Posts by:

Dakota Monk

Digits Achieves SOC2 Type I Compliance: Elevating Security Standards as the first SOC2 Compliant Accounting AI

In the ever-evolving landscape of financial technology, security stands as the foundation of what we do at Digits. Back in 2020 we partnered with the Financial Data Exchange to strengthen secure data access and late last year called for Open Accounting with the launch of Digits Connect, the world’s first API platform for the secure access and sharing of accounting data, giving businesses autonomy over their financial information. The future of accounting requires careful consideration of privacy, security, and compliance from the outset is key in the future of accounting and pivotal in consumers data protection and trust.

With accounting and finance more open than ever, Digits is protecting your data with even higher standards. Last year, we launched the first private, accurate, and secure finance AI developed for startups & accountants and is a testament to our security-first approach. Our proprietary financial modeling engine is secured with AES-256 encryption, advanced key protection techniques, and dedicated U.S.-based infrastructure to ensure our customer data is protected with rigorous defenses. This triple-tier approach ensures that data is secured against any potential threats.

Announcing SOC2 Type 1 Compliance

Today, we are thrilled to announce another significant milestone — Digits is SOC2 Type I compliant, further solidifying our position as the leader in security within the accounting AI space. Achieving this signifies that Digits has met rigorous standards for the security of our systems and the data we handle by the American Institute of Certified Public Accountants (AICPA).

SOC2 is the gold standard in the accounting industry. This attestation involves thorough audits, ensuring that Digits continuously prioritizes and upholds the trustworthiness of our users' financial information and data while helping to mitigate potential risks associated with data breaches and cyber threats. Architected by an industry-leading engineering team, Digits’ security posture includes regular audits and penetration testing, an intrusion detection system, and observability-minded approaches to network and infrastructure hardening, further establishing our commitment to maintaining the highest security standards in accounting.

Empowering Startups and Accountants Through Trust

Accountants have access to sensitive information and need a secure framework in place to protect such data. Being SOC2 compliant is not just a checkbox; it's a testament to Digits’ dedication to transparency, integrity, and the security of our customers’ financial information. As we continue to lead in the accounting AI space, SOC2 compliance empowers companies of all sizes to trust Digits with confidence when it comes to their accounting. Your data is not merely processed; it's handled with the utmost care and protection, allowing you to focus on growing your business while we take care of the security complexities.

Contact us if you’re interested in getting started

Continuing to lead — Our SOC2 Type II Journey

In the dynamic world of AI-driven finance, trust is earned through actions, not just words. Digits’ journey to SOC2 compliance reinforces our commitment to providing the most secure environment for your financial data. As we celebrate this achievement, we look forward to continually setting new benchmarks for security, innovation, and excellence in AI as we build the future of accounting. We're currently sitting for our SOC2 Type II observation window as we continue to strengthen our information security program and blaze new trails for the future of accounting. If you're interested in learning more about our SOC2 compliance you can visit the Digits Trust Center.

Welcome to Financial Reporting, Reimagined

In the world of business finance, we know that quick, data-driven, and easy-to-understand reports are not just a matter of convenience, but a critical requirement—so we’ve focused these last few weeks on pushing the bounds of what's possible.

Our most recent upgrades to Digits make reports far faster to create, easier to customize, and even smarter!

🚀 Unmatched Speed with Digits Reports

Gone are the days of crucial financial insights taking weeks to arrive. Thanks to a brand new technical architecture, Digits reports are faster than ever and now load in mere milliseconds. Imagine this - you're on the elevator up to an investor meeting and you generate a complete, data-rich report in the time it takes to ride up just one floor. This level of speed is about efficiency blended with real-time business decision-making and instant sharing of data-driven insights when you need them most.

Speed of Digits Report Creation

💬 One-Click Annotations

In the high-stakes, collaborative world of business finance, we know the value of a well-placed comment. With our new one-click annotation feature, adding notes to your reports is as seamless as a hover and a click. Share your thoughts, make key observations, tag your colleagues, add hyperlinks, or simply jot down important points right on the relevant part of the report.

commenting on a report

🔍 Data Exploration Unlocked

To unlock true business potential, it’s crucial to keep exploring – to keep asking questions and finding answers in the depths of your data. Powered by our advanced AI, hover-to-discover allows you to dive deeper into your data, unmasking trends beneath layers of transactions, and empowering you with an improved understanding of the dynamics within your business.

