Before diving in, we wanted to take a moment to wish you and your family well during these challenging times. This has certainly been an atypical Summer by any measure, and we hope you’ve stayed safe and healthy throughout. To whatever extent possible, we also hope you’ve had an opportunity to enjoy the (socially-distanced) great outdoors, whether on a bike ride, a mountain hike, or a campfire under the stars. Best wishes to you — Team Digits

It’s been a busy summer at Digits, as we’ve been simultaneously laying the foundations for our next major launch as well as rolling out improvements to Digits based on customer feedback!

While the business climate continues to be challenging, we’ve been working hard to further scale our Early Access program and get more companies off our waitlist. We believe that every business owner deserves to have the real-time visibility, and powerful, actionable intelligence they need to overcome the current market dynamics, and we’re racing as quickly as we can to build out these functionality.

Power Users

This month, we focused on a slew of power-user features: we added multi-dimensional sorting and filtering capabilities to our expense Categories breakdown, we added a new Vendors section that provides an unprecedented (fully automated) analysis of your spend by vendor, and we simplified our dashboard navigation to make it even easier to deep-dive into your company’s finances.

Closed Books

We’ve also added support for closed periods, to let you see at-a-glance where your business’s financials are finalized, and where they may still be in flux. Whether you or your accountant prefers to set the closed date within your ledger (e.g. QuickBooks), or directly on Digits (just click the Settings icon), it’s seamless: all closed periods now display as locked in Digits, and your data is guaranteed to match your accounting software exactly. For current/unclosed periods, Digits applies its category classification and auto-reconciliation algorithms, so you have a real-time preview of what the month or quarter will look like, as it happens!

A Touch of Darkness

Our design team has been burning the midnight oil all Summer long, and that might have given them some ideas 😉 The Digits login screen now has a fresh coat of (dark) paint, and we were so pleased by the look that we’ve brought it to all of our signup and onboarding screens as well.

But the Best is Yet to Come…

Much of our work from this Summer remains under wraps 🙂 We’re incredibly excited to share what’s behind the curtain once it’s ready. Stay tuned for our next major announcement this Fall!

Full Summer Upgrade

Digits Core

• Implemented system-wide support for closed and open periods.
• Deployed automatic data validation for all closed periods.
• Optimized vendor identification algorithms.
• Preliminary architecture and support for manual data classification.

Digits for Expenses

• Refreshed Categories view, including sorting and filtering.
• New and improved Vendors view.
• Implemented transaction filters.
• Enhanced dashboard navigation.
• Improved frontend UI performance for large datasets.
• Refreshed login and onboarding screens.

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• ▋▋▋▋extremely fast▋▋▋▋▋▋▋ ▋▋▋▋▋▋▋▋▋▋▋ ▋▋▋▋▋▋▋▋▋▋
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• ▋▋▋▋▋▋first time in business finance ▋▋▋▋▋▋▋▋▋ ▋▋▋▋▋▋▋▋▋▋▋▋▋▋▋▋▋
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• ▋▋▋▋▋▋▋▋▋▋ ▋▋▋▋no more wondering ▋▋▋▋ ▋▋▋▋▋▋▋▋▋▋ ▋▋▋▋▋▋▋ ▋▋▋▋▋▋▋ ▋▋▋▋▋▋▋▋ ▋▋▋▋▋▋▋▋▋ ▋▋▋▋▋▋▋▋▋▋▋▋▋▋▋▋▋
• ▋▋▋▋▋data-rich ▋▋▋ ▋▋▋▋▋▋▋▋▋ ▋▋▋▋▋▋▋▋▋
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• ▋▋▋▋▋▋▋▋▋ ▋▋▋▋▋▋▋▋▋▋▋answers ▋▋▋▋▋▋▋▋▋▋▋▋
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As businesses around the country and around the globe continue to struggle during these unprecedented times, we’ve been working as quickly as possible to scale our technical infrastructure and our Early Access program to keep pace with demand and help those in need.

At Digits, our mission is to provide the real-time visibility, and powerful, actionable intelligence, that business owners require to chart their course in this dynamic environment, and we feel the obligation to do as much as we can to help.

This month, we’ve been focused on two major, parallel tracks: an intense effort to drive the scalability and accuracy of our core financial engine in order to accelerate how quickly we make it through our customer waitlist, and a return to green-field product development as we lay the groundwork for our next major launch, later this year.

This month’s Upgrade is a BIG one. However, much is still under wraps, so stay tuned for more!

June Upgrade

Digits Core

• Ability to enable or disable integration sub-accounts.
• Improved automatic validation of transaction reconciliation.
• Enhanced category classification with additional ledger data.
• Automated regression detection for classification algorithms.
• Automated health indicators for ledger data synchronization.
• Major scalability improvements to our data processing pipelines.
• Major query performance improvements to support high transaction volume customers.
• Role-based permissioning and ACL implementation.

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After two years of heavy development, we’ve announced Digits for Expenses! We couldn’t be more humbled by the support and excitement we’ve seen from countless business owners and accountants across the country and around the globe, and we’re working tirelessly to get them into our Early Access program.

Since our launch, we’ve also been solidifying Digits’ underlying financial engine. Businesses come in all shapes and sizes, so we need to be absolutely certain that Digits supports them all.

This month, our biggest upgrades focused on new technology to help ensure that our understanding and your understanding of your business’ financials are the same.

Automated P&L and Balance Sheet Validation

Data quality is at the heart of our mission to provide real-time visibility and actionable insights into how your business is spending money, and we’re constantly iterating on approaches to guarantee both precision and accuracy, while keeping your data private and secure.

Over the past month, we’ve built fully-automated validation using two of the three most common financial reports. Here’s how it works:

We first generate a full Profit & Loss Statement and a Balance Sheet report using Digits’ internal, proprietary representation of your company’s financials. We then export the same P&L and Balance Sheet from your ledger’s API, for each month of your company’s history. Our validation pipeline then automatically compares them—line by line—guaranteeing that Digits’ representation of your data is accurate and that you can trust the numbers we display.

Automated Regression Detection

While validation is critical for all historical data, it’s meaningless for real-time transactions that have not yet hit your ledger. That’s where Digits’ online classification engine comes in.

We are constantly iterating and improving our algorithms to give you even better real-time insights into spend (with correct categorization and vendor identification), and it’s critical that those improvements don’t unintentionally regress other data points.

Over the past month, we’ve architected and implemented an automated classification regression monitor, which continuously watches a large and growing set of known-correct transactions from our sample data, and then automatically alerts on any unexpected changes.

This is just the start, and we continue to invest heavily in data validation, and data quality assurance.

There’s lots more we’ve been working on, though…

May Upgrade

Digits for Expenses

• Improved time-series navigation with “Jump to today” feature.
• Improved support for yearly period views.
• Stabilized transaction deep-link URLs.
• Polished commenting UX.
• Enhanced activity feed with additional event types.
• New UI for identifying unknown/novel transactions.

Digits Core

• Automated P&L and Balance Sheet validation.
• Automated regression detection.
• Improved anomalous transaction detection.
• Improved vendor identification for journal entry line items.
• Productionized automatic vendor deduplication.
• Implemented depreciation and amortization exclusions for expense analysis.
• Improved auto-reconciliation of source transactions across larger time windows.
• Productionized new recurrence detection algorithm.

Integrations

• Improved status monitoring of 3rd-party data providers.
• Tuned importer pipeline for performance and scale.
• Deployed API upgrades to improve imported data consistency.
• Improved handling of popular expense management software transactions.