Are you tired of spending too much time on boring accounting tasks?
Do you wish there were an easier way to handle invoices, bills, and bookkeeping?
You’re not alone! Many business owners and finance teams feel the same way.
Two popular options are Puzzle IO vs Docyt. But which one is the best for you?
Let’s take a closer look and figure it out together.
Overview
We’ve put both Puzzle IO and Docyt through their paces.
Exploring their features and how they streamline accounting tasks.
Our hands-on testing focused on real-world scenarios to bring you a clear comparison of their strengths and weaknesses.
Ready to simplify your finances? See how Puzzle IO can save you up to 20 hours a month. Experience the difference.
Pricing: Free Plan available. Paid plan starts at $42.50/month.
Key Features:
- Financial Planning
- Forecasting
- Real-time Analytics
Tired of manual bookkeeping? Docyt AI automates data entry and reconciliation, saving users an average of 40 hours.
Pricing: It has a free trial. The premium plan starts at $299/month.
Key Features:
- Automated Reconciliation
- Streamlined Workflows
- User-Friendly Interface
What is Puzzle IO?
So, Puzzle IO, what’s it all about?
Think of it as your financial command center.
It’s built to give you a clear picture of your business finances, helping you make smarter decisions.
Also, explore our favorite Puzzle IO alternatives…
Our Take
Ready to simplify your finances? See how Puzzle io can save you up to 20 hours a month. Experience the difference today!
Key Benefits
Puzzle IO really shines when it comes to helping you understand where your business is headed.
- 92% of users report better financial forecasting accuracy.
- Get real-time insights into your cash flow.
- Easily create different financial scenarios to plan.
- Collaborate seamlessly with your team on financial goals.
- Track key performance indicators (KPIs) in one place.
Pricing
- Accounting basics: $0/month.
- Accounting Plus Insights: $42.50/month.
- Accounting Plus Advanced Automation: $85/month.
- Accounting Plus scale: $255/month.
Pros
Cons
What is Docyt?
Now, let’s chat about Docyt.
It’s designed to take a lot of the grunt work out of accounting.
Think of it as your automated assistant for things like invoices and expenses.
Also, explore our favorite Docyt alternatives…
Key Benefits
- AI-Powered Automation: Docyt uses artificial intelligence. It automatically extracts data from financial documents. This includes details from over 100,000 vendors.
- Real-time Bookkeeping: Keeps your books updated in real-time. This provides an accurate financial picture at any moment.
- Document Management: Centralizes all financial documents. You can easily search and access them.
- Bill Pay Automation: Automates the bill payment process. Schedule and pay bills easily.
- Expense Reimbursement: Streamlines employee expense claims. Submit and approve expenses quickly.
- Seamless Integrations: Integrates with popular accounting software. This includes QuickBooks and Xero.
- Fraud Detection: Its AI can help flag unusual transactions. This adds a layer of security. There’s no specific warranty for the software, but continuous updates are provided.
Pricing
- Impact: $299/month.
- Advanced: $499/month.
- Advanced Plus: $799/month.
- Enterprise: $999/month.
Pros
Cons
Feature Comparison
Let’s dive into a direct comparison of Docyt and Puzzle IO.
We’ll break down 10 key features to give you an accurate picture and help you decide which is the right fit for your current state and future needs.
1. AI-Powered Automation
- Docyt: This is where Docyt truly shines. Its AI powered platform is a game changer for automating back-office tasks. It automates tasks like receipt capture and transaction categorization, saving startup founders and non-accountants a ton of time.
- Puzzle IO: Puzzle also uses AI, but with a different focus. It automates more complex, tedious tasks like revenue recognition and prepaid expenses, giving you real-time insights into your financial health.
2. Financial Visibility & Reporting
- Docyt: Provides real-time reports and dashboards, giving you instant financial status visibility. This is great for tracking key performance indicators and your cash flow to make smart decisions.
- Puzzle IO: Offers a comprehensive view of your financial data, including your cash runway and burn rate, crucial for early-stage companies. It helps you get an up-to-date and accurate picture of your financial health.
