Dext

A software company that automates bookkeeping for accountants and small businesses, formerly known as Receipt Bank. It has a UK region among its listed sites.

About Dext

Dext makes software that automates bookkeeping. It captures receipts and invoices, links to accounting software and handles payments, using AI and machine learning to save accountants and businesses from typing in data by hand. It was formerly called Receipt Bank and rebranded as Dext in February 2021.

Receipt Bank was founded in 2010 in London. A 2017 UKTech interview with director Michael Wood says that about ten years earlier he ran a small business and found a firm called Receipt Farm that read data from receipts, then bought it when it was closing down, and "From that telephone conversation Receipt Bank was born." The wider founding team is not named on the pages we read. A 2023 interview says Dext has a presence in the USA, Canada, France, Australia and New Zealand, and a development centre in Bulgaria for its AI and engineering teams, with about 430 staff at the time. Sabby Gill has been chief executive since October 2022, after earlier roles at Sage, Epicor and Thomas International.

Dext's own About page gives its purpose as "Time for business" and its vision as to "make accounting effortless". It says it uses technology to help businesses, bookkeepers and accountants make better decisions and save time. The same interview quotes Sabby Gill saying his focus is giving every employee the tools and processes they need to do their job.

Its products include Prepare, the core product for data extraction, receipt capture and workflows; Precision, which spots errors and gives bookkeeping health scores; and Commerce, which brings in sales data from platforms such as Etsy, eBay, Shopify and Amazon. The 2023 interview says Dext works with Xero and QuickBooks, can integrate with more than 25 accounting systems, and has relationships with about 11,000 accountants and over a million end users, which are company figures that may have changed.

For young people, Dext is useful to know because it sits between accountancy firms and software, with roles in engineering, AI, product, marketing and customer support. The interview and About page do not describe its culture in detail, and we did not read its UK roles or find an early-careers programme, so check its careers page. Its UK site lists the UK as a region, and its London roots are described in the 2017 interview.

What they do

• {'desc': 'Reading paperwork automatically.', 'title': 'Receipt and invoice capture'}
• {'desc': 'Sending data to the books.', 'title': 'Accounting software links'}
• {'desc': 'Spotting bookkeeping errors and giving health scores.', 'title': 'Precision'}
• {'desc': 'Helping firms handle more clients.', 'title': 'Tools for accountants'}

Key facts

• Formerly Receipt Bank (founded 2010, London); renamed Dext in February 2021
• Chief executive: Sabby Gill (since October 2022)
• Purpose: Time for business; vision: make accounting effortless (Dext About page)
• Products: Prepare, Precision, Commerce (2023 interview)

Website: dext.com