Sage adds new AI capability to further augment digital transformation for CFOs
23 Februar 2022 - 3:00PM
Sage (FTSE: SGE), the leader in accounting, financial, HR, and
payroll technology for small and mid-sized businesses, today
announced the availability of Sage Intacct 2022 Release 1 (Release
1). The latest release provides businesses with artificial
intelligence (AI) and machine learning (ML) tools that support
finance leaders to make the best use of digitalized data to help
identify anomalies and automate key processes.
Connected to the Sage Digital Network, Sage
Intacct allows work, information, and money to flow smoothly
between Sage customers, and the suppliers, banks, and government
bodies they do business with. The enhanced flow of trusted
information and digitalized data provided by Release 1 enables AI
to extract insights and patterns across key financial processes.
This supports customers to better understand friction points,
identify patterns, and review anomalies from across their business
– all without the user or the data leaving Sage Intacct.
“Sage Intacct customers are highly digitally
determined, with over 70 percent of their financial workflows
already automated. More than ever before, Sage is committed to
building platforms and systems that empower customers to run
smarter, more digital organizations,” said Dan Miller, EVP of Sage
Intacct. “We’ve listened to our customers and understand their
drive towards digital transformation, this release is yet another
example of Sage delivering on those needs.”
Accounts Payable Automation
- Automated AP processing all within
Sage Intacct - Reducing the need for the user, or the data
to leave Sage Intacct, enabling a smoother user experience, and a
lowered, single system cost for customers
- New scanning and vendor payments capabilities enable an
automated end-to-end AP workflow from receive, process, pay, and
reconciliation without leaving Sage Intacct -including bill
creation, paperless approvals, payment processing, reconciliation,
and reporting.
- Additionally, bills and payments for multiple business entities
can be processed from within Sage Intacct.
- Manual tasks managed by AI - shifting focus
from data entry to higher value, strategic work.
- Customers can access an intelligent digital assistant, to scan
vendor bills, match them to the right vendor, and create a draft
bill record
- Use AI to identify duplicate and erroneous bills. Bills that
require manual intervention are highlighted to empower users to
quickly identify and address exceptions.
- Run daily reconciliation in minutes with automated bank
downloads and auto-matching between payments and bank statements,
all while eliminating manual data reconciliations between
systems.
- Digitally connect to banks, vendors, and payment processors
using Vendor Payments powered by Corporate Spending Innovations
(CSI) to automate payments for U.S. and multi-national companies
paying U.S. vendors
“We’re thrilled about this strategic
partnership, which combines CSI’s advanced payments processing
technology with market leader Sage Intacct’s financial management
solution,” said David Disque, President of Corporate Spending
Innovations. “CSI’s fully embedded integration will leverage CSI’s
robust API library and result in a frictionless user experience.
Accounts payable teams will have a complete solution of secure
payment workflow and efficient digitization of all B2B payments
without having to leave the product."
Miller goes on to say, “We know that AP teams
still enter invoice details manually. This end-to-end automation
means customers can receive, process, pay, and reconcile a bill
without leaving Sage Intacct. This removes friction from their
business and the risk of fraud from the process. Our customers have
a more accurate view of their cash flow, and the supplier gets paid
quicker. This is digital transformation in action.”
Outlier Detection for General
Ledger Following the launch last year of Outlier Detection
for General Ledger, Sage is the first and only mid-market cloud
accounting solution to use AI to increase confidence in the
accuracy of general ledger transactions. Auto-generated flags
appear for entries that don’t match past transaction patterns,
enabling errors to be caught before making their way into financial
reporting and reaching stakeholders.
Sage Intacct 2022 Release 1 updates to this
feature include customizable approval routing to send outliers back
to the originator to be fixed. This routing enables the GL Outlier
Assistant to be used by more Sage Intacct users, not just those who
route to journal entry approvers. For those that do route to an
approver, entries can now be sent back to the originator first.
Contract renewalSage Intacct
provides deep capabilities for software and SaaS companies to scale
their accounting, subscription billing, and revenue recognition
while providing crucial visibility into SaaS metrics.
Release 1 updates to this feature include:
- Contract renewal forecasting provides customers with
forward-looking visibility and a more complete forecast for
recurring revenue. Customers can analyze billings, revenues, and
payments for upcoming contract renewals, and decision-makers can
see what is booked and what is expected to be booked.
- Customers can use Sage Intacct Custom Report Writer,
Interactive Customer Report Writer, as well as Interactive Visual
Explorer, to report, slice and dice, as well as visualize
forecasted contract renewal information for greater data-driven
insights.
Availability
- Bill scanning is in the Early Adopter phase in the US, with
additional regions coming in March.
- Vendor Payments is Generally Available in the US, with more
regions to come.
- Outlier Detection for General Ledger and Contract Renewal is
available for all Sage Intacct geographies.
Media contact:Peter
Olsonpeter.olson@sage.com408-878-0951
About SageSage exists to knock
down barriers so everyone can thrive, starting with the millions of
small- and mid-sized businesses served by us, our partners, and
accountants. Customers trust our finance, HR, and payroll software
to make work and money flow. By digitizing business processes and
relationships with customers, suppliers, employees, banks, and
governments, our digital network connects SMBs, removing friction
and delivering insights. Knocking down barriers also means we use
our time, technology, and experience to tackle digital inequality,
economic inequality, and the climate crisis. Learn more at
www.sage.com/en-us/ and www.sageintacct.com.
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