Automating Data Extraction from Suppliers - Receipt Bank

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Institute of Singapore Chartered Accountants

Receipt Bank provides automated data extraction software that can process over 4 million transactions per month with 99% accuracy by digitizing paper documents and invoices for accounting firms and their small and medium enterprise clients. The software allows accounting firms to save time by eliminating manual data entry and paper record management, and add more value to their services by gaining insights from structured business data.

Technology

Automating Data
Extraction from Suppliers
Chris McColm
Account Manager chris.mccolm@receiptbank.com

Receipt Bank
Established 2010
Accounting Partners: 6,000 +
SME Clients: 100,000+
Transaction Processing Volume: 4,000,000+ / month
Data Extraction Accuracy: 99%+

The Singaporean accounting industry
17.6% average revenue growth for cloud firms in 2017
88% of directors say cloud migration is a business priority
Singapore was named #1 top APAC (Asia Cloud
Computing Association) Performer in the CRI (Cloud
Readiness Index) 2018 report

Cloud in Asia: closing the advisory gap
Just 38% of SME owners are confident managing
their business
Only 26% of SMEs use external accountants

Connecting Practices and Clients
GET THE  
BOOKKEEPING
DATA
ADD VALUE TO
THE DATA
`

Where does your time go?
COLLECTING
PAPERWORK
DATA
ENTRY
RECORD
MANAGEMENT

Going Paperless The Paper Problem
COLLECT THE
DOCUMENTS
ORGANISE
THEM ALL
CHASE
MISSING/ LOST
RECORDS

Going Paperless Instant Document Capture
MOBILE APP EMAIL-IN
DIRECT UPLOAD AUTO-FETCH

Going Paperless A New Way Of Working
No more lost items
Instant data delivery
Paperless storage

Ditching Data Entry Losing time and value
TIME
CONSUMING
HUMAN  
ERROR
NECESSARY
EVIL

Managing Data Management Matters
NON-ACCESSIBLE UNSECURED UNSTRUCTURED

Managing Data Management Matters
Paperless document
management
Mobile business
data
Expense tracking
Disaster Protection
Audit Protection
Fraud Protection

Smart Management
Secure storage
Efficient, compliant, searchable
Geographically flexible

A better bookkeeping system
DIGITISED AUTOMATED CONNECTED

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Automating Data Extraction from Suppliers - Receipt Bank

1. Work smarter. Grow faster.

2. Automating Data Extraction from Suppliers Chris McColm Account Manager chris.mccolm@receiptbank.com

3. Receipt Bank Established 2010 Accounting Partners: 6,000 + SME Clients: 100,000+ Transaction Processing Volume: 4,000,000+ / month Data Extraction Accuracy: 99%+

4. The Singaporean accounting industry 17.6% average revenue growth for cloud firms in 2017 88% of directors say cloud migration is a business priority Singapore was named #1 top APAC (Asia Cloud Computing Association) Performer in the CRI (Cloud Readiness Index) 2018 report

5. Cloud in Asia: closing the advisory gap Just 38% of SME owners are confident managing their business Only 26% of SMEs use external accountants

6. Connecting Practices and Clients GET THE   BOOKKEEPING DATA ADD VALUE TO THE DATA `

7. Where does your time go? COLLECTING PAPERWORK DATA ENTRY RECORD MANAGEMENT

8. Going Paperless The Paper Problem COLLECT THE DOCUMENTS ORGANISE THEM ALL CHASE MISSING/ LOST RECORDS

9. Going Paperless Instant Document Capture MOBILE APP EMAIL-IN DIRECT UPLOAD AUTO-FETCH

10. Going Paperless A New Way Of Working No more lost items Instant data delivery Paperless storage

11. Ditching Data Entry Losing time and value TIME CONSUMING HUMAN   ERROR NECESSARY EVIL

12. Ditching Data Entry Data. Entered.

13. Managing Data Management Matters NON-ACCESSIBLE UNSECURED UNSTRUCTURED

14. Managing Data Management Matters Paperless document management Mobile business data Expense tracking Disaster Protection Audit Protection Fraud Protection

15. Managing Data Smart Management

16. Smart Management Secure storage Efficient, compliant, searchable Geographically flexible

17. Receipt Bank Extract Let’s Go Live!

18. A better bookkeeping system DIGITISED AUTOMATED CONNECTED

19. Receipt Bank in Practice

20. ANY QUESTIONS?