• Troy Renbarger

Not All AI Options Are Created Equal

AI accounting software programs, come in many shapes and sizes.  They promise to make accounting more accurate, less mundane, and prepared instantaneously.

Document Capture & Organization

The market is flooded with lower tiered systems that boast document capture and organization.  Businesses of all sizes can benefit from this tier of technology.

Document Capture & Minimal Reporting

Middle tier programs take document capture and produce time and expense management reports, but still require additional data entry.

All Inclusive AI Solution

A full blown AI arsenal exists, from document capture to accounting software entry, which covers every step that was once required by your employed bookkeeper. Data is extracted, categorized, coded, and reconciled to your accounting software automatically.  As a result, a business instantly reduces existing overhead costs, and discovers how quickly and efficiently AI produces the reporting needed to make good business decisions.  Be one of the few that doesn't waste time and money jumping between programs that do not provide you an all inclusive solution.

Case Study:

A one Million dollar in sales local HVAC company is looking for a way to cut costs, while reacting to the changing business climate in a proactive manner.  The company consists of a husband and wife team and two technicians.  Joe is in charge of operations, while Sue runs the back office.  Sue is busy with scheduling, accounts receivables, accounts payables, and payroll among other things.  Sue recently implemented a basic expense management application in the business.  The application provides a smart phone app to scan in receipts, purchase orders and invoices.  Sue is ecstatic because this system is creating organization, she desperately needs, but Sue would save even ore time, if she takes one more step towards the future with AI bookkeeping.  There are applications that capture the same image of the receipt mentioned above, but instead of just capturing the data it is read and processed.  Each line of the receipt is deciphered, coded for the accounting system, and stored as a PDF for proper record keeping.

AI has bridged the gap of completing the manual accounting entry.  Even better, the AI module of the specific program is able to memorize and learn in order to better understand future transactions.  The more information the system is fed the smarter the reporting algorithm becomes.  Sue can now inundate Joe will with real time, accurate reporting that they can use to make business decisions, thus increasing sales potential and decreasing costs.

Improve your time and discover what bringing the power of AI into your business can do for you.  Simplify your accounting process and efficiency and profitability are sure to follow.

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