Receipt Bank is now 'Dext'

Yesterday, February 23, 2021, was a big day for Receipt Bank. In fact, it was the start of a ‘next generation’ for the company which they launched at their Next Generation Event, a world-wide zoom-conference that began with the announcement that the company is now Dext. The rebranding represents a fusion of the ‘dexterity’ that bookkeepers and accountants bring to the challenges of their clients and the ‘next generation attitude' that’s so critical for their success.

During the event, Adrian Blair, the Chief Executive Officer of Dext, told the thousands in attendance that the company was committed to helping make accountants (and bookkeepers) more productive, more profitable, and more powerful. And to do this, Dext would focus on five productive, profitable, and powerful products for their accountant and bookkeeping partners. 

Dext ‘Prepare with Receipt Bank’ is the new name for what has been the Receipt Bank platform. It will remain the ultimate bookkeeping productivity suite to make bookkeeping profitable.

Prepare (for short) provides fast digitization of data from invoices, bank statements, and receipts with 99% accuracy, and it includes advanced workflows including supplier rules and hands-free publishing. Dext Prepare is the same platform used by over 1 million clients, it integrates with all leading accounting software and typically saves clients 5.5 hours each month has an average of 4.7 stars out of 5 in terms of user ratings.

Dext ‘Precision with Xavier’ is the new name for Xavier Analytics, a fairly recent acquisition Receipt Bank made to enhance the analytic capabilities of the platform and provide measures of the accuracy and completeness of each client’s data. While this new precision application is just getting started in a couple of Dext markets, it will not only be expanding across all the marketplaces in the coming year, but it has already shown high potential. Not only can Dext Precision track workflows through a focused dashboard, but it quickly spots errors in client data and that means giving accountants and bookkeepers the ability to avoid costly errors. It also provides meaningful information by which more valuable advisory services can be rendered including a client's financial health score.

Dext ‘Pay’ is what was Receipt Bank Pay which has been available for Clients and Small Business users with administrator rights in the United Kingdom. They were able to use Pay on the Receipt Bank Web and iOS (iPhone) Mobile Applications. With this capability an administrator could track unpaid invoices and pay outstanding documents, taking the hassle out of keeping track of invoices.  At present, the same capabilities will be present under Dext Pay, but this feature will be expanding into other Dext markets within the near future.

One of the upcoming features Dext will be focusing on in the future is designed to turbo-boost practice productivity, and another is intended to provide supercharged insights in real-time, right now. So, let’s look at how these visions for the future are evidencing themselves right now.

The Dext Connect App allows you to work with your clients regardless of the accounting system you are using. This is why Dext Prepare now supports not only cloud-based accounting but server/desktop accounting systems like Sage 50 and QuickBooks Desktop (versions in the US & Canada). Not only can Accountants and Bookkeepers make use of this new feature and functionality to expand their service offerings to clients with accounting systems not previously supported, but they have streamlined and enhanced use of the core capabilities of Dext Prepare, and soon Dext Precision as well.

But the Dext Connect App is just the beginning of innovation, a totally new dashboard is the future of the toolset that Dext Advisors will have available to them with all the tools and features at hand, with each of their clients easily identified in terms of products, data, and most current analytics.

Dext is genuinely interested in the input of Accountants and Bookkeepers, that’s why they are opening up their Product Roadmap for feedback in future briefings and input sessions. If you are interested in signing-up to participate you can head over to https://dext.com/Get-In-Touch.

Speaking of participation by Accountants and Bookkeepers, announced the launch of the new ‘Dext Advisor’ program today as well, details to follow. Insightful Accountant will hopefully have all the information about this new program offering within one of our ‘Advisor Alliance’ features just as soon as the data is released.

The name ‘Receipt Bank’ has been extremely well known within the Accountant, Bookkeeper, and QuickBooks ProAdvisor community.  It has been especially well respected among our readers and loyal followers here at Insightful Accountant, in part because of the sponsorship we have received from Receipt Bank for the ProAdvisor of the Year/Top 100 ProAdvisor Awards year after year including last year’s awards, and 2021.  You will notice that we have already made the brand change from Receipt Bank to Dext on the 2021 Awards Logo, we hope you will continue to honor Dext with the same loyalty and support that you have always shown Receipt Bank just as they intend to continue to support you their partner Accountants, Bookkeepers and ProAdvisors.

Dext is a Proud Sponsor of the 2021 ProAdvisor of the Year / Top 100 ProAdvisor Awards Program.