ReceiptBank has rebranded and relaunched itself this week, as ‘Dext’. Whilst on the surface, the logic behind the change seems lacking, when you look beyond the immediate situation, the justification and need for an updated message is clear.
What IS ReceiptBank / Dext?
ReceiptBank, for many business owners is a way to get information in a range of formats into a linked bookkeeping package, with minimal fuss and effort. There are many benefits to the system, which we offer free to our clients.
What’s actually changed?
Very little beyond the name of the App that we recommend, but the road map of the parent business is changing quite drastically, and the change of name, from ReceiptBank to Dext is designed to reflect that. The company wants to be known as more than ‘just’ a data capture App.
‘Dext’ reputedly an amalgam between ‘Next’ and ‘Dexterity’, which sounds great, but a little like something an over-zealous marketing consultant might have dreamt up! It’s one of those ‘non-words’ that spellcheckers just won’t let you type into a document, changes constantly to either ‘Text’ or ‘Next’ and insists on showing as a typo…
The idea is that the new brand will help make accountants and business owners more productive, profitable and powerful.
We’ll forgive Chief Executive Adrian Blair though, as he did open the recent announcement by calling accountants the ‘unsung heroes of the pandemic’ which bought him quite a lot of goodwill!
What’s changing in the Road Map?
1. The existing ReceiptBank App will now be known as ‘Dext Prepare’.
For those who are already using the software, your original ReceiptBank email addresses will remain in place and usable, and the software will be the same product you already know and love.
There is some new integration as part of the rebrand, which means that the software now links to Sage 50cloud and Quickbooks Online in the UK and Canada. There have also been some changes to banks statements and feeds, customer invoices and client onboarding.
2. Xavier Analytics – the data quality management App acquired last year, will now be rebranded ‘Dext Precision with Xavier’
Xavier is a side of the software that’s really aimed towards accountants, that allows them to gain insights into the data in a business. There have been some changes to the system dashboard.
3. Dext Pay – Not yet available.
A new App to allow users to check and manage payment within the central dashboard.
4. Two new products, dubbed ‘Dext X and Dext Y’ will follow.
So, why change at all?
The Data capture landscape has shifted drastically in recent years. Xero has acquired Hubdoc so has its own solution, while Sage now owns AutoEntry. Neither product offers equivalent functionality to ‘Dext Prepare’ (ReceiptBank), but that is likely to come in time. To survive and retain its position for innovation, Dext needed to make some changes.
Whether this is the right one, only time will tell!
Regardless of the name on the App, we still recommend the software, so if you’d like to save time, improve accuracy and streamline your processes, its certainly worth looking into implementing this option. Just don’t try to type it too often…..! 😉
If you’d like to know more about one of our free licences, and how best to integrate it into your business, please get in touch.
Find our more about the changes by visiting the Dext website.