By Richard Woolgar, management information and systems manager, Armstrong Watson LLP
As a small business owner, your time is precious and manual data entry is a massive productivity drain.
But what if there was a way to free yourself from this tedious task and gain valuable insights into your finances? Enter the world of data capture tools.
Save time and money
Data capture tools can save you a huge amount of time and money. Using AI, these programmes capture data from your invoices, receipts and bank statements.
You don’t need to manually enter data but simply, take a photo or upload a document and let the tools do the rest. Additionally, pre-populated fields and automatic categorisation will save you hours.
You can approve transactions with a single click, leaving you with more time to focus on what matters most – growing your business.
Tools such as AutoEntry and Dext Prepare are extremely accurate and boast accuracy rates exceeding 99% thanks to their advanced technology.
Mistakes in your spreadsheets or accounting software don’t just create headaches, they can hurt your bottom line, costing you money but also time to correct them.
Free vs premium tools
While free tools offer a taste of the data capture world, they often lack the accuracy, automation, and security features of paid options.
Having to manually categorise transactions or deal with limited integrations.
With more premium tools, you get a complete package that takes the burden off your shoulders and empowers you to make informed decisions based on accurate data.
Automation is your new best friend
Free tools might handle basic data entry, but tools like Dext Prepare take it to the next level.
Think automatic expense tracking, invoice matching and seamless integration with your accounting software.
No more exporting and importing data, just a streamlined workflow that keeps your finances secure, organised and accessible when you need them.
This will give you a greater insight into your finances meaning you will have all the information you need to make informed business decisions.
- For more information about how data capture tools could benefit your business and how to choose the right software for your needs, contact Armstrong Watson’s Management Systems team on 0808 144 5575 or email help@armstrongwatson.co.uk
