News Briefs

Docyt, the frontrunner in AI-driven accounting automation technology, is excited to introduce GARY, the world’s first AI bookkeeper. GARY combines Precision and Predictive AI models with Generative AI tools to streamline the digital back office for small and midsize businesses. It automates manual bookkeeping processes and accelerates the month-end close from a matter of weeks to just 45 minutes through continuous reconciliation. 

“Through GARY, businesses can now get real-time financials through continuous reconciliation - KPI tracking is also performed daily in real-time. This cuts down the month-end-close down to 45 mins whereas it can take up to 2 weeks for a typical business. What an exciting breakthrough for the accounting world and, frankly, for any growing business!” said Sid Saxena, co-founder and CEO of Docyt. “Today, the accounting field is cluttered with point solutions. Docyt eliminates this with one powerful solution: integrating everything through AI-powered workflows for expense management, revenue accounting, and robust industry vertical reporting KPIs, forming a seamless ecosystem.” 

Automating the Accounting Workflow

The GARY (Generative Accounting Retrieval sYstem) AI bookkeeper is built on the powerful Docyt AI SaaS platform that brings a revolutionary new approach to accounting automation, integrating workflows such as expense management, revenue accounting, industry vertical reporting, and financial reporting of key KPIs.

Accelerated Month-End Close

Docyt’s new AI bookkeeper makes month-end closing seamless and efficient, compressing a process that used to take 2+ weeks into just 45 minutes. By automating every aspect of the monthly accounting workflow, Docyt AI prepares the month-end close and makes the closing process a formality.

Effective Account Management Through GARY: Enhances account management by providing real-time assistance and key insights into financials, making it easier for account managers to handle their responsibilities effectively and accurately.

Efficient Document Retrieval and How-Tos: GARY transforms the laborious process of finding the right documents and understanding procedures into a swift and straightforward task using natural language and AI-driven assistance.

QuickBooks Integration

GARY integrates seamlessly with QuickBooks, eliminating the need to migrate to a new ledger system. With an estimated 80% of SMBs running on QuickBooks, Docyt’s new AI bookkeeper gives these businesses an easy way to harness the power of AI without abandoning their legacy financial workflow.

Revitalizing the Accounting Profession

The accounting profession in the United States has been in steady decline for the past decade, with enrollment in college-level accounting programs falling each year. Consequently, the number of candidates sitting for the CPA exam is receding at an annual rate of seven percent. Compounding the problem, an estimated 75% of actively practicing accountants are now eligible for retirement. According to the U.S. Bureau of Labor Statistics, these and other factors fuel a projected annual vacancy of approximately 136,400 accounting and auditing jobs. With fewer individuals entering the accounting workforce as most accountants prepare to retire, the U.S. faces an accountant shortage that will continue to worsen if not proactively addressed. Equipping accountants with modern tools like Docyt’s new AI bookkeeper will breathe new life into the accounting profession by helping them perform their jobs more efficiently and deliver greater strategic value to their clients.

PopID and Steak n Shake announced today that all Steak n Shake locations in the United States now accept PopID Check In (to review favorite orders and loyalty points) and PopPay for checkout. With more than 300 locations, Steak n Shake is the first national restaurant brand in the United States to adopt biometric check-in and checkout nationwide. PopID’s biometric check-in feature makes kiosk ordering faster, easier, and more personalized.

The implementation of PopID in every Steak n Shake location was accomplished rapidly and at low cost through a partnership between PopID and ACRELEC, a leading supplier of kiosk-ordering hardware and drive-through products. Cameras were shipped to every restaurant for attachment to the existing ACRELEC kiosks. “As explained in our recent publication, ACRELEC believes that our integrated biometric solution provides various benefits to restaurant operators related to throughput, ticket size, and loyalty engagement,” says Bruno Lo-Re, President of ACRELEC America.

“We are thrilled about our partnership with PopID and to be on the edge of biometric technology for the benefit of our customers. Our guests now have the option to use biometrics for a faster and more seamless experience,” says Sardar Biglari, Chairman of Biglari Holdings, the parent company of Steak n Shake.

