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Why is the Living Model so transformative?

  • 5 May 2022
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Today, businesses are forced to rely on a web of antiquated, manual, and time-consuming processes to record and model their financial activity and understand how that activity impacts their business.  Real-time transaction streams are increasingly available from financial institutions, but they are raw and unreconciled. Forward projections are still powered by spreadsheets and approximations, each one manually maintained—delaying leadership teams from making crucial decisions.

 

Enter the Living Model

Our team has spent years building an innovative, machine-learning and A.I.-enhanced technology that perpetually runs millions of calculations, monitoring every business traction. We are call it: The Living Model. With every single change to your business, the Living Model is instantaneously updated and refreshed. It’s this underlying technology that powers our suite of never-before-built, game-changing finance tools. 

 

What can you do with the Living Model?

An incredibly fast Living Model would enable the capability to have a digital twin of the physical business. All changes to the business would be known in real-time, digitally. Because it is digital, this allows us to enhance it even more with unique datasets.

This level of data enhancement paired with machine learning brings the Living Model to an entirely new level.

It saves so. much. time:

  • Putting this technology into tools like Digits Reports means cutting down 3-5 hours of making and sending boring monthly end PDF reports into beautiful, interactive reports -- in one-click.
     
  • Or for auditing, wanting to find everything related to travel? The Living Model technology made Digits Search possible. The first, instant smart-search for business financials. It even auto-reconciles across different data sources. There’s nothing on the market like it.
     
  • Or for transaction review - you know you’ve categorized this many times, why can’t it just know? Well Digits Boost, enabled by the Living Model, learns from every single categorization and classification that was made and will suggest it for you. Suddenly, what used to be a huge manual pain is simple, smart, and helps saves you incredible time.

We’re on a mission to build the next generation of finance tools.

  • Take a look at this video describing our team’s breakthrough innovations
  • Dig deeper with our “How it works” technology page

Digits is the missing link in business finance. It’s the infrastructure that converts your data into a Living Model of your business, enabling an entirely new class of business software. 

What tools have you built using the Living Model already?

  • Digits Reports Builder - Drag. Drop. Done. Instead of spending 3-5 hours per client to reconcile and prepare the monthly report, you can use Digits Reports Builder to drag what you want your clients to see. All the work is done for you, you just need to Drag. Drop. Done.
  • Digits Reports - Hover to Discover. Instead of boring, black and white PDFs that lack context, Digits Reports is interactive with features like Hover to Discover, interactive commenting, and more.
  • Digits Search - Your business at your fingertips. Instead of downloading each individual statement from different banks, you can search across all your financials, all auto-reconciled, all in one place. Just link your QBO and corporate accounts and Digits will do the rest.
  • Digits Boost - Save time. Automate your work. Instead of manually checking the ledger for errors, or always wondering if you just had the time to put in all the vendors for all your books, or fretting about storing credit card information or social security numbers, Digits Boost will do that for you. It’ll constantly look out for those errors and inconsistencies, and auto-maintain vendors for you.

How do I help build the next groundbreaking tool for finance?

Be active with your feedback in our Ideas board! What’s working, what’s not working, what would you love to see built. Our team ships quickly so don’t be surprised to see your suggestion acted on, coded, productionized, and shipped into a tool!

Keep in mind, you’re part of a very small group of people that can influence some of the most powerful technology in this industry right now!

Looking forward to the next breakthrough!


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