3. Revenue Recognition
- Docyt: Includes specific tools for revenue reconciliation and automates the process to eliminate revenue accounting errors.
- Puzzle IO: Designed to handle complex revenue recognition rules, providing clear insights for businesses with different revenue models.
4. Financial Record Keeping
- Docyt: Excels at handling bookkeeping duties and ensuring your bank accounts are always reconciled, which is a huge benefit for non-accountants. It’s an AI bookkeeper that automates the whole process.
- Puzzle IO: Automates entries for things like fixed assets and general ledger adjustments, giving you a solid up to date foundation.
5. Multi-Entity Management
- Docyt: Designed to handle multiple businesses or business locations effortlessly, providing a consolidated roll-up of all your financial data.
- Puzzle IO: While not its core strength, it does offer some features for managing different classes or departments.
6. Bill Pay
- Docyt: Offers automated bill pay, which is part of its focus on automating the whole financial operations of a business.
- Puzzle IO: Also includes bill pay functionality, allowing you to streamline outgoing payments.
7. Tax Compliance
- Docyt: Focuses on maintaining accurate records to simplify tax time and tax compliance.
- Puzzle IO: Provides features like detailed reports on fixed assets and revenue recognition to help with tax compliance.
8. Ease of Setup
- Docyt: Known for its easy setup, it gets startup founders and small business owners up and running quickly with its AI automation software.
- Puzzle IO: Also has an easy setup, with a quick onboarding process that gets you to instant financial status visibility in minutes.
9. User Experience for Non-Accountants
- Docyt: Built for non-accountants, it makes finance easy to understand and use, especially for startup founders who want to spend less time on tedious tasks.
- Puzzle IO: Designed to be intuitive for startup founders and co-founder teams, offering a clean dashboard to get clear insights and an accurate picture.
10. Strategic Insights
- Docyt: Provides key performance indicators to help with strategic decision-making, especially with its ability to generate consolidated roll-up reports.
- Puzzle IO: Provides deep financial insights like cash runway and burn rate, which are critical for investors and long-term planning.
What to Look for When Choosing an AI-Powered Accounting App?
Here’s what to consider:
- Automation: Can the platform handle time-consuming tasks and eliminate manual data entry? Look for a tool where Docyt’s AI-powered platform and its ability to learn from your data make your life easier.
- Insights: Does the software offer real-time insights into key metrics, giving you a clear picture of your financial management and profitability?
- Control: Does it provide tools for ensuring constant financial control? This includes features for automated bank reconciliation and individual financial statements to help you save time.
- Usability: Is the app easy for non-accountants to use? You shouldn’t have to wait to get access to your money.
- Reporting: Can it generate individual financial statements for departmental accounting and provide a consolidated roll-up?
- Security: How secure are your financial data and bank accounts? A good platform protects your money.
Final Verdict
After all our comparisons, our final thoughts on which to choose come down to your specific needs.
If you’re a startup looking for an all-in-one financial dashboard and you have a finance expert on your team, you might have chose Puzzle.
However, for many businesses, especially small to mid-sized ones.
Docyt might be the better choice because it’s a true AI bookkeeping solution.
It learns from your business intricacies to automate more of your accounting processes and help you get your accounting firm in order.
It truly handles time-consuming tasks and makes your life as a human much easier.
So you can focus on growing your company quickly instead of completing tasks in QuickBooks Online or a spreadsheet.
More of Puzzle IO
We’ve looked at how Puzzle IO compares to other accounting tools. Here’s a quick peek at their standout features:
- Puzzle IO vs Xero: Xero offers broad accounting features with strong integrations
- Puzzle IO vs Dext: Puzzle IO excels in AI-powered financial insights and forecasting.
- Puzzle IO vs Synder: Synder excels in syncing sales and payment data.
- Puzzle IO vs Easy Month End: Easy Month End simplifies the financial closing process.
- Puzzle IO vs Docyt: Docyt uses AI to automate bookkeeping tasks.
- Puzzle IO vs RefreshMe: RefreshMe focuses on real-time monitoring of financial performance.
- Puzzle IO vs Sage: Sage provides robust accounting solutions for various business sizes.