Hover to discover on Digits Reports

📊 Instant Trend Analysis

Understanding business trends is at the heart of strategic decision making. Add trendlines and deltas to reports so you can quickly and effortlessly tell the visual story you need. These visual cues can help you, your team, and your stakeholders get a deeper understanding of your financial data and the story it tells – further enabling you to steer your business decisions from an informed perspective.

Adding trendlines and deltas to Digits Reports

🧠 Sophisticated AI Assistance

We've integrated our groundbreaking Digits AI assistant directly into reports to make analysis even easier! Ask complex, tailored questions and let the AI guide you through the sea of data, all while generating insightful graphs you can directly drag into your report. Handling your financials has never been easier – or faster.

Asking Digits AI for help while building reports

With winter approaching, it may be a sign to cozy up and hibernate for some, but not for the team at Digits. We’ve got even more updates and enhancements lined up, so keep your eyes peeled here for what’s next – coming your way soon! 👀

Digits Updates: End of Summer Edition

Can you believe summer is drawing to a close already? Even though things are winding down, the team at Digits is charging full steam ahead. We’re excited to share a handful of new features, enhanced with Digits AI, that are sure to help further save you and your clients time, as well as increase your ability to customize Digits.

🤖 Reports: Now with Digits AI!

We've now added Digits AI to the reports builder. You can now toggle between the chart drawer and Digits AI when building your reports, allowing you to add charts and graphs that were previously unavailable. Prompt Digits AI and drag the chart directly from the answer to your report.

Dragging a chart created with Digits AI into a report

🙋‍♀️ Real-time Answers while viewing Reports.

Continuing with the theme of more options and interactivity, we've made Digits AI available to your clients while they view the reports you’ve shared with them! Now clients can ask questions and get answers in real-time, while those details are front of mind (Bonus: One less thing your client needs to bother you about).

asking Digits AI a question while viewing a report

📌 Information you need. Where you need it!

On the topic of keeping important details readily available for easy access and time savings, we've unlocked the ability for you to add information boxes from Digits AI directly onto you or your clients’ dashboard. Simply drag a text box over, and add any material needing quick or regular referencing to the dashboard. All the information you need, right where you need it!

Adding text to a client dashboard

🔍 Back by popular demand

Last and certainly not least - you've spoken, and we've listened. Search is back! Use search to quickly delve deeper into your data, to find vendors, customers, categories, and so much more.

We're thrilled to continue working on enhancing your experience with Digits AI and look forward to bringing you a ton more innovative, and impactful updates in the future.

We have so much more planned for the fall, and are just getting started!

Try Digits Today

Digits at Scaling New Heights

Each June, the brightest accounting and bookkeeping minds gather at Scaling New Heights (SNH) to share best practices and chart the future for the profession.

This year, Digits took center stage.

Our CEO, Jeff Seibert, gave the keynote presentation on AI and Accounting, exploring what our shared future looks likes and revealing how technology is poised to impact the industry in dramatic fashion over the next few years.

The energy and enthusiasm around SNH is always palpable, but this year there was heightened buzz given the rise of Large Language Models like ChatGPT and the new possibilities for automation that these unlock. On the flip side, 3rd-party LLMs also introduce privacy and security questions that become particularly poignant in the context of sensitive business finance data, so there were endless topics for discussion.

Launching Digits AI

In this environment, we were honored to have the opportunity to launch Digits AI, live in-person, and dive into the details of Digits' advanced security architecture. Over the course of the 3-day event, almost 1,000 accountants and bookkeepers stopped by our booth for hands-on demos and Q&A with our product designers and engineers.

Fireside Chat

Following the keynote, Jeff sat down with Joe Woodard, the host of SNH, for a candid discussion around the broader implications of AI, privacy and security concerns, and avenues for adoption within the accounting industry: