Accumatic automates the conversion of factory parts statements into post-ready documents, integrating directly with any dealership management system (DMS) to streamline accounting processes. This technology reduces the time spent on report generation from hours to minutes, minimizing errors and eliminating the need for manual data entry.
Funding
$2.5M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Automotive dealerships spend significant time manually converting factory parts statements and other financial documents into formats suitable for their dealership management systems (DMS). This manual data entry is prone to errors, requires extensive cleanup, and delays financial reporting.
Solution
Accumatic provides an automated accounting solution that converts unstructured data from factory reports, OEM payables, and third-party financial documents into post-ready formats for any DMS. The platform leverages machine learning and OCR technology to extract data from various file types, including PDFs, Excel spreadsheets, TXT files, and CSVs. Accumatic automates reconciliation processes, including OEM parts statements, bank statements, and flooring reconciliations, reducing posting times from hours to minutes. By automating data extraction, transformation, and posting, Accumatic eliminates manual data entry, minimizes errors, and streamlines accounting workflows for automotive dealerships.
Target Audience
Accumatic targets automotive dealerships, dealer groups, and accounting professionals within the automotive industry seeking to automate and streamline their accounting processes.
Features
- Automated conversion of factory parts statements into post-ready documents with VIN to stock or customer number lookups
- Automated coding of OEM and third-party F&I remittances, funding notices, and dealer reserve statements
- Streamlined payroll and benefits processing with automated upload of medical, dental, vision, and 401(k) reports
- Reconciliation of OEM parts statements in seconds, identifying discrepancies for quick resolution
- Bank account balancing and correcting entry handling
- OCR technology for data extraction from scanned images, PDFs, and other file formats
- Data transformation capabilities for seamless integration with any DMS
- Support for various report types, including factory reporting, rebates and incentives, holdback credits, floorplan credits, advertising credits, wholesale credits, warranty claim credits, parts invoices, statement reconciliations, and miscellaneous expense invoices
- Support for third-party and F&I reporting, including vehicle service contracts, GAP remittances, prepaid maintenance, wheel and tire remittances, key remittances, finance reserve statements, and funding notices
- Support for other reporting needs, including payroll imports, benefits, flooring reconciliations, tech flag postings, bank statement reconciliation, new vehicle invoice posting, licensing remittances, and credit card recons