Now that biometrics are enabled for all ordering and payment inside Steak n Shake restaurants, PopID and Steak n Shake will begin implementing biometric check-in and checkout at the restaurant’s drive-through units. “Similar to the kiosks, biometric check in can increase loyalty participation and revenue at the drive thru while also reducing payment processing costs,” says John Miller, CEO of PopID and Chairman of Cali Group. “Additionally, biometric payment at the order confirmation screen enables staff members to work on tasks other than taking payments by card and phone at the order pick-up window.”

Beef 'O' Brady's, the family sports bar and grill chain is colloaborating with SoundHoundAI to enable customers to place phone orders for pickup. The popular restaurant chain operates in more than 20 states across the US.

Initially live in all corporate locations — and now available for integration into franchises — SoundHound’s voice AI technology is trained on Beef 'O’Brady’s extensive menu and designed to understand regular human speech so that customers can order by speaking naturally.

The system is highly accurate, and even during busy periods the AI answers 100% of calls — including taking multiple orders simultaneously — allowing Beef 'O' Brady's staff to concentrate on preparing delicious meals and providing excellent service to in-store patrons.

• Related: Advances in AI Fix Common Customer Pain Points

Now, as the nation gears up for the 2024 Summer Olympics, Beef 'O' Brady's customers can enjoy the convenience of ordering their favorite meals seamlessly using SoundHound's automated AI ordering system. Whether hosting a viewing party at home, or enjoying the games with family, fans can be confident their phone orders will be captured and processed quickly and accurately.

Beyond taking orders, SoundHound’s AI technology can answer a variety of menu-related questions, provide information about specials and promotions, and handle inquiries about opening times, parking, allergens, and other frequently asked questions.

“At Beef ‘O’ Brady’s, we’re committed to innovation and customer satisfaction,” said Jason Saposnik, VP of Information Technology at Beef 'O' Brady's. “With SoundHound, we’re integrating cutting-edge AI technology to make ordering food as simple and natural as possible, allowing our staff to focus on what they do best — serving great food and experiences. We’re ensuring that every interaction with Beef ‘O’ Brady’s is smooth and enjoyable.”

SoundHound AI continues to expand its footprint in the restaurant industry, supported by a recent consumer study, commissioned by the company, revealing that nearly 80% of regular diners in the U.S. believe that AI voice assistants will handle most food ordering in the next few years. SoundHound’s voice AI solutions are already deployed in over 10,000 restaurant locations, with solutions for phone, drive-thru, kiosk, headset, and other devices. SoundHound also recently acquired Allset, an online ordering platform that connects restaurants and local customers, to further increase the company's restaurant industry relationships and reach.

“As consumer preferences shift towards convenience, optimizing the ordering experience is essential for restaurants,” said James Hom, Chief Product Officer at SoundHound AI. “Beef 'O' Brady's is leading the way in embracing AI technology, enhancing customer interactions throughout their journey. We are thrilled to partner with them to advance the dynamic restaurant landscape, and to continue to expand our footprint in the restaurant space.”

For more information about SoundHound AI’s restaurant solutions, visit www.soundhound.com.

Freddy’s Frozen Custard & Steakburgers is leveraging Domo’s Data Science Suite to gain further insights into the restaurant’s data, giving franchisees the ability to optimize pricing and model menu mix.

Founded in 2002 with a single restaurant in Wichita, Kansas, and franchised in 2004, Freddy’s has more than 500 locations in 36 states. 

Freddy's Data Science Journey

When the restaurant chain first began its data science journey, it not only struggled with a lack of technology but also a lack of perspective. The path of incorporating Machine Learning (ML) and Artificial Intelligence (AI) into the business wasn’t well conceived, so its first pilot engagement with another platform did not successfully extract value or return on investment.

• Related:  83% say using data to understand guest preferences and behavior is impacting POS upgrade decisions in 2024, according to HT’s 2024 POS Software Trends Survey

After evaluating their experience with the pilot engagement, the restaurant chain knew it would need a different partner and approach to sell the initiative to the leadership team. As a long-time Domo customer, Freddy’s turned to Domo for the restaurant’s next attempt at data science. Freddy’s started working with Domo’s experienced data science consultants and set out to better understand its restaurant quality data so it could become more easily consumable.

