Dext Precision is the toolkit every cloud professional needs in this day and age. By providing extremely intuitive and simple data cleaning tools, as well as offering detailed bookkeeping data insights, Precision helps you eliminate mundane, time-consuming, and costly tasks like manually looking for errors or even taking retrospective actions. Precision offers you all the high-quality, accurate data you require to streamline your business while strengthening customer relations, upskilling your business’ core strengths, and even increasing revenue.
With Dext Precision, you get to improve the quality of your data across the organization – from onboarding to reporting and other internal processes. You can experience the benefits from monthly bookkeeping jobs to your year-end accounts. The tool is suitable for all clients belonging to any level as it provides all the insight one would need to streamline their business and improve their offerings.
Through this article, let’s walk through some of the salient features of Precision, along with its deep performance analysis and comprehensive insights.
How does Dext Precision work?
Once clients are connected to the Precision platform, the tool automatically syncs with your accounting software and extracts all the transactional data into the system. In doing so, Dext Precision can successfully:
- Diagnose health checks on the quality of ledger data through health scores.
- Identify transactional errors.
- Spot potential issues in control accounts or Fixed Asset registers.
- Generate powerful and insightful analytical reports to help you sort and filter through your transactional data.
- Build checks into your workflows to fit your regular processes, like bookkeeping, onboarding, VAT returns, and more.
- Offer you a comprehensive dashboard that presents a bird’ eye view of all the information across different clients in your practice.
Evidently, setting up Dext Precision and working with it is as easy as counting 1,2,3. Most of the heavyweight work is automated, so all you need to do is establish the initial connections, set up the tool, and wait for it to do its magic!
Let’s look at some use cases of Dext Precision wherein it helps you save time and money by providing proactive bookkeeping data insights and accurate transactional data.
Key use cases of Dext Precision
Since Precision uses state-of-the-art technology to help you manage your data, its use cases span across different verticals and units. That said, here are three core use cases of Dext Precision that can help you save time and money:
Onboarding and pricing: Onboarding is a tricky task. With Dext Precision, you get to simplify the onboarding process and save your necessary time. The tool will give you insights into your client’s Health Score, which offers you their bookkeeping data insights. With this score, you can immediately understand the state of their books and check transactional volumes to arrive at more profitable prices.
Expanding the services: Since Precision is data-backed, it gives you confidence while making any decisions. You can convert all of your real-time data into client reports, and advisory insights can be integrated as a part of your client check-ins. This way, you get to add more value and even boost the billable services you can offer to your clients.
Boosting overall productivity: The Focus dashboard available with Dext Precision gives you a bird’s eye view of all your practice performance – all in one place. That way, you can easily track KPIs, manage your time and transactions, and boost your productivity!
Now, let’s take a brief look at a few of the features offered by Dext Precisions that help you get accurate data and actionable insights.
Core features of Dext Precision
Dext Precision comes loaded with all the features you need to acquire bookkeeping data insights and automate your mundane tasks. Here are some key features that help you get proactive insights from your data:
Dext Precision provides Health Scores that indicate the quality of any client’s books. By connecting with Xero and Quickbooks, Dext Precision considers elements like unreconciled transactions to provide an overall Health Score. As a rule of thumb, 80% is a good score, and anything above that is good to go. However, you can decide the appropriate level of health for your business and for the type of client you’re working for. Health scores are also beneficial for prospecting new clients as they can show you what condition accounts are in before you start working.
Data cleanup tools
Data cleanup tools offered by Dext Precision are extremely nifty and helpful. These tools allow you to keep track of all the transactions that are to be reconciled. You also get information about duplicate records and a lot more using these tools. In doing so, Dext Precision helps you find many errors and prevent them before you submit your tax records. That way, the chances of making counterfactual errors decrease, as you are on top of your books!
Since Dext Precision provides you with comprehensive visualizations and graphs, you get to track your clients’ spendings easily. With that information, you can give insightful advice to your clients on where they have a spike in expenses or where they are most reliant. For example, if your client overly relies on just one of their customers, the tool will raise a flag for that, and you can then advise your client to diversify their customers.
Workflow management system
Dext Precision allows you to manage your workflows by creating workflow templates seamlessly. These are all data-driven workflows that easily connect to Xero and QBO data. Further, you also get to perform manual checks to chase a client for outstanding invoices or keep track of your team to see how they’re managing the work assigned to them.
Start making data-backed decisions, and see your business soar high!
The importance of accurate data and proactive insights cannot be overstated, especially if your job requires you to deal with transactions and books carefully. Dext Precision is your partner through this journey, and it simplifies your task manifolds.
Reach out to us and get started with Dext Precision today!