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Features & Benefits
Why ScanWriter?
ScanWriter is the only solution using advance technology to ensure accuracy and intelligent error detection at hyper speed. Its integration with Xero gives you the maximum data entry efficiency in a user friendly way.
Enter 100+ transactions in seconds!
ScanWriter streamlines data entry for bank statements, bills, invoices, receipts and more. Taking only 1 – 5 seconds per page.
ScanWriter displays a user friendly preview screen allowing you to edit, review, and total amounts to ensure 100% accuracy.
See how to automate data entry for Vendor Bills, Credit Card Statement, and Bank Statements.
ScanWriter transforms multi-step accounting activities into one streamline task. Your financial records will be kept up-to-date without incurring the cost of an additional full time bookkeeper.
Leveraging the benefits of technology offers over 90% in time savings.
| ScanWriter | vs. | Manual Data Entries/Outsourcing | |
|---|---|---|---|
 | Quickly & efficiently reads your financial documents. | Takes time to manually enter data and/or go from internal office to outsourced company. |
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| It instantly cuts hourly labor costs by 90%. | Would have to incur costs of a full time bookkeeper(s). | |
| Scan unlimited documents at your discretion! | Ongoing hourly and transaction limitations. | |
| In-house security and privacy among financial documentation so that never have to worry about your private documents leaving the premises or getting into the wrong hands. | If outsourcing, you need to disclose and send documents to vendor - possibility of document loss and compromisation of privacy. |
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| Fewer bookkeepers are needed to maintain and review company files. Reduces the need for multiple checkpoints to account for human error. | Multiple bookkeepers needed to record and review transactions. If outsourcing, you need to go through the outsourcing company and through the people they outsourced to finish the job! |
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| Data integrity - can review and check entries before Xero import to verify the validity and integrity of data. | Data integrity at risk – using multiple bookkeepers lessens the ability to review and see whether what is enter is correct or not. Creates potential redundancies. |
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| Takes minutes to read and review transactions before importing into Xero. | Takes days to enter and review your data before importing into Xero. |
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| Takes the click of a button to instantly create Xero entries. | Takes hours of manual data input to create Xero entries. |
- The avg. accuracy rate of a human is dependent upon multiple factors such as inexperience, risk misinterpretation, conflict of objective, and moral.
- Avg. likelihood of a human creating an error is 21%.
- In 2009, 2.5% of firms filed for a financial restatement of their returns.
- Last year, 75 companies filed 78 financial restatements to correct accounting errors.*
- In addition, companies delayed 115 financial reports.*
- Expense recognition was the most common area of error corrections, accounting for 18 percent of all errors.
These included underreported or miscalculated expenses.*
- Depending upon the amount of work available, bookkeepers can spend on average four hours to 20+ hours each
month entering data.
Key Features & Benefits:
- 100% accuracy in Xero
- Improve data integrity
- Supports bank statements, receipts, invoices & more!
- Manage high volume & batch processing
- Minimize data entry errors
- Reduce time & costs
- Advance error detection
- Automated account coding & entity name recognition
- Reliable automated data entry
- User friendly editing and review screens
**ScanWriter support handwritten documents.
*Expense Chart: According to the May 2009 National percentile wage estimates per Bureau of Statistics, 90% of Bookkeepers earned $24.25 per hour and had an annual wage of $50,450.00. *Bullet points: According to CFOZone.com, “Accounting errors way down: good or bad news?” by Stephen Taub.