AI Accounting brings you the future of accounting with its powerful Optical Character Recognition (OCR) and superior Artificial Intelligence (AI) capability of data extraction and classification. Data entry by human will be a thing in the past. AI Accounting shall revolutionize the accounting industry with its new way of preparing accounts at a fraction of the time. We shall tell you more about the benefits of AI Accounting in the subsequent paragraphs.
Consistency in Classifying Entries with AI Accounting
With AI Accounting, you can automate the bookkeeping task. Its ability to recognize images means there is consistency in the classification of accounting entries. Inconsistent classification of accounting entries by new or existing bookkeeper will no longer be an issue. Human error will be minimized. With consistent classification and minimum errors at source, it means more reliable financial analysis outcome for decision making.
Minimizing Storage with Digitalization
Paper documents are stored in image or pdf format (i.e. digitalized) so that you do not need huge storage space for paper documents. It not only saves space and cost of storing the physical documents, it also enabled the digitalized data to be backed up at different location to avoid the loss of documents due to fire or natural disasters.
Shorter Time for Data Entry and Free Up Resources
Our machine is able to process documents at tremendous speed. It can extract and process data round the clock, i.e. 24 hours per day and 7 days per week. With its speed, you know you need less time than conventional human bookkeeper to prepare a set of accounts. You can free up your precious human resource for more valuable work.
Search Capabilities in AI Accounting
With image converted to machine readable text, documents can easily be searched using keywords. Our AI Accounting can be instructed to extract description of every supplier's invoices so that in-depth search and analysis can be performed for specific purposes.
AI Accounting can analyze trends of past records and predict what may happen in the future based on the latest developments. Our machine is intelligently set up to identify trends and patterns quickly and effectively and will be a great tool for Accountants and decision makers. Accountants will no longer be used for routine transactions entry and adjustments but will be used for in-depth analysis. They will play a different role - a more critical role than before. Our Robotic Process Automation tools will be able to automate more of your processes and create greater efficiency and effectiveness for your businesses.
How our AI Accounting Works?
Our AI Accounting performs the following tasks:
- Intelligently extract data from your scanned documents. It learns and refines its extraction behavior so that it extracts precisely what you want;
- Extracted data is classified appropriately (i.e. to the designated accounts or type);
- Data is pushed directly to 3rd party accounting software like Xero or exported as CSV file; and
- If complete set of data is available AI Accounting is able to generate insightful management reports for decision making.
AI Accounting Pte Ltd
36 Newton Road #03-02
Contact Us Here!