Digits Launches AI Transaction Review Tool To Overhaul Tedious Process of Business Expense Categorization

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Mar 22, 2023, 09:00 ET

Newest product uses advanced AI to automate and improve the categorization process for accountants and finance professionals, creating a seamless client and accountant communication workflow by eliminating manual queries and classification of transactions.

SAN FRANCISCO, March 22, 2023 /PRNewswire/ -- Digits, a real-time finance and accounting platform for small businesses, today announced the release of Transaction Review, the latest tool in a suite of finance solutions built using their revolutionary AI technology. Digits Transaction Review uses advanced artificial intelligence to provide faster, more accurate categorization of transactions, speeding up the overall process and helping accountants close clients' books faster.

"Today, we're excited to launch Digits Transaction Review, our end-to-end solution for coding uncategorized transactions. Our powerful AI technology is a digital-first solution that saves entrepreneurs and their accountants time and money," says Digits co-founder and CEO Jeff Seibert. "We're focused on our mission to help fix the broken and antiquated small business finance process. With Transaction Review, small business owners now have another tool in the Digits arsenal that helps reduce the need for manual categorization with some of the leading technological breakthroughs of today."

An extension of Digits' AI, Transaction Review works by analyzing past transactions with existing context to understand how new transactions should be categorized. Transaction Review can automatically suggest the right vendor, customer, and category for any transaction, allowing accountants to review and accept suggestions rapidly. For transactions that require client input, the AI automatically generates what questions to ask, making it easier to gather answers and get context.

Digits AI has been trained on $200 billion worth of transaction volume and can understand past transactions and behavior to help tailor suggestions for small businesses.

About Digits
Digits is building category-defining tools that solve the biggest, most painful problems for small businesses and accounting professionals. Leave behind the manual, tedious ways you used to do things. Simply connect your client's books. Backed by the world's best investors, including Benchmark, GV, and Softbank, Digits is trusted by thousands of accountants and business owners who are working to build the future of finance together.

Since the company's inception in 2018, Digits has received numerous 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. Learn more at http://www.digits.com.

SOURCE Digits