‘They’re all numbers anyway,’ Digits wants to change the way small businesses manage their finances
- Today, most small businesses rely on external financial experts to help with their finances.
- Digits hopes to change that with its AI-fueled dashboard. That could leave certain careers with a blurry future.
2021 may turn out to be a big year for small businesses. 60% of small business owners expect revenue to increase this year, according to a report by Bank of America.
It may also be a big year for fintechs zeroing in on small businesses. 62% of small businesses say they’ve adopted more digital tools and methods as a result of the pandemic, according to the same report.
On that note, Digits, founded in 2018, is an AI based expense monitoring platform focused on SMBs. It aims to provide an alternative to the schlep small business owners face when dealing with the ins and outs of their financials.
Often, entrepreneurs work with external bookkeepers and accountants to manage their finances. But it usually takes a while for these financial experts to get back to them because they have many other clients. That means by the time accounting and booking get to the entrepreneur, a financial problem may have already escalated into a bigger one.
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