{"id":2011818,"date":"2024-07-16T15:43:45","date_gmt":"2024-07-16T19:43:45","guid":{"rendered":"https:\/\/www.pymnts.com\/?p=2011818"},"modified":"2024-07-16T15:43:45","modified_gmt":"2024-07-16T19:43:45","slug":"docyt-adds-ai-bookkeeper-to-small-business-financial-management-platform","status":"publish","type":"post","link":"https:\/\/www.pymnts.com\/back-office\/2024\/docyt-adds-ai-bookkeeper-to-small-business-financial-management-platform\/","title":{"rendered":"Docyt Adds \u2018AI Bookkeeper\u2019 to Small Business Financial Management Platform"},"content":{"rendered":"<p><a class=\"editor-rtfLink\" href=\"https:\/\/docyt.com\/\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">Docyt<\/span><\/a><span data-preserver-spaces=\"true\"> has added an \u201cAI bookkeeper\u201d called <\/span><a class=\"editor-rtfLink\" href=\"https:\/\/docyt.com\/GARY\/\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">GARY<\/span><\/a> <span data-preserver-spaces=\"true\">to<\/span><span data-preserver-spaces=\"true\"> its digital back-office solutions for small and medium-sized businesses (SMBs).<\/span><\/p><div\r\n\tid=\"article-paywall-overlay\"\r\n\tclass=\"d-none\"\r\n>\r\n\t<div id=\"article-paywall-content\" class=\"my-4\">\r\n\t\t\n<div class=\"wpcf7 no-js\" id=\"wpcf7-f2699550-o1\" lang=\"en-US\" dir=\"ltr\" data-wpcf7-id=\"2699550\">\n<div class=\"screen-reader-response\"><p role=\"status\" aria-live=\"polite\" aria-atomic=\"true\"><\/p> <ul><\/ul><\/div>\n<form action=\"\/wp-json\/wp\/v2\/posts\/2011818#wpcf7-f2699550-o1\" method=\"post\" class=\"wpcf7-form init pymnts-article-paywall-form\" aria-label=\"Contact form\" novalidate=\"novalidate\" data-status=\"init\">\n<fieldset class=\"hidden-fields-container\"><input type=\"hidden\" name=\"_wpcf7\" value=\"2699550\" \/><input type=\"hidden\" name=\"_wpcf7_version\" value=\"6.1.5\" \/><input type=\"hidden\" name=\"_wpcf7_locale\" value=\"en_US\" \/><input 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daily newsletter, PYMNTS Today.<\/span>\n\t\t\t\t<\/p>\n\t\t\t\t<p class=\"small lh-base\" style=\"font-size:.9rem;\">By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our <a class=\"fw-bold\" href=\"https:\/\/pymnts-com-develop.go-vip.net\/privacy-policy\/\">Privacy Policy<\/a> and <a class=\"fw-bold\" href=\"https:\/\/pymnts-com-develop.go-vip.net\/terms-conditions\/\">Terms and Conditions<\/a>.\n\t\t\t\t<\/p>\n\t\t\t\t<p><input id='hiddenPath' type='hidden' name='path' value='' \/><input type='hidden' name='userDeviceId' id='userDeviceId' \/><input type='hidden' name='pageTitle' id='pageTitle' \/>\n\t\t\t\t<\/p>\n\t\t\t<\/div>\n\t\t\t<div class=\"col-12\">\n\t\t\t\t<div id='formButtonRow' class='container mt-1 px-0'>\n\t\t\t\t\t<p><input class=\"wpcf7-form-control wpcf7-submit has-spinner btn btn-dark text-uppercase py-2 px-5 small\" id=\"theSubmitButton\" type=\"submit\" value=\"Submit\" \/>\n\t\t\t\t\t<\/p>\n\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t<\/div>\n\t<\/div>\n<\/div><input type=\"hidden\" name=\"post_id\" value=\"2011818\" \/><input type=\"hidden\" name=\"source\" value=\"https:\/\/www.pymnts.com\/back-office\/2024\/docyt-adds-ai-bookkeeper-to-small-business-financial-management-platform\/\" \/><p style=\"display: none !important;\" class=\"akismet-fields-container\" data-prefix=\"_wpcf7_ak_\"><label>&#916;<textarea name=\"_wpcf7_ak_hp_textarea\" cols=\"45\" rows=\"8\" maxlength=\"100\"><\/textarea><\/label><input type=\"hidden\" id=\"ak_js_1\" name=\"_wpcf7_ak_js\" value=\"164\"\/><script>document.getElementById( \"ak_js_1\" ).setAttribute( \"value\", ( new Date() ).getTime() );<\/script><\/p><div class=\"wpcf7-response-output\" aria-hidden=\"true\"><\/div>\n<\/form>\n<\/div>\n\r\n\t<\/div>\r\n<\/div>\r\n<div id=\"article-paywall-hidden-content\">\r\n\t\n<p><span data-preserver-spaces=\"true\">GARY is built on the Docyt AI software-as-a-service (SaaS) financial management platform that integrates expense management, revenue accounting, industry vertical reporting <\/span><span data-preserver-spaces=\"true\">and<\/span><span data-preserver-spaces=\"true\"> financial reporting of key performance indicators (KPIs), the company said in a Tuesday (July 16) <\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.businesswire.com\/news\/home\/20240716384638\/en\/Docyt-AI-Unveils-GARY-the-World%E2%80%99s-First-AI-Bookkeeper\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">press release<\/span><\/a><span data-preserver-spaces=\"true\">.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">\u201cThrough GARY, businesses can now get real-time financials through continuous reconciliation \u2014 KPI tracking is also performed daily in real time,\u201d <\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.linkedin.com\/in\/sidharthsaxena\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">Sid Saxena<\/span><\/a><span data-preserver-spaces=\"true\">, co-founder and CEO of Docyt, said in the release.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">The AI bookkeeper is now available as a closed beta to Docyt customers, according to the release. A public beta will be launched after updates are made to it through the second quarter.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">GARY provides real-time assistance with account management, key insights into financials, and <\/span><span data-preserver-spaces=\"true\">assistance<\/span><span data-preserver-spaces=\"true\"> in finding documents and understanding procedures, using natural language and AI-driven assistance, according to the release.