Docyt will unveil their new voice-based transaction categorization functionality at AAHOACON24. Docyt will be demonstrating this and other new features of its AI-powered real-time accounting platform at this year’s show.
“The hospitality industry is under tremendous pressure to succeed in the face of ever-narrowing margins, highlighting the need for financial tools that give hoteliers a clearer view of their financial health,” said Sid Saxena, Docyt’s co-founder and CEO. “Building voice-based input into our platform helps users accelerate accounting workflows and allows them to work in a more intuitive way. By streamlining the bookkeeping process - and delivering tools like the new voice-based feature we’re previewing at AAHOACON24 - we make it easier than ever for hospitality businesses to have real-time visibility into their books to maximize the profitability of their hotels.”
New Voice-Based Interface
The Docyt AI platform is designed in a way that Precision AI algorithms take a first pass at the month-end closing process. However, many financial transactions require the accountant to ask for clarification from the business owner or their operations team. This manual interaction is time-intensive and delays the book-closing process. Docyt AI’s new functionality will enable business stakeholders to review these uncategorized transactions in the Docyt mobile app and simply leave voice notes which are transcribed by Docyt’s AI to complete the categorization process.
Source: Docyt
This new voice-driven workflow eliminates the need for back-and-forth emails, phone calls, and spreadsheets of flagged transactions, significantly reducing time spent on manual bookkeeping tasks. This is particularly beneficial in the fast-paced hospitality sector where the time of business owners and managers is an especially valuable resource.
Docyt AI gives multi-unit hotel operators, management companies, and franchisees real-time financial reports, KPIs and unit-economics insights to run their businesses more efficiently and profitably. The platform empowers hoteliers to execute bill payments, employee reimbursements, track & reconcile corporate credit card spending, access revenue reports, track cash & merchant processor deposits, and view real-time income statements formatted in the Uniform System of Accounts for the Lodging Industry (USALI) reporting standard. Docyt AI integrates seamlessly with a wide range of property management and payroll systems, enabling hoteliers to easily shift data management to AI, digitizing and automating the financial workflow, and bringing real-time financial reporting within easy reach.
Docyt Named a Finalist in the AAHOACON24 Tech Pitch Competition
AAHOACON24 show organizers selected Docyt as one of only seven finalists to participate in the show’s annual Tech Pitch Competition. Docyt CRO Darren Genstil and the other six finalists will be allotted five minutes each to present their solutions, focusing on cost, ROI, and AI implementation, with an emphasis on how their solutions benefit those in the hospitality industry. Formal presentations will be followed by three-minute periods of audience Q&A. Show attendees are encouraged to visit room W224 on April 4 at 5:00 pm to watch the competition live.
Docyt is shaping financial management for SMBs, franchises and accounting firms through accounting intelligence that automates and streamlines bookkeeping and financial workflows. The company’s Docyt AI platform gives organizations a real-time view of the financial health of their business, saving them time and boosting profitability. Docyt is venture-funded and based in Santa Clara, California.
To learn more about Docyt and schedule a free demo, visit their booth (#1625) at AAHOACON24, or reach out for more information at www.docyt.com.