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Exploring Dext Software for Small Business Accounting

As a small business owner, you know the importance of having a reliable and efficient accounting system in place. Accurate financial records are crucial for making informed decisions, managing cash flow, and ensuring compliance with tax regulations. Manual accounting processes are time-consuming, prone to errors, and leave little room for valuable financial insights. This is where small business accounting software steps in, offering a streamlined and efficient way to manage your business finances.

Dext Software (formerly known as Receipt Bank) stands out as a powerful solution specifically designed to simplify and automate key accounting tasks for small businesses. In this comprehensive blog post, we’ll explore the features, benefits, and security measures of Dext Software, and look at its suitability for your small business accounting needs.

small business accounting software

Introduction to Dext Software

Dext Software is a cloud-based accounting and bookkeeping platform designed to simplify and automate the financial management tasks of small and medium-sized businesses. Launched in 2010, Dext has rapidly evolved to become a trusted solution for thousands of businesses around the world, helping them streamline their accounting processes, improve data accuracy, and enhance productivity.

Dext Software is a powerful application that uses advanced optical character recognition (OCR) technology to extract and categorise financial data from invoices, receipts, and other documents. Dext saves you and your team time by automating these repetitive tasks.

How Secure is Dext?

Dext understands the importance of safeguarding your sensitive financial information.  Here’s how they prioritise data security:

  • Encryption Protocols: User data is protected in transit and at rest by using industry-standard encryption techniques. To prevent unauthorised access, data is stored in encrypted format on servers and encrypted data is transmitted over the internet via secure HTTPS connections.
  • Data Protection Policies: Dext has strong data protection procedures in place to secure user information in addition to encryption. This involves putting in place authentication procedures and access controls to limit access to only authorised individuals. Dext also follows strict data retention policies, making sure that information is only kept for as long as necessary and safely erased when it is no longer required.
  • Privacy Measures: Dext is dedicated to safeguarding user privacy and conforms with relevant privacy regulations, including the General Data Protection Regulation (GDPR). This includes obtaining users’ express consent before processing their personal data and being open and honest about the procedures used for gathering, using, and storing data.
  • Compliance with Industry Standards: Dext Software is subject to routine audits and evaluations to guarantee adherence to industry norms and guidelines, including ISO 27001 (Information Security Management System) and SOC 2 (System and Organisation Controls). Users can feel reassured by these certificates that Dext complies with strict security and privacy regulations.

Benefits of Dext Software

Dext Software offers a range of benefits that can significantly improve the efficiency and accuracy by using their small business accounting software. Let’s explore some of the key advantages of using Dext:

  • Streamlined Accounting Processes:  One of the primary advantages of Dext Software is its ability to streamline accounting processes by automating data entry and document management tasks. Rather than entering data by hand from paper bills and receipts, you can take a picture with your smartphone or upload digital documents straight to the platform. Dext then automatically categorises the relevant data, including date, amount, and vendor, for simple reconciliation using OCR (Optical Character Recognition) technology.
  • Improved Accuracy:  By eliminating manual data entry and minimising human error, Dext helps improve the accuracy of financial records. The platform’s AI-driven data extraction algorithms guarantee accurate and consistent data capture, reducing the possibility of mistakes and inconsistencies.
  • Enhanced Productivity:  You can concentrate on more strategic activities that drive growth and innovation by delegating repetitive accounting responsibilities to Dext Software. Dext gives you instant access to financial data and automates tedious tasks, allowing you to make well-informed decisions with speed and efficiency.
  • Real-time Insights:  Dext gives small businesses instant access to financial performance data so you can keep tabs on spending, keep an eye on cash flow, and spot patterns. You can create customised reports, charts, and graphs using the platform’s analytics and reporting features, which offer insightful data on important metrics and KPIs.

 

Integration Capabilities

One of the key strengths of Dext Software is its ability to seamlessly integrate with a wide range of small business accounting software and tools. This integration capability ensures a seamless flow of financial data across your entire business ecosystem, enhancing efficiency and productivity.

