'Oficin' Takes the Constant Bookkeeping Out of Receipt Tracking
Michael Hemsworth — November 15, 2016 — Lifestyle
'Oficin' is a revolutionary new way to partake in receipt tracking without having to constantly remember to log different transactions or search endlessly for different receipts. 'Oficin' works by enabling users to set up their digital receipts to be automatically transferred over to the platform. The program will then extract the data and provide it to users in a convenient spreadsheet to be used for bookkeeping or invoicing purposes.
Although great for professionals, 'Oficin' is ideal for virtually anyone who partakes in receipt tracking to effectively eliminate the need to constantly update various documents or chits. This can help with those who have a set budget or who are aiming to take a closer look at their spending in order to decrease their monthly spend.
Although great for professionals, 'Oficin' is ideal for virtually anyone who partakes in receipt tracking to effectively eliminate the need to constantly update various documents or chits. This can help with those who have a set budget or who are aiming to take a closer look at their spending in order to decrease their monthly spend.
Trend Themes
1. Automated Receipt Tracking - Opportunities for developing apps that can enable automated receipt tracking and bookkeeping.
2. Data Extraction and Analysis - Disruptive innovation opportunities lie in developing platforms that automatically extract and analyze data from receipts for financial reporting purposes.
3. Integration with Other Tracking Systems - Integrating receipt tracking software with other financial tracking systems, such as expense management apps, could provide opportunities for streamlining financial processes.
Industry Implications
1. Accounting and Bookkeeping - The accounting and bookkeeping industry could benefit from incorporating automated receipt tracking software to streamline their internal processes.
2. Financial Technology (fintech) - Fintech companies could disrupt the market by integrating receipt tracking software with their existing offerings to provide a comprehensive financial management solution.
3. Retail - Retailers could develop their own receipt tracking system to better understand customer shopping habits and improve targeted marketing efforts.
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