Today’s running real-time business world demands proper navigation of financial documents. Hubdoc and Dext both facilitate this process through their cloud-based document management system. The two stand out for the unique features each one has. Both these two are an essential tool for any business willing to make its financial operations quite simpler. Be it a small enterprise or a big one, a little knowledge of the strengths of both Hubdoc and Dext will guide your choice. Now, let’s see together what makes these servers different in secure document management.
5 Feature Comparison of Hubdoc & Dext
What is Hubdoc?
Hubdoc is an innovative, cloud based document management solution that extracts relevant data from receipts, invoices, and bills with a fully smart document system. It has earned wide recognition all over the world since its beginning in 2011.
It works in full harmony with accounting software, like Xero, for seamless integrations in the organization of records and easily generates professional invoices. Besides, Hubdoc offers cloud document storage; this means that one will be able to securely store and manage all the documents online in a secure manner and people in different places can access the information from anywhere, which again will streamline the chances of losing any important financial data.
The other thing is that Hubdoc is user-friendly. Its simplicity makes it easy for the not-so-technically savvy to use. You can upload your documents and manage your documents and files by just taking photos or directly uploading them.
Because of this, tracking of finances, audit, audit trail will not be a headache as one does not have to spend time searching for misplaced receipts. Generally, Hubdoc is a right document management software for something worthy of investment if someone aims at bettering financial productivity and organization.
What is Dext?
Dext is a cloud-based solution previously known as Receipt Bank, designed to make the small business process of managing documents such as receipts, bills, and other business documents easier. It automates the bookkeeping process by extracting all key information from uploaded documents. In such a way, automation will enable business owners to direct more resources toward growth, not administrative tasks.
Uploads are possible through a mobile application, desktop app, and attaching to a unique Dext email address. There is the simple capability in the mobile application to take pictures of receipts right at that moment. That kind of approach guarantees that no document will ever get lost. Also, upon uploading, Dext extracts from such documents all essential information, such as invoice dates and amounts. The users can then view this and approve it for integration into their accounting systems and file sharing with others. Dext allows users to store their documents in many cloud providers such as Dropbox, Google Drive, and Microsoft.
Dext automates the work to help an organization save time, minimize paperwork, and reduce errors. Its integration with a number of popular accounting tools such as Xero and QuickBooks, automates financial management in an insightful way. In the end, Dext is very effective in managing finances and keeping books of accounts in order.
5 Main Difference Between Hubdoc and Dext (Feature Comparison)
Here is the main difference between them. These following differences can help businesses assess which cloud service aligns best with their specific business document management needs and operational requirements.
| Main Difference | Hubdoc | Dext |
|---|---|---|
| Integration with Xero | Hubdoc is available for free with certain Xero plans, allowing seamless syncing of captured transactions directly into Xero. | Dext requires a subscription and allows data capture from a broader range of sources than Xero. |
| Data Capture Sources | Hubdoc focuses mostly on data gathering from emails, photos, and document scans, focusing mainly on bills, receipts, and statements. | Dext excels in gathering data from various supplier websites and cloud document management systems to provide near real-time data entry. |
| Automation and Customization | Hubdoc will majorly depend on predefined supplier rules to automate the creation of transactions within Xero. | Dext offers greater flexibility with customizable rules, data quality checks, and machine learning-driven auto-categorization, adapting to user behavior. |
| User Suitability | Hubdoc is designed with smaller businesses in mind and offers a more straightforward document solution for users with basic data capture needs. | Dext targets larger or scaling businesses with more advanced data management and financial analysis needs. |
| Cost Structure | Hubdoc is included at no additional cost with certain Xero subscriptions, making it very affordable for those users already in the Xero ecosystem. | Dext requires a subscription and can be a consideration for businesses on tighter budgets despite its extensive features. It starts from RM 150/month/company. |
5 things to consider when choosing a document management platform
1. Features of the System-Usability
First, ascertain the pain points of your business. You therefore have to determine what features of docuware you’ll need, such as full-text search and automated document workflows. The api should be intuitive. It should minimize the learning curve. This will help employees adopt the document handling system and file sharing easily across departments.
