We’ve said it once, we’ll say it a thousand times – the cloud is a business owner’s imaginary best friend!
We understand that it can be a daunting prospect. Putting all your faith – the security of your business, of your livelihood – into something that many of us find difficult to even conceptualise. And even once you are prepared to trust the cloud – to submit to the online world of serverless, paperless, automation – where do you begin?
In a word? Hubdoc. In a single application? Hubdoc. Why do we love Hubdoc? Hubdoc, Oh, sorry, let us explain.
What is Hubdoc?
An application – isn’t everything these days? Hubdoc is an application designed to a make your business’ bookkeeping painless and paperless. A digital bookkeeping assistant, if you will. Bills, bank statements, and invoices – you’re not alone in thinking they’re the bane of small business existence. Therefore, we can guarantee you also won’t be alone in thanking us for introducing you to this gem of a tool.
Why do we love Huddoc? Well, we love SaaS.
Software as a Service. Who loves Data Entry? Anyone…? No? Ok, how about… Who loves filing? Trying to keep track of every bank statement, every business receipt, every bill, every invoice, for every business-related account for a minimum seven-year period? Anyone…? No? Crickets. We didn’t think so.
That is where Hubdoc lives! Hubdoc’s software has been engineered to extract key information from those endless streams of documents, convert the information into data, collate it, and store it in one location.
The platform offers various options for your documentation to be imported into the hub. So whether it best suits you to take a photo of receipts using the app itself, to forward email paperwork to your unique Hubdoc email address, to drag-and-drop attachments, or to scan and upload existing paper files, Hubdoc will account for your individual preferences and provide a solution that pulls your traditional bookkeeping routine into today’s digital age .
Once your existing paperwork is accounted for, you can begin your transition to paperless by adding your accounts directly to your hub. Not only will Hubdoc then have the ability to download all your new bills, it will also pull all the previous bills available under that account.
With all your financial records accounted for, backed-up, organised, and available at anytime, on any device, you are essentially audit-proofing your business by way of automation.
Worried about security? That’s common. We’re so often encouraged to trust online applications with all our personal information, and equally often warned of the risk in doing so. Hubdoc has you covered on this one too. Your account is protected by bank-level security, and it’s actually impossible to access or edit any finances from the app – it reads your information, but it can’t change it.
Hubdoc is a win-win.
Despite what you may think, us accountants find about as much joy in hassling our clients to chase down their paperwork, as our clients find in doing the chasing. It’s a right pain-in-the-backside. So why are we pushing Hubdoc so hard? Because it makes the work we do for you that much more efficient as well. When our clients can come prepared with accessible, well-documented information, we can cut to the chase and actually provide them with specialty service they pay us for – instead of feeling like their parents trying to remind them not to forget their homework!
What is more, not only does Hubdoc present us with all the client information we need, it allows that information to be seamlessly integrated into our accounting software, Xero. It’s all too easy.
So whether you’re the kind of anal-retentive individual who would happy waste away days putting the whole world in order, or you’re at the other end of the spectrum and can’t find yesterday’s supermarket receipt, Hubdoc has something to offer you and your business. If it’s not saving you from losing critical documentation, then it’s saving you time and energy in organising it.