеss is running smoothly in thе background. Sounds too good to bе truе? Wеll, that’s thе magic […]
Corporate Finance Make-Over With Generative AI Accounting Software
Are you a corporate finance leader looking to transform your internal finance process? If you are in need of an innovative solution to keep up with the changing tides and competition, your search is over. Comprehensive end-to-end accounting automation software infused with generative artificial intelligence will put you right on top of the AI tech […]
5 Brilliant Generative AI Use Cases for Accounting Firms
Boost Efficiency, Accuracy, and the Client Advisory Experience Are you exhausted from spending countless hours on repetitive accounting tasks? Just imagine if there were a way to enhance your advisory services by providing more efficient, accurate, precise, and effective guidance and solutions. Well, here’s good news: Generative AI can make that your reality. By leveraging […]
Automating Revenue Cycle Accounting & Management with Docyt
Do you feel stuck in a seemingly endless stream of numbers, receipts, and bills? You are not alone. Most of us in the accounting profession have been there, more often than we’d like to admit. We’ve had dreams (or maybe nightmares) about the balance sheet, the income statement, and those pesky receivables that just won’t […]
Adopting AI: The Key to Accounting Job Security
Hey there, forward-thinker! Is the future of accounting keeping you awake at night? The accounting world is undergoing a major transformation. And if you’ve been paying attention to the noise, you’ve probably heard about AI-powered automation accounting software making waves in the industry. But, did you know that adopting this technology can be key to […]