“Before selecting Domo for our Data Science needs, we were too focused on accomplishing a goal and not on the quality of the journey. When we took a step back, we realized that the solution was right there in front of us: Domo has delivered great value for Freddy’s, and our C-suite trusted Domo with our data and business, so the Domo Data Science Suite was an easy choice,” said Sean Thompson, Vice President of IT at Freddy’s. “Our major takeaway from this experience is our invaluable, lasting partnership with Domo. When making these kinds of business decisions, we have to make sure we’re working with someone that not only has the data science chops but is willing to go along the journey with us and understands the importance of education and sharing.”

With Domo, Freddy’s quickly achieved several immediate wins and launched and optimized a new guest loyalty program to effectively incentivize its most high-value guests. In addition, the restaurant chain gained the ability to accurately score locations so it could conduct A/B testing initiatives like price optimization and menu mix modeling.

“Freddy’s saw the value of Domo when they first became a customer in 2015, but when they came to us for more data science needs, we were excited to support and give the talented team the confidence they needed to power data science insights,” said Mark Maughan, chief analytics officer and SVP of customer success at Domo. “With the number of guests Freddy’s serves daily, it’s important that they have the training and solutions they need to understand and leverage data at every Freddy’s location, and we are proud that they are using Domo as a critical part of that solution.”

To learn more about how innovative organizations like Freddy’s are using Domo to put data to work for everyone, visit www.domo.com/customers.

Olo Inc. announced Loyalty for Borderless Accounts, a new feature that allows guests to earn, redeem, and use rewards from a brand’s existing loyalty program through Olo’s seamless, passwordless guest checkout solution. Additional product capabilities are now available across all three solution suites: Order, Pay and Engage. 

Simplifying the Checkout Process 

Olo customers leveraging Borderless functionality can now make the checkout process even more enjoyable for guests with new capabilities that allow guests to create and link new or existing loyalty accounts directly to a new or existing Borderless account. Borderless simplifies the checkout process for guests by eliminating the need to remember a password or manually enter credit card information at every purchase across any participating Olo brand, helping restaurants meaningfully increase basket conversion, guest retention, and visit frequency while gaining valuable guest data.

• Olo's Innovator Makes Leap From Media to Product Marketing

“At Olo, we innovate to both anticipate and meet the needs of our restaurant customers, with the goal to help them drive sales and make every guest feel like a regular,” said Jo Lambert, Chief Operating Officer at Olo. “Loyalty for Borderless accounts allows our customers and their guests to take advantage of our exceptionally convenient checkout process while unifying rewards from their loyalty provider that keep them coming back for more. This feature and the 18 other cutting-edge capabilities launched this quarter further enhance Olo’s three solution suites designed to seamlessly work together as part of a larger flywheel to accelerate hospitality and business growth.”

More Product Enhancements 

Additional product enhancements introduced this quarter include Marketing A/B Testing for Email Campaigns, Catering+ Order Management, Order with Google Enhanced Redirect, and POS Menu Builder for brands using Toast.

• Olo Engage customers leveraging its Marketing solution can develop Marketing A/B Testing for Email Campaigns to seamlessly trial variations in subject lines or body content and ensure the best-converting messaging is deployed for guest engagement initiatives.
• Designed to retain high-value guests, Catering+ Enhanced Order Management empowers select customers using its intuitive phone order management tool, Switchboard, to apply a subtotal discount to catering orders in an effort to surprise and delight valuable guests and grow long-term loyalty. In addition, this functionality streamlines the payment process for delivery orders by allowing guests to pay using their personal device rather than verbally over the phone.
• Following Google transitioning its embedded ordering experience to redirected third-party providers, Olo created Order with Google Enhanced Redirect. This integration provides Google real-time location and menu updates, conversion tokens, and action links to help brands drive more direct orders, generate higher revenue, improve guest experiences, and gather more actionable, first-party guest data.
• Available to brands using Toast, Olo’s POS Menu Builder imports digital menus into the Olo platform in less than a day, accelerating the onboarding process for new customers while reducing the pain points that often come with switching online ordering platforms. It also allows existing customers to quickly launch new menu items across multiple owned and third-party ordering platforms.

To learn more about the features announced during Olo’s Summer Release event visit: https://www.olo.com/quarterly-release/summer-2024 and request a demo here: https://www.olo.com/contact/sales.