  • Accounting Software Integration:  Dext easily connects with well-known accounting programmes like Sage, Xero, and QuickBooks, allowing you to synchronise data between platforms. By eliminating the need for human data entry, this integration guarantees that financial data is continuously updated across the system.
  • CRM Integration:  Dext provides connectivity with top CRM systems, like Salesforce and HubSpot, for companies that depend on these systems to manage customer interactions and sales pipelines. Through this connectivity, you can establish a comprehensive view of client interactions and transactions by connecting financial data with customer records.
  • Business Application Integration:  Dext interacts with a broad range of corporate applications, such as project management tools, expenditure management platforms, and e-commerce platforms, in addition to accounting and CRM software.
  • Dext Bank Statement Processing:  For those of you small business owners without live bank feeds, (PTSB) did you know Dext can automate bank statement imports to Xero?

User Experience and Interface

Dext boasts a user-friendly interface that’s easy to navigate, regardless of your accounting expertise. Here’s what makes the user experience so smooth:

  • Simple and Clean Interface: The user interface is clean and intuitive, making it easy to find the features you need.
  • Mobile App: Capture and upload your receipts on the go with Dext’s mobile app for added convenience.
  • Seamless Uploads: Upload your documents via various methods, including dragging and dropping, email forwarding, or scanning through the mobile app.

How to add purchase invoices?

  • Mobile App:  This is likely the most convenient method. Dext offers a free mobile app that allows you to take pictures of your invoices directly. You can also import existing invoice photos from your phone’s library. Here’s a guide on how to use the Dext Mobile App to add Cost Documents: https://www.youtube.com/watch?v=dQw4w9WgXcQ
  • Email:  We will set you up with a dedicated Dext email e.g. yourbusiness@dext.cc. Simply add this email to your suppliers to automate your purchase invoice processing.
  • Top Tip:  Set up a dedicated accounts@yourbusiness.ie email address and copy supplier invoices to both email addresses. Our bookkeepers will log in and find any invoices missing in Dext removing you the business owner from the process.
accounting software

Customer Support and Training

Effective customer service and thorough training resources are important to the successful implementation and ongoing use of their small business accounting software.

Customer Support Options

Dext Software offers a range of customer support options to assist you and your team throughout your journey with the platform. This includes:

  • Dedicated account managers: Each Dext customer is assigned a personal account manager who serves as a single point of contact for all support and inquiries.
  • Responsive email and chat support: Dext’s customer support team is available to respond to your questions and concerns via email and live chat, ensuring prompt assistance when you need it.
  • Comprehensive knowledge base: Dext provides an extensive knowledge base, including step-by-step guides, tutorials, and troubleshooting resources, to help you navigate the platform’s features and functionalities.

The company’s commitment to customer satisfaction can be seen in the positive feedback and high ratings received from Dext users across various review platforms.

Training and Educational Resources

To ensure that your team is fully equipped to use Dext Software, the platform offers a range of training and educational resources. These include:

  • Onboarding and implementation support: Dext’s team works closely with you to ensure a smooth onboarding process, providing guidance and assistance to help you set up the platform and integrate it with your existing workflows.
  • Comprehensive training materials: Dext offers a variety of training resources, such as video tutorials, webinars, and user manuals, to help your team learn the platform’s features and functionalities.
  • Ongoing learning opportunities: Dext regularly hosts educational events, workshops, and user conferences to keep you informed about the latest product updates, industry trends, and best practices.

Dext Software offers a powerful and user-friendly solution for small business accounting. It streamlines expense management, improves accuracy, and empowers you to make informed financial decisions. Explore Dext, embrace efficient accounting, and consider partnering with Around Finance for comprehensive financial guidance. Remember, a healthy financial foundation is crucial for the success of your small business journey.

FAQ

Dext boasts a user-friendly interface and mobile app, making it easy to navigate for users of all technical backgrounds.

If you’re a small business owner tired of manual bookkeeping and seeking to streamline your accounting processes, Dext Software can be a valuable asset.

Yes, Dext Software prioritises security and employs industry-standard encryption protocols to protect user data both in transit and at rest. The platform also adheres to strict data protection policies and complies with relevant privacy regulations.

Streamlined accounting workflows, improved data accuracy, enhanced productivity, better cash flow management, and increased compliance and audit readiness.

Still got questions? Let us know what you’re looking for.

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