Digits, a real-time finance and accounting platform for small businesses, has announced the launch of their latest tool, Transaction Review. This AI-driven feature is designed to help accountants and entrepreneurs with faster and more precise categorization of transactions.
Introducing Transaction Review: Digits’ new AI-powered tool
Transaction Review is the latest addition to Digits’ suite of financial solutions built using advanced AI technology. The tool uses artificial intelligence to provide quicker and more accurate categorization of transactions. The result is a faster overall process, allowing accountants to close clients’ books more efficiently.
The solution’s AI works by analyzing past transactions and uses context to understand how new transactions should be categorized. Transaction Review can then automatically suggest vendors, customers, and categories, which accountants can review and evaluate quickly.
For transactions that require the client’s input, the AI generates questions to gather the necessary information and context. Digits’ AI has been trained on $200 billion worth of transaction volume and can tailor suggestions for small businesses accordingly.
How Transaction Review helps small business owners
Digits’ innovative Transaction Review tool is a digital-first solution that saves entrepreneurs and their accountants time and money. The AI-driven platform reduces the need for manual categorization and enables entrepreneurs to focus on their business’s core functions.
The Transaction Review tool is an extension of Digits’ AI and is a powerful solution for coding uncategorized transactions. Entrepreneurs can now benefit from Digits’ leading technological breakthroughs, offering a more seamless small business finance process.
Digits: Revolutionizing small business finance with AI technology
Since Digits’ inception in 2018, it has been committed to building category-defining tools that solve the most painful problems for small businesses and accounting professionals. With Transaction Review, entrepreneurs and their accountants can rest assured they are equipped with the latest technology and AI to make data-driven financial decisions.
Backed by leading investors, including Benchmark, GV, and Softbank, Digits has won several awards, including Business Insider’s Top 100 Startups, Fast Company’s Most Innovative Companies for 2023, Inc.’s Inaugural Power Partner Awards, IncBuiltIn SF’s Top 50 Startups to Watch, and Equal Ocean’s Next 50 in Global Fintech.
Digits continues to build a future of finance that is accessible and easy-to-use for small businesses whilst empowering accountants with the innovative technology needed to pioneer revolutionary changes in small business finance.
Discover more about Digits’ AI-driven financial solutions at www.digits.com.