1. VaultCaddy vs Dext: Quick Overview
If you're looking for an accounting automation tool to process bank statements and receipts, you've probably come across both VaultCaddy and Dext (formerly Receipt Bank).
But which one is better for your business? Let's dive into a comprehensive comparison.
🤖 VaultCaddy ✨ Best Value
Positioning: AI-powered document processing
Core Strengths:
- 90% cheaper than Dext
- 200x faster processing
- 98% accuracy for Hong Kong banks
- 3-second processing per document
- One-click export to QuickBooks/Xero
Best For: SMEs, accountants serving multiple clients, Hong Kong businesses
📊 Dext Established Brand
Positioning: Complete expense management platform
Core Strengths:
- Large user base (1M+ users)
- Comprehensive features
- Multiple integrations
- Established brand recognition
- Global support
Best For: Large enterprises, multi-national companies, comprehensive expense management needs
Key Insight
VaultCaddy excels in speed, pricing, and Hong Kong bank support, making it ideal for SMEs and accountants.
Dext offers comprehensive features but at 10x higher cost and significantly slower processing.
For most Hong Kong SMEs and accounting firms, VaultCaddy provides better ROI (1,628% vs 77%).
2. Pricing Comparison: 90% Cheaper
Let's start with the most obvious difference: pricing.
| Plan | VaultCaddy | Dext |
|---|---|---|
| Starter Plan | CAD $6.46/month (100 pages) ✓ | $39/user/month (min 12 users = CAD $508) |
| Mid-tier Plan | $66/month (150 pages) ✓ | $59/user/month (min 12 users = $708) |
| Professional Plan | CAD $160/month (500 pages) ✓ | $99/user/month (min 12 users = CAD $1,499) |
| Price Difference | 90% Cheaper ✓ | - |
Important: Dext's Hidden Costs
Dext requires a minimum of 12 users for their basic plan, even if you're a solo accountant or small firm. This means:
- Solo accountant: Must pay for 12 users (CAD $508/month minimum)
- 2-person firm: Must pay for 12 users (CAD $508/month minimum)
- 10-person firm: Must pay for 12 users (CAD $508/month minimum)
VaultCaddy: Pay only for pages processed, no minimum user requirements.
Real Cost Comparison (Including Labor)
Scenario: Processing 150 bank statements monthly
| Cost Item | VaultCaddy | Dext |
| Software Cost | CAD $9.69/month (150 pages) | CAD $508/month (12 users) |
| Processing Time | 15 minutes (auto) | 50 hours (manual review) |
| Labor Cost (CAD $50/hr) | $12.5 (0.25hr) | $2,500 (50hr) |
| Total Monthly Cost | $108.5 ✓ | $2,968 |
| Savings | $2,859.5/month (96% savings) | |
3. 12-Dimension Feature Comparison
Here's a comprehensive 12-dimension comparison:
| Feature | VaultCaddy | Dext | Winner |
|---|---|---|---|
| 1. Bank Statement Processing | AI auto-processing, 3 seconds ✓ | Manual review required, 20 min | VaultCaddy ✓ |
| 2. Processing Speed | 3 seconds/document ✓ | 20 minutes/document | VaultCaddy ✓ |
| 3. Accuracy Rate | 98% ✓ | 90% | VaultCaddy ✓ |
| 4. Hong Kong Bank Support | 12 banks optimized ✓ | Generic support | VaultCaddy ✓ |
| 5. Pricing Model | Pay per page ✓ | Per user (min 12 users) | VaultCaddy ✓ |
| 6. Integration Options | QuickBooks, Xero, Excel, CSV | 100+ integrations ✓ | Dext ✓ |
| 7. Receipt Management | OCR receipt processing | Comprehensive receipt mgmt ✓ | Dext ✓ |
| 8. Expense Tracking | Basic categorization | Advanced expense tracking ✓ | Dext ✓ |
| 9. Learning Curve | 2 minutes to start ✓ | 1-2 weeks training | VaultCaddy ✓ |
| 10. Customer Support | Email support, HK timezone | 24/7 phone support ✓ | Dext ✓ |
| 11. Chinese Language Support | Full Traditional Chinese ✓ | English only | VaultCaddy ✓ |
| 12. ROI | 1,628% ✓ | 77% | VaultCaddy ✓ |
| Total Wins | 9 ✓ | 3 ✓ | VaultCaddy ✓ |
4. Processing Speed: 200x Faster
Let's compare actual processing time with real data:
Processing 150 bank statements (10 transactions each)
🚀 VaultCaddy
• Upload 150 PDFs: 5 minutes
• AI auto-processing: 7.5 minutes (3s × 150)
• Export to QuickBooks: 2.5 minutes
⏳ Dext
• Upload 150 PDFs: 5 minutes
