Streamlined bookkeeping and direct supplier feeds: living the paperless dream
March 06, 2020

Streamlined bookkeeping and direct supplier feeds: living the paperless dream

Alvin Landicho | TrustRadius Reviewer
Score 7 out of 10
Vetted Review
Verified User

Overall Satisfaction with Hubdoc

We use Hubdoc with one of our larger accounting clients who use it as part of the software stack in the bookkeeping department. It's primarily used for automated feeds from suppliers including bank statements and other scanned in invoices to then be automatically filed by vendor which then archived in their preferred document management platform - ShareFile.
  • Extracts data from documents both from a feed and a scan really quick.
  • Availability of automated feeds directly from the supplier.
  • Integration with accounting software e.g. Xero (now owned by them) and QBO.
  • Ability to auto-archive to many different cloud storage locations such as Google Drive and ShareFile.
  • Ability to distinguish line details in an invoice.
  • Smarter AI/Machine Learning to improve process and remove manual processing.
  • Streamlined operations.
Receipt Bank essentially does the same thing as Hubdoc but while we were evaluating both products we found Receipt Banks data extraction a lot slower (sometimes 24-48hrs) compared to Hubdoc which was in minutes. Also, Hubdoc had a large library of direct feeds which was a plus for clients who used the supported suppliers.
At the time we implemented Hubdoc (more than 2 years ago) it was quite cutting edge and did have strong advances from the competition plus its pricing was definitely more competitive (flat rate vs price per data extraction model). However, currently the competition has caught up and now many of Hubdoc's core features are being built into online accounting software natively.

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For those that use Xero and would like to digitise their invoices, along with direct supplier feeds, very fast data extraction and auto-archiving it can really streamline your bookkeeping function in any business. We also integrated their scanner functionality into a custom mobile app that fed straight into the Hubdoc system with document notes via metadata tags.