Are you spending time logging endless expense receipts each month? Or worse yet, are you paying someone else to do it?
In our continuing series that goes behind-the-scenes to address how Brigade is evolving our business, we’ll explore the benefits of Hubdoc for our clients.
What is Hubdoc?
Hubdoc electronically extracts key information from receipts, invoices, statements, and bills so it can be gathered and managed all in one secure hub. You can scan using Hubdoc’s smartphone app, or if you already have scans, you can upload them into your established Hubdoc account.
Financial data gathered from the scans eliminates the need for manual entry or paper filing. Additionally, you can manage all of your accounts from a single hub—no more logging into several separate websites to see all of your records.
Why we like it
Did I mention that “manual” is a four-letter word to us? Many businesses spend 23% of workdays manually managing processes. I cringe at the thought of those productivity-killing tasks taking away from high-value work opportunities. And let’s not forget the toll of human error!
Hubdoc helps with receipt tracking to avoid the hassle of paperwork, and it fits in perfectly with our overall strategy to incorporate more cloud-based software into our processes. Additionally, Hubdoc integrates easily with our other accounting software, including Bill.com.
How it’s improving client experiences
We’ve found it to be especially beneficial for a client’s banking needs. If a client has several bank accounts, it can be tedious logging into each account and retrieving information from monthly statements. Hubdoc automatically retrieves available statements every day.
An even greater benefit is receipt tracking. An employee can take a picture of their receipt and Hubdoc will collect the details and create a transaction. That transaction is then pushed out to accounting software like Xero or QuickBooks. If a client is curious about the details of a specific expense, they can open the attachment and see the receipt.
One of our clients, a cruise ship maintenance company, needed a way to track their receipts by individual job. Job costing can be overwhelming in detail and data. But with Hubdoc, their employees can take photos of all receipts, assign them to a job, and include notes about the transaction.
In future editions of this series, I’ll continue to share our experiences fulfilling our technology initiatives. I hope it inspires you to reach out to me as well. If you have a business that could benefit from this kind of automation or are in a firm that needs to evolve with the future bookkeeping, I’m here to help and consult.