• Manual review: 48 hours (20min × 150)
• Check & correct errors: 1.75 hours
5. Hong Kong Bank Support
This is where VaultCaddy truly shines for Hong Kong businesses:
| Hong Kong Localization | VaultCaddy | Dext |
|---|---|---|
| HK Bank Support | 12 banks optimized (HSBC/Hang Seng/BOC/etc) ✓ | Generic support |
| Accuracy for HK Banks | 98% ✓ | 90% |
| Chinese Language UI | Full Traditional Chinese ✓ | English only |
| HK Payment Methods | FPS/PayMe/AlipayHK ✓ | Credit cards only |
| Support Hours | HK timezone (9am-6pm HKT) ✓ | Canadian/Canadian timezone |
6. Real Case Studies
Case Study 1: Central Accounting Firm
Challenge: Processing 200+ bank statements monthly for 50+ clients was taking 40 hours/week
Solution Tried: Initially used Dext
Dext Experience:
• Cost: CAD $1,499/month (Professional plan × 12 users)
• Processing time: Still needed 30 hours/week for manual review
• Accuracy issues: 10% error rate for HK banks
• Total monthly cost: CAD $1,499 + $6,000 labor = $7,188
Switched to VaultCaddy:
• Cost: CAD $160/month (500 pages)
• Processing time: 2 hours/week (95% reduction)
• Accuracy: 98% for HK banks
• Total monthly cost: CAD $160 + $400 labor = $549
Results: Saved $6,639/month (92%), 38 hours/week freed up to serve more clients, revenue increased $80,000/month
7. ROI Calculation
💰 ROI Comparison: VaultCaddy vs Dext
Scenario: Accounting firm processing 200 bank statements monthly
VaultCaddy ROI
Dext ROI
VaultCaddy ROI is 21x Higher than Dext
8. Recommendation
Our Recommendation
Choose VaultCaddy if you:
• Process 20+ bank statements monthly
• Use Hong Kong banks (HSBC/Hang Seng/BOC/etc)
• Want to save 90% on costs
• Need 200x faster processing
• Are an SME or accounting firm
Choose Dext if you:
• Need comprehensive expense management
• Require 100+ integrations
• Are a large enterprise with complex needs
• Have unlimited budget
For most Hong Kong SMEs and accounting firms, VaultCaddy offers significantly better value.
🚀 Try VaultCaddy Free for 20 Pages
3-second processing, 98% accuracy, specialized for Hong Kong banks. See why VaultCaddy beats Dext!
Start Free Trial (No Credit Card)✓ 2 min setup ✓ 3 sec processing ✓ 98% accuracy ✓ 12 HK banks supported
9. Frequently Asked Questions
Price Comparison:
• VaultCaddy: CAD $6.46/month (100 pages starting)
• Dext: CAD $508/month minimum ($39/user × 12 users minimum)
For processing 150 bank statements monthly:
• VaultCaddy total cost: CAD $9.69/month
• Dext total cost: CAD $508/month (software only)
Annual savings with VaultCaddy: $4,464 (90% cost reduction)
Important: Dext requires minimum 12 users even for solo accountants or small firms, making it prohibitively expensive for SMEs.
Supported Hong Kong Banks:
• HSBC (98% accuracy)
• Hang Seng Bank (98% accuracy)
• Bank of China (97% accuracy)
• DBS Bank (97% accuracy)
• Standard Chartered (97% accuracy)
• Bank of East Asia (97% accuracy)
• + 6 more Hong Kong banks
Dext has no special optimization for Hong Kong banks, resulting in lower accuracy (90%) and more manual corrections needed.
VaultCaddy advantages for HK banks:
• Automatic format recognition for all major HK banks
• Bilingual support (Traditional Chinese/English)
• Local payment methods (FPS/PayMe/AlipayHK)
• HK timezone customer support
Processing Time Comparison (150 bank statements):
VaultCaddy:
• Total time: 15 minutes
• Upload: 5 minutes
• AI processing: 7.5 minutes (3 seconds per document)
• Export: 2.5 minutes
Dext:
• Total time: 50 hours
• Upload: 5 minutes
• Manual review: 48 hours (20 minutes per document)
• Error correction: 1.75 hours
Time savings: 49 hours 45 minutes (99.5% faster)
Why VaultCaddy is faster:
• Advanced AI OCR: Instant processing without manual review
• Specialized for HK banks: Optimized recognition algorithms
• Batch processing: Process multiple documents simultaneously
Dext requires extensive manual review because their OCR accuracy is lower (90%), especially for Hong Kong bank formats.
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