Sage adds new AI capability to further augment digital transformation for CFOs
28 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 US and multi-national companies
paying US vendors.
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.
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.
AvailabilityBill 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
contactMonique DanielSagemonique.daniel@sage.com(905)
781-0758
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.
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