Accounting, with its high volume of data and recurrent workflows, is a great candidate for automation. Artificial Intelligence (AI) makes your operations faster and less labor-intensive.
Here’s how automation can help you and your team.
Be the MVP to your CEO.
Docyt automates your accounting, so you can learn from your financial data rather than manage it. Real-time insights enable you to confidently guide your stakeholders.
Docyt is an AI automation layer for accounting software.
Why Automation
Use automation to reimagine accounting.
1. Improve employee satisfaction
Leverage Docyt's AI to shift tedious data entry from your staff to a machine.
Teams who use Docyt increase their productivity by 3X.
2. Increase Finance's stature and impact
Use technology to effectively navigate your company through the unknown.
Since Docyt is continuously updating and reconciling your ledger and balance sheet, which we call real-time accounting, you are able to see current performance and pivot quickly.
Why Docyt
Docyt delivers the modern, integrated automation tech stack.
Docyt is equipped to absorb, categorize, reconcile, and report on large amounts of financial data across all your accounting workflows.
Docyt’s benefits include:
1. Faster decision making
Because Docyt is continuously updating and reconciling your accounting ledger, there is no data lag. See your revenue and expenses in real time. Focus on planning and forecasting instead of scrambling to close the books.
2. Increased productivity
Leverage Docyt’s AI to extract data from bills and receipts, automatically categorize transactions, detect errors and duplicates, and continuously reconcile the balance sheet.
3. Improved data security
Since Docyt is an integrated solution, it eliminates the need to distribute sensitive data across piecemeal bill pay, expense management, receipt capture, and month-end reconciliation software. This reduces data risk.
4. Cost Savings
Docyt is a bundled solution. It’s more cost effective than paying for multiple software subscriptions.
Introducing Docyt AutoPilot
1. No Rules
Manual rules are time consuming for you to build and maintain. Whereas Docyt instantly learns from you as you categorize transactions and match them to their respective receipts or invoices. Our cutting edge machine learning eliminates the need for rules.
2. Docyt the Detective
Docyt closely inspects all incoming data. Among the thousands of inputs, it's able to identify and flag unusual transactions and documents. If you have a duplicate bill, an unusual charge from a vendor, or a completely new vendor, Docyt will alert you.
3. Crowd Learning
You benefit from others who have already used Docyt. Docyt learns industry verticals and vendors which means it could already recognize and categorize your transactions, invoices and receipts before you train it.
Elegant tools that are easy to use.
Mobile app for employees
Empower all employees with a full-featured mobile app. Scan receipts. Submit expenses.
Web app for your team
The web app is designed for finance and accounting teams. Manage workflows, see real-time financial statements, and close the books faster.
Spend management
Manage your expenses with Docyt's enterprise-class, integrated modules.
Bill Pay
Expense Reports
Receipt Capture
Keep the Float
Docyt offers both ACH and paper checks. When you pay by Docyt check, funds remain in your bank account until the check is deposited.
Duplicate Detection
Docyt AI alerts you of duplicate invoices or payments.
Employee Credit Cards
For each corporate card, see total spend and spend by employee. Each employee will see their purchases and receipts in Docyt. Transactions and receipts are synced to accounting software.
Vendor Management
See detailed spend by vendor. Docyt attaches invoices to transactions and syncs them to the accounting software. So you're audit protected.
Data Extraction
Docyt is able to read and extract expenses by individual line item in receipts and invoices.
Bill Pay Approval Controls
Assign verifiers and approvers from your team. Create rules for vendors or dollar amounts.
Revenue Management
See daily revenue reports
Do you collect cash in your business? Docyt helps mitigate theft.
Revenue Center
Merchant Deposit
Reconciliation
Chargebacks
Docyt exposes and tracks credit card chargebacks so you are prepared for disputes.
Shareholder Insights
Docyt allows you to record each investor's equity stake in your company while not exposing this sensitive data in your balance sheet.
Cash Management
For point-of-sale businesses, Docyt provides two revenue data points so cash doesn't get lost. You can cross reference your bank deposits against your POS revenue reports.
Merchant Deposit Tracking
Don't lose sight of your revenue. Docyt tracks bank deposits received from merchant card processors.
Multi-Entity Management
Docyt gives you a consolidated workflow and reporting experience for all your business entities.
Expenses
Split expenses across entities and do a settlement at the end of the month, quarter, or year. For each event, Docyt will update each company's balance sheet.
Transfers
Running short of funds in one company and need to transfer in cash from another company? Docyt records transfers between your companies, making it easy to report at tax time.
Continuous Reconciliation
With Docyt, for the first time,
real-time accounting is possible
Get a real-time snapshot of your business.
Continuous Categorization
Docyt AutoPilot learns your GL codes. Within a month, 80% of categorization is automated.
Uncleared Documents
Easily settle expenses across departments or business entities.
Journal Entry Adjustment
Docyt allows you to create adjustment journal entries for faster reconciliation.
Continuous Matching
Docyt does 1:1, 1: many, many:1, and many:many matching of documents, such as receipts and invoices, to bank and credit card transactions.
Compliance
Keep your business running smoothly
Increase efficiency and reduce risk of fraud and loss.
Audit Protection
Docyt automatically finds and matches receipts and invoices to their respective bank transaction.
Balance Sheet Sanctity
Keep track of key accounts and close with confidence.
Timely Financial Reports
Get your lenders, investors, and partners the most up-to-date financial reports.
Vendor W9 Compliance
Stay up to date with each vendor's W9, business address, and ACH information.
Expiration Alerts
Get timely alerts before important business documents, like licenses, expire.
Faster Tax Filing
Docyt provides in-depth details to your tax CPA, so that you don't need costly extensions.
Real-time reporting
Real-time financials including P&L and balance sheet.
Multi-entity roll-up and comparison reporting.
Get started
Step1
Create Docyt Account.
Step2
Connect your accounting software.
Step3
Connect your bank and credit card accounts.
“Before Docyt, I had a non-stop flow of transactions and receipts from our corporate credit cards that I had to manually manage. Docyt has streamlined our receipts workflow and automated the reconciliation of our credit cards. I no longer need to build and manage any rules! Now my time has freed up considerably and I can focus on other important aspects of our business.”
Loretta FuFinancial Officer at Vet Rocket, LLC
