Automation empowers efficiency
Our founders had a vision to industrialize accounting – to provide solutions and functionalities that increase efficiency through automation and improvement of processes. That’s why you will find innovative automation throughout the entire system. The value of automation is obvious: saving time and money, increasing efficiency, and reducing errors.
One example of this is “the invisible hand”: automatic recognition of invoices, vendors, and suggested journal entry postings which will provide efficiency gains. This can ultimately help the user save time and manual labor, and reduce the risk of errors. This functionality does not only apply to handling of incoming invoices, but also to the processing of travel expenses, electronic work flow, invoicing, automatic bank reconciliation, subscription invoicing and automatic collection notices.
With Xledger, you can scan, email or drag-and-drop invoices (or other documents) into the system and we will automatically read those via OCR, extracting relevant information and presenting it to you, all but eliminating manual data entry. Taking it one step further, we also learn how you post specific types of transactions so that we can propose to you full journal entries.
Xledger integrates directly with customer banks, enabling flexible payment processing and automated bank reconciliation on a daily basis. This saves numerous hours per month and yields real-time insight into your organization’s current cash position. All of this is standard, with no third party add-ons needed.
Peruse the site for even more examples of ways we can improve your efficiency.