Full Transcript
So Docyt provides accounting, automation and various back office workflows for small- and mid-size businesses. On the expense side, on the revenue side, expense side businesses for example, have bills to pay.
They might be paying them through credit cards, through checks, through ACH. Our process allows them to just send the bills in, have not worry about the data extraction around it, one click from the phone or the app, and be able to pay out the bills.
So around the expense management, workflows. We also offer back office workflows around revenue. No matter how the business is collecting revenue from various point of sale systems or various of the revenue systems, they have to collect that revenue, reconcile it against the deposits that are coming in from various payment processors onto their bank account.
Kind of accounting of that revenue is a nightmare, and our revenue accounting back office app helps just exactly with that. Then there's the corporate. Businesses could be using any financial institution cards like Chase, AMEX, Capital One.
We are, we don't provide any cards. We are financial institutions agnostic, but we can connect to the cards, manage the employee cards, allow the employees of the businesses to just use our mobile apps to scan pictures of the card and not worry about the reconciliation with the transaction, which continuously happens.
So those are around the back office workflows that the businesses deal with, that we offer value in for the accounting firms. As such, there is a solution around reconciliation of the bank and the credit cards where there is a pain point depending on the size of the business. And our solution is around automating the reconciliation of the bank and the credit cards.
Yeah, that's a great question. So users choose dockets because of convenience. Sometimes in the back office workflows, you, you're moving every. You have to send a check. You could be somewhere out in the world and through the mobile phone, pick up your phone and pay. So there's a matter of convenience to it.
Of course, you know, you could drive to the office, write the check, go to the business location, and hand it to your employee. There's time you would be spending and not to mention the hassle you have to deal with, right? So there's a convenience factor. There's saving time because of the whole automation and the technology in all these back offices.
For the accountants obviously reconciliation is a lot of tedious work and a lot of unexciting work. While they could be liberating themselves while focusing on other advisory services, you know, higher level services that they could offer for their clients.
So they're also, it's a little bit about convenience and of course when there's technology, the amount of time that somebody could go through all these transactions and the statements technology could do it in a snap, you know, so it's hard to say the time you.
Liberating yourself from that entire solution, and obviously getting it automated in a snap.
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