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">The AI bookkeeper also integrates with <\/span><a class=\"editor-rtfLink\" href=\"https:\/\/quickbooks.intuit.com\/\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">QuickBooks<\/span><\/a><span data-preserver-spaces=\"true\"> so that SMBs can use AI without abandoning their existing workflow, the release said.<\/span><\/p><div id=\"pymnt-2744348583\" class=\"pymnt-content pymnt-entity-placement\" style=\"margin-top: 50px;\"><p style=\"text-align:center\">Advertisement: Scroll to Continue<\/p><script async type=\"text\/javascript\" id=\"dianomi_context_script\" src=\"https:\/\/www.dianomi.com\/js\/contextfeed.js\"><\/script> \r\n<div class=\"dianomi_context\" data-dianomi-context-id=\"4329\"><\/div><\/div>\n<p><span data-preserver-spaces=\"true\">\u201cEquipping accountants with modern tools like Docyt\u2019s new AI bookkeeper will breathe new life into the accounting profession by helping them perform their jobs more efficiently and deliver greater strategic value to their clients,\u201d the company said in the release.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Docyt formed as a <\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.pymnts.com\/news\/b2b-payments\/2021\/docyt-small-business-finance-data\/\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">FinTech solution<\/span><\/a><span data-preserver-spaces=\"true\"> designed <\/span><span data-preserver-spaces=\"true\">to not only<\/span><span data-preserver-spaces=\"true\"> provide mechanisms to move money but also to lay atop existing portals to aggregate data from those movements of funds, Saxena told PYMNTS in an interview posted in 2021.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">\u201cWhat we\u2019re seeing is the volume of digital transactions has grown exponentially, but the paper and documentation supporting it has equally grown in similar terms,\u201d Saxena said at the time. \u201cBusinesses are still receiving paper invoices, collecting paper receipts, and ultimately for compliance and audit purposes, these documents <\/span><span data-preserver-spaces=\"true\">have to<\/span><span data-preserver-spaces=\"true\"> be managed.\u201d<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Venture capital firm <\/span><a class=\"editor-rtfLink\" href=\"https:\/\/a16z.com\/\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">Andreessen Horowitz<\/span><\/a><span data-preserver-spaces=\"true\"> said in June that as large language models (LLMs) improve, <\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.pymnts.com\/artificial-intelligence-2\/2024\/this-week-in-ai-transforming-accounting-governance-energy-efficiency-and-tech-investments\/\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">accounting firms<\/span><\/a><span data-preserver-spaces=\"true\"> are eager to leverage AI for enhanced efficiency and to manage increasing workloads.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">By automating repetitive tasks like bookkeeping and tax preparation, generative AI can free up accountants for more valuable activities.<\/span><\/p>\n\r\n<\/div>\r\n<script>\r\n\twindow.pymntsAllowedArticleCount = 2;\r\n\twindow.pymntsPostID = 2011818;\r\n<\/script>","protected":false},"excerpt":{"rendered":"<p>Docyt has added an \u201cAI bookkeeper\u201d called GARY to its digital back-office solutions for small and medium-sized businesses (SMBs). Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content \u2014 no additional logins required. yesSubscribe to our daily newsletter, PYMNTS Today. By completing this form, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":2011835,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"content-type":"","inline_featured_image":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[62146],"tags":[9498,156051,9680,4055,9617,14917,4403,63722,156052,9206,133069,156050,4069,5246,5299,10835],"class_list":["post-2011818","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-back-office","tag-ai","tag-ai-bookkeeper","tag-artificial-intelligence","tag-b2b","tag-b2b-payments","tag-back-office","tag-commercial-payments","tag-docyt","tag-gary","tag-news","tag-pymnts-news","tag-sid-saxena","tag-small-business","tag-smb","tag-whats-hot","tag-whats-hot-in-b2b"],"acf":{"suggested_titles":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.2 (Yoast SEO v27.3) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Docyt Adds \u2018AI Bookkeeper\u2019 to Financial Management Platform<\/title>\n<meta name=\"description\" content=\"Docyt has added an \u201cAI bookkeeper\u201d called GARY to its digital back-office solutions for small and medium-sized businesses.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.pymnts.com\/back-office\/2024\/docyt-adds-ai-bookkeeper-to-small-business-financial-management-platform\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Docyt Adds \u2018AI Bookkeeper\u2019 to Small Business Financial Management Platform | PYMNTS.com\" \/>\n<meta property=\"og:description\" content=\"Docyt has added an \u201cAI bookkeeper\u201d called GARY to its digital back-office solutions for small and medium-sized businesses (SMBs). 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