Blockchain-enabled bookkeeping system to launch this summer
PeaCounts, a bookkeeping solution built on the NetSuite platform that leverages blockchain and artificial intelligence, will be launched this summer.
Currently in beta, PeaCount offers a dashboard and a mobile app that make it easy for business owners add receipts and transactions, and to keep track of their business.
The system uses artificial intelligence to help users identify transactions as they are entered and to manage daily bank reconciliations, while it uses blockchain to secure client data and prevent breaches through a “Blockchain of Identity” concept, so that only users have access to the data registered to them.
“Business owners will no longer require a dual-entry system with manual reconciliations,” said PeaCounts co-founder Crystal Stranger, in a statement. “Combined with machine learning, PeaCounts has developed a system that makes manual entry a thing of the past.”
An Enrolled Agent, Stranger was motivated to begin developing PeaCounts after seeing her business-owner clients come in with masses of receipts that they didn’t know what to do with, so she began working on the system with Viact Systems Inc. founder and accounting software developer Shashank Shukla.
PeaCounts says that it will work with a user’s current bookkeeper and tax professional to get data entered appropriately, and that it will offer them residual income to them – as well as including a feature that lets users book appointments with them directly through the solution’s dashboard and mobile app.
“To make bookkeeping easier, you don’t just need a software product, you need a team of real people and artificial intelligence that is constantly working to keep you up to date with where you stand financially,” Stranger said. “This is the future of business, available today. It’s like having a bookkeeper inside your phone.”
PeaCount will also have a “Smart CFO” to prepare budgets and financial projections instantly, and plans to develop a payment system powered by cryptocurrency tokens.