2. Accessibility and Integration
Scrutinize the accessibility of the cloud-based DMS (Document Management System). Is it a cloud solution to allow permission even from outside of the office or confined to use within the office premises? Also, check its integrative aspect: it should seamlessly integrate with continuous systems such as Cloud Accounting Software for smooth workflow and futuristic growth.
Don’t have an idea on choosing a Cloud Accounting Software? Here are the 5 best Cloud Accounting Software in Malaysia for you.
3. Scalability and Customer Support
Find a DMS that can scale with your business. This means a DMS that allows more documents, and more users, and doesn’t slow down or present problems. Customer support is also an essential feature. Server management should provide training and resources to enable you to reap the maximum potential from their software.
4. Security and Compliance
Avail a strongly secure environment for sensitive information. Examples include access version control and encryption. Also, ensure compliance with relevant acts such as HIPAA and GDPR. Strong measures in security give stakeholders confidence.
5. Cost Structure
Assess the overall cost of ownership. This may include the acquisition cost, recurring subscription fees, or any other potentially arising costs later on. Seek a flexible payment scheme that fits within your budget.
Frequency Ask Question (FAQ)
1. Can Hubdoc and Dext convert bank statements?
Yes, both Hubdoc and Dext are able to convert bank statements. Both these platforms integrate with Xero, whereby users can import bills, invoices, receipts, and bank statements.
Within Dext, users can upload a bank statement or sync the metadata automatically via a bank feed. Users need to create a bank account before submitting any statements. Connecting to a bank feed will automatically create this account.
The extraction of data in Hubdoc from supported banks is exemplary. It’s a very quality-intensive process. If your bank is not supported, you can upload a statement, but accuracy is not guaranteed.
2. Can Hubdoc and Dext read the write handwriting?
Dext uses OCR technology and achieves 99% accuracy. It can digitize receipts, bills, and invoices, including documents that have some handwritten ones.
For handwritten invoices and receipts, Hubdoc can read legible English handwriting. The accuracy will vary depending on how clear the writing is. On the other hand, Dext primarily deals with printed text. It might not be that good with handwritten documents.
In general, if you frequently work with handwritten content, then generally speaking, handwriting content management of Hubdoc is a better option.
3. Does Hubdoc use AI?
Yes, Hubdoc uses artificial intelligence (AI) to automate document capture and data entry. This technology helps extract key information from bills, receipts, and bank statements. It identifies details like supplier names, amounts, and due dates without manual input. This speeds up bookkeeping and improves accuracy.
Hubdoc scans and analyzes documents to extract relevant data, reducing the need for manual data entry in accounting software. As a Xero-owned platform, Hubdoc benefits from AI capabilities within the Xero ecosystem.
However, some users report issues with accuracy. Invoices from certain suppliers may be misidentified as invoices from the user’s company. This suggests that while Hubdoc employs machine learning, its text recognition can sometimes make mistakes.
In summary, Hubdoc does use AI and machine learning, but users may still need to make manual corrections occasionally.
4. Can users bulk download documents from Hubdoc and Dext?
Yes, both Hubdoc and Dext allow users to download documents in bulk, although it works a bit differently within each system. Users can find the ways to download all files in the Help Center.
Additionally, Hubdoc focuses on folder downloads and CSV export, while Dext offers flexible options for CSV and PDF formats.
5. What is the file size limit for Hubdoc and Dext?
For file size limits, it also differs in the case of both Hubdoc and Dext. The single document size can be maximum 35MB in the case of Hubdoc. Within 24 hours, a user can upload 300 documents. Some of the file types that are supported by Hubdoc are PDF, JPEG, PNG, IMG, HEIC, HEIF, HTML, and plain text.
Meanwhile, Dext allows different limits: the maximum size for an image is 6MB, while a ZIP repository can weigh up to 100MB. Dext supports several image formats: JPG, PNG, GIF, BMP, and TIFF. The document formats supported by the tool include PDF, DOC, DOCX, and ODT.
Conclusion
In summary, both Hubdoc and Dext provide innovative solutions for the management of financial documents. Hubdoc is renowned for its simplicity and is best suited for smaller businesses. On the other hand, Dext is a more sophisticated solution that has greater functionality if one requires extensive data management and document sharing. Assess your business needs, then, and find the best document management software to streamline your financial efficiency. Whichever you choose, you’re investing in a better, more organized financial future. Take advantage of technology and give your online document management an upgrade today!
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