- Puzzle IO vs Zoho Books: Zoho Books offers affordable accounting with CRM integration.
- Puzzle IO vs Wave: Wave provides free accounting software for small businesses.
- Puzzle IO vs Quicken: Quicken is known for personal and small business finance management.
- Puzzle IO vs Hubdoc: Hubdoc specializes in collecting documents and extracting data.
- Puzzle IO vs Expensify: Expensify offers comprehensive expense reporting and management.
- Puzzle IO vs QuickBooks: QuickBooks is a popular choice for small business accounting.
- Puzzle IO vs AutoEntry: AutoEntry automates data entry from invoices and receipts.
- Puzzle IO vs FreshBooks: FreshBooks is tailored for service-based business invoicing.
- Puzzle IO vs NetSuite: NetSuite offers a comprehensive suite for enterprise resource planning.
More of Docyt
When looking for the right accounting software, it’s helpful to see how different platforms stack up.
Here is a brief comparison of Docyt vs many of its alternatives.
- Docyt vs Puzzle IO: While both help with finances, Docyt focuses on AI-powered bookkeeping for businesses, while Puzzle IO simplifies invoicing and expenses for freelancers.
- Docyt vs Dext: Docyt offers a complete AI bookkeeping platform, whereas Dext specializes in automated data capture from documents.
- Docyt vs Xero: Docyt is known for its deep AI automation. Xero provides a comprehensive and user-friendly accounting system for general business needs.
- Docyt vs Synder: Docyt is an AI bookkeeping tool for back-office automation. Synder focuses on syncing e-commerce sales data with your accounting software.
- Docyt vs Easy Month End: Docyt is a full AI accounting solution. Easy Month End is a niche tool designed specifically to streamline and simplify the month-end closing process.
- Docyt vs RefreshMe: Docyt is a business accounting tool, whereas RefreshMe is a personal finance and budgeting app.
- Docyt vs Sage: Docyt uses a modern, AI-first approach. Sage is a long-standing company that offers a wide range of traditional and cloud-based accounting solutions.
- Docyt vs Zoho Books: Docyt focuses on AI accounting automation. Zoho Books is an all-in-one solution that offers a full suite of features at a competitive price.
- Docyt vs Wave: Docyt provides powerful AI automation for growing businesses. Wave is a free accounting platform best suited for freelancers and micro-businesses.
- Docyt vs Quicken: Docyt is built for business accounting. Quicken is primarily a tool for personal finance management and budgeting.
- Docyt vs Hubdoc: Docyt is a complete AI bookkeeping system. Hubdoc is a data capture tool that automatically collects and processes financial documents.
- Docyt vs Expensify: Docyt handles a full range of bookkeeping tasks. Expensify is a specialist in managing and reporting on employee expenses.
- Docyt vs QuickBooks: Docyt is an AI automation platform that enhances QuickBooks. QuickBooks is a comprehensive accounting software for all business sizes.
- Docyt vs AutoEntry: Docyt is a full-service AI bookkeeping solution. AutoEntry focuses specifically on document data extraction and automation.
- Docyt vs FreshBooks: Docyt uses advanced AI for automation. FreshBooks is a user-friendly solution popular with freelancers for its invoicing and time-tracking features.
- Docyt vs NetSuite: Docyt is an accounting automation tool. NetSuite is a full enterprise resource planning (ERP) system for large corporations.
Frequently Asked Questions
What types of businesses are Puzzle IO and Docyt best suited for?
Puzzle IO suits businesses needing in-depth financial analysis, while Docyt is great for those prioritizing automated data entry.
Do Puzzle IO and Docyt integrate with other accounting software?
Yes, both generally offer integrations with popular accounting software, but the specific integrations vary.
Which platform offers better customer support, Puzzle IO or Docyt?
Support experiences can vary, but user reviews often highlight Puzzle IO’s responsiveness.
Is Puzzle IO or Docyt easier to learn and use for new users?
Docyt’s focus on automation often makes it user-friendly for those new to such tools.
How do the pricing structures of Puzzle IO and Docyt compare?
Docyt typically has a lower starting price, but overall costs depend on specific features and user needs.
