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Welcome to Labs!
Our world-class team of product builders are constantly exploring ways to apply the Living Model to build groundbreaking finance tools.
What tools are in Labs right now?
- Digits Boost - Save time. Automate your work.
This is a mission-critical tool for accountants and bookkeepers. It scans for errors and issues in the ledger, and, through learning from your past work, even makes suggestions to fix. One-click, “Fix”, and it’s pushed to the ledger.
- Digits Reports Builder - Drag. Drop. Done.
Spending 3-5 hours per client to reconcile and prepare the monthly report? Use Digits Reports Builder to drag what you want your clients to see. All the work is done for you.
What happens when tools graduate out of Labs?
Tools that graduate out of Labs become fully-supported as a production-ready product. This means they get their own dedicated team of Product Managers, Product Designers, Engineering team, Support team, the works.
What tools came from Labs?
- 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 Reports - Financial reports from the future.
Still sending boring, black and white PDFs that lack context to your clients? Digits Reports is what your clients want with features like Hover to Discover, interactive commenting, and more.
How do I help build the next tool?
Be active with your feedback. What’s working, what’s not working, what would you love to see built.
Keep in mind, you’re part of a very small group of people that can influence some of the most powerful technology -- the Living Model -- in this industry right now!
What is the Living Model?
- The depth of understanding of the business model in-the-moment.
Businesses are fluid so any financial report is really just a moment in time. How deeply the business model is understood in that moment can have profound impact on the decisions and operations.
- A shallow understanding would simply be profit and loss of a business.
- A deeper understanding would, for example, be knowing all the cost it took -- the equipment, the number of human hours, the cost of the external service providers -- to land that big customer.
- The deepest understanding would be able to track every little thing as it relates to the business: all the inventory across all the locations, right now, and the overhead cost to keep it housed there (all the rent, utilities, taxes etc), every last detail.
The more intricate the model, the more you understand about that business (of that moment in time).
- The speed from change to impact.
When there’s several new charges on the company card, or invoices your customers “forgot” to pay, or marketing accidentally overspent by 3x, it impacts the business model immediately.
- How fast that impact can be understood is the change agent.
- The more “depth” to the model, the harder it is to trace its impact (ever asked “do I have budget for this” at a large company?)
Instantaneous understanding means that any impact to the model, no matter how intricate, is immediately understood. With constant transactions, coupled with a refresh rate so fast that it enables instantaneous understanding, is what makes the model “Living”.
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
Looking forward to the next breakthrough!