Docyt, a provider of AI-driven accounting automation technology, unveiled an AI bookkeeper called GARY (Generative Accounting Retrieval sYstem) for small and medium-sized businesses (SMBs).
GARY combines precision and predictive AI models with generative AI tools that automate manual bookkeeping processes and accelerate the month-end close from a matter of weeks to just 45 minutes through continuous reconciliation.
“Through GARY, businesses can now get real-time financials through continuous reconciliation—KPI tracking is also performed daily in real-time. This cuts the month-end close down to 45 minutes whereas it can take up to two weeks for a typical business,” Sid Saxena, co-founder and CEO of Docyt, said in a statement.
The GARY bookkeeper is built on the Docyt AI SaaS platform which integrates workflows, such as expense management, revenue accounting, industry vertical reporting, and financial reporting of key KPIs.
GARY provides real-time assistance and key insights into financials, making it easier for account managers to handle their responsibilities effectively and accurately. It also provides efficient document retrieval and how-tos using natural language and AI-driven assistance, according to Docyt.
The AI bookkeeper also integrates with QuickBooks, which gives SMBs the ability to use AI without abandoning their existing financial workflow.
“Equipping accountants with modern tools like Docyt’s new AI bookkeeper will breathe new life into the accounting profession by helping them perform their jobs more efficiently and deliver greater strategic value to their clients,” Docyt said in a media release.
The GARY AI bookkeeper is currently available as a closed beta to Docyt customers. Subsequent updates to GARY will be made throughout the second half of 2024 to phase-in additional capabilities ahead of public beta, the company said.
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