Automated accounting innovator, Digits, continues reimagining the future of finance by introducing a bill pay solution integrated directly into its AI accounting platform.

SAN FRANCISCO, April 30, 2024 /PRNewswire/ -- Digits, the creator of the world's first AI accounting platform and award-winning producer of automated bookkeeping software, today announces a breakthrough in the application of its AI with the launch of AI Bill Pay: the world's first bill pay product to fully understand invoice document structure – leveraging custom trained, state-of-the-art, layout-aware language models.

Digits AI Bill Pay is the most advanced accounts payable solution in the market, and fully integrates with the power of Digits' AI accounting platform. Business owners simply drag & drop bills onto Digits or forward them via email. Digits' AI handles the rest—processing the bills and extracting all the relevant vendor and payment information, even line-level details. Then, with a built-in approval workflow, click Approve and Pay, and you're good to go.

"The worst part of owning a business is running the business—keeping the books, sorting receipts, paying bills—it's a huge time sink," said CEO Jeff Seibert. "Today, Digits takes the next step in finance automation with AI Bill Pay, continuing our mission to reimagine accounting and all of its related workflows with modern technology."

Technical Breakthrough
AI Bill Pay is the result of extensive design and engineering, including pioneering and industry-leading work on layout-aware language models, which deeply understand document structure. The result is a custom-trained AI that accurately extracts all bill payment information, including line-item details, in seconds—far faster and more reliably than is possible with current 3rd-party LLMs.

These models are proprietary to Digits, self-hosted, and both operate and train on encrypted data, guaranteeing the safety of businesses' most sensitive financials. Bills never leave the secure confines of Digits' US-based infrastructure, are encrypted at rest, and are never shared with any 3rd-party AI companies or models.

This work extends Digits' lead in AI model development for finance workflows and builds upon years of work on foundational double-entry accounting models for transaction classification and bookkeeping automation.

Designed for Speed
AI Bill Pay was built with a key focus on speed, in both the underlying AI models as well as the user interface. An intuitive, Kanban-style status board UI lets business owners easily track every bill in one place and a custom-built, multi-page, auto-zooming document viewer powers seamless review and approval workflows for even the most complicated bills.

Digits lets business owners manage their accounts payable workflows with just a few clicks, and smart enhancements such as tags on bills that are overdue, totals on outstanding bills, and payment history at a glance make it incredibly easy to manage cash flow.

Integrated & Automated
The key to efficient accounting workflows is seamless integration. Since AI Bill Pay is built on top of the Digits AI accounting platform, there's no need to configure anything. Everything needed to handle accounting & AP operations is built right in and directly accessible in one place—Digits.

Digits Bill Pay is available today at https://digits.com/features/bill-pay.

About Digits
Digits is accounting, reimagined. Picture clean books, powerful insights, and intuitive reports—all delivered right as the month ends (not 2-3 weeks late!) at half the cost of any traditional firm. Digits has built the first modern accounting platform in 20+ years, designed from the ground up to automate bookkeeping and accounting for tech-forward businesses. Digits pairs cutting-edge AI with expert US-based CPAs to provide full-service accounting to Pre-Seed to Series B startups, and sells automation software to top accounting firms. Founded in 2018 by serial entrepreneur Jeff Seibert, Digits launched in November 2023 and is backed by $97.5M in funding from Benchmark, GV, Softbank, and 70+ angel investors. Learn more at https://www.digits.com.

Contact:
press@digits.com

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SOURCE Digits