August 26, 2021

SnapX: Automated Data Entry

minutes read

Financial directors are witnessing an important transformation in the world of finance, with new technologies improving efficiency and performance assessment. (Gartner: The Digital Future of Finance)

Automation and AI are redefining accounting and financial management.  Whether it be for client and supplier accounts, spending accounts, collection accounts or for planning and procurement, the management of all those operations and their related tasks are partly or fully automated thanks to breakthroughs in robot process automation and cognitive technology.

Despite the multitude of ways of optimizing these operations to increase both productivity and profitability, one task remains unchanged: data entry. This duty is still performed manually in the 21st century, which is surprising when we consider the mistakes and the waste of money, productivity and talent that it causes.  

SnapX: A Profitable Solution to the Needs of the Market

Relying on the entrepreneurial experience of its founder Alexandre G. Fortin, and following a field research conducted among 300 accounting firms across the province, SnapX was developed in response to the urgent needs of the market.

Objective: create a profitable AI system that reads invoices and receipts, decodes their content and synchronizes the data from SnapX to your accounting system and vice versa.  

SnapX: Gain in Accuracy, Efficiency and Reliability

In the fields of finance and accounting, AI performs tasks with more accuracy, speed and reliability than humans. For example, what used to take minutes to accomplish “back in the days” now only takes a couple seconds, thanks to automation.

By exploiting AI and machine learning, SnapX performs tasks such as:

  • data entry;
  • sorting transactions
  • speeding up account reconciliation;
  • matching invoice and receipt data with the associated transactions;
  • monitoring compliance of spending accounts with the company’s policy;
  • automatic archiving of supporting documents.

By automating invoice and receipt management, SnapX allows for tasks with more added value, from data analysis to financial model updates and development, consulting services and recommendations to improve business performance.

SnapX: Gain in Performance, Sharpness and Predictability

“Back in the days”, financial statements were only released a few weeks after closing the month or trimester because of the time it took to prepare documents and enter, consolidate and compile data. By automating these mundane tasks, SnapX allows you to quickly wrap up and release your financial statements.

SnapX: Save Time and Money

SnapX provides you with accurate data that represents the financial health of your business. By supporting sharp and informed decision-making, SnapX also optimizes the performance of your finance function.

  • Faster and more reliable data entry.
  • Reallocation of staff to strategic tasks with added value.
  • Increased control, transparency and efficiency.
  • Reduction of costs, up to 90%.
  • Cloud-based solution, available 24/7.

As a bonus: no need to replace your current accounting system. SnapX is “plug and play” and compatible with existing browser and cloud-based solutions: QuickBooks, XERO, Acomba, Sage, etc.

The time has come to adopt a solution that combines automation with learning and cognitive abilities to make data entry profitable, thus allowing you to become more competitive.

Book a SnapX demo today