A service offered by Digit.co provides automated financial management tools primarily designed for small business owners and freelancers. It connects to users’ bank accounts, analyzes their income and expenses, and then automatically sets aside small amounts of money for taxes, savings, and debt repayment. For example, a user might link their business checking account, and the service would then track revenue, estimate quarterly tax obligations, and automatically transfer funds into a dedicated tax savings account.
The value of such a system lies in its ability to alleviate the stress and time commitment associated with financial planning and compliance. By automating these processes, users can focus more on their core business activities. Historically, small businesses have struggled with consistent financial management due to limited resources and expertise; this type of service aims to bridge that gap.
