Docyt Is A Game Changer For Accounting Firms

Accounting firms manage the accounting for tens to hundreds of clients, depending on their firm’s size. To do so accurately and efficiently, the right tools are needed, specifically the right accounting software. Docyt is accounting automation software that is custom-built for the accounting industry. It provides standardized bookkeeping for all your clients. 

What makes Docyt exceptional, and why should your accounting firm adopt a modern, unified accounting automation software platform? For one, you can finally eliminate the need for multiple piecemeal automation tools and manage all your clients in a single platform. This integrated approach allows you to streamline your work, saving time and cutting costs.

More importantly, Docyt makes it easier than ever for business owners to work with you. No more cluttered inboxes mixed with client documents, receipts, and requests. You can easily manage documents, communicate directly with customers, and take action on workflows all within Docyt’s web or mobile app. 

Here’s a closer look at how Docyt helps you and your clients work better together.

 

Collect and Communicate

Communication is key in any successful working relationship. Staying in sync with your clients through a single dedicated tool that collects, verifies, and reconciles their data not only creates a better experience for both sides, it also allows accountants to close their clients’ books much faster. 

Docyt offers an integrated inbox that simplifies document collection from your clients. First, send all your paper documents to Docyt by photographing them using our mobile app or forwarding them via email. Then, Docyt creates digital copies of all your receipts, invoices, and documents. All data and documents are automatically encrypted and saved in the secure data vault, easily accessible at any time for workflows, taxes, or audits.

Docyt also generates a real-time P&L and balance sheet. And, you are able to add your own customized reports within Docyt’s reports module. You no longer need to manually generate financial statements, and your clients receive an exceptional accounting experience.

In addition, you can chat directly with your clients through our app in real-time. Ask questions on any transaction or document within the app, instead of tracking questions in emails or spreadsheets.

 

Automated, Real-Time Accounting

Imagine an accounting tool that automatically collects, organizes, and reconciles transactions, continuously pushing data to the ledger and providing real-time visibility into the financial health of your client’s business. Instead of waiting until 15 days after the month ends to get insight into financial performance, you get it daily in Docyt. This empowers your clients and makes you the accounting hero. 

Docyt AutoPilot automatically reconciles 80% of your clients’ transactions, on average, and eliminates the need for them to touch the accounting ledger. Not only does this allow for faster, more informed decision making by your clients, it reduces errors and time spent reviewing transactions.

How is this possible? Docyt is a self-learning system, utilizing powerful AI to absorb and extract data, categorize transactions, learn your client’s chart of accounts, and continuously match and push transactions and documents to the accounting ledger. 

With the income statement and balance sheet being continuously updated, your accounting firm can deliver real-time reports for your clients. Of course, monthly reports are still available.

 

Seamless Workflow Management

Bringing all accounting workflows into a single, unified application offers a streamlined approach to client management. With Docyt, you will immediately realize the benefits of standardization across your clients, increasing efficiency and productivity. 

Pay bills, capture receipts, and access real-time expense reports. Track revenue through point-of-sale report integrations. Connect and manage bank feeds from over 11,000 financial institutions. All while Docyt automatically categorizes transactions and continually matches them with supporting documents, like receipts, in your ledger.  

In addition, bundling workflows into one tech stack decreases data risk. Reduce the chance for error and eliminate multiple software subscriptions with Docyt’s consolidated accounting platform.  

 

A Modern Digital Experience

Innovation and advances in technology across many areas of our lives, especially in the way we work, have allowed us to connect and collaborate like never before. Docyt’s integrated platform was built by world-class designers and engineers, providing an easy-to-use software interface and delightful experience for both accountants and clients.

In addition to the web app, Docyt’s full-featured mobile app frees clients from their physical back office, providing access to powerful tools and real-time financial data in the palm of their hand. Clients can scan receipts and invoices, and submit expenses directly from their smart phones. They can even pay bills or quickly respond to your questions right within the mobile app. 

With remote access to real-time income, expenses, and their balance sheet, business owners have greater control of their financial data. As a result, they can make informed decisions quickly. This isn’t the future of accounting, it’s actually happening now within Docyt. 

Docyt is currently being used by tech-forward accounting firms to deliver best-in-class accounting experiences. 

To learn how Docyt’s AI and automation is far outpacing the competition and empowering accountants to grow their practices, read our Accounting Firms page.

To schedule a live demo, please contact sales@docyt.com

Kevin Waterman
Author
Kevin Waterman