Sage Intacct adds AI functionality for AP automation
Sage, provider of accounting, HR and payroll software, recently released a series of updates to its Sage Intacct platform. These upgrades aim to help business owners streamline and enhance financial operation workflows and add an extra layer of security to their offerings. We highlight some of the new functionalities below.
Sage Intacct upgrades AP automation features
The update’s primary goal is to help businesses process bills and customise workflows more efficiently. Sage cites the example of users in the United States who process over 10,000 bills each month. Using AI, Sage Intacct can reduce the time it takes for accounts payable (AP) to process by roughly 50%. This, in turn, saves companies upwards of $100,000 per year.
Intacct streamlines financial workflows by automating bill drafting from uploaded documents, removing duplicate information and reducing data entry overhead. It also helps mitigate user errors and data redundancy.
Speaking on the new features, Dan Miller, EVP of Financials and ERP Division at Sage, stated: “Supporting our customers to focus on growing their business is fundamental to the technologies we are building. AP Automation is a prime example of this and makes us the first mid-market solution to offer this outside of the US.
What’s more, our ongoing global expansion and the achievement of significant certifications, showcase our commitment to providing globally compliant, secure, and robust financial solutions that meet the diverse needs of businesses everywhere.”
Sage Intelligent Time
The newest round of updates to Sage Intacct introduces the Sage Intelligent Time feature. An enhanced AI helps users create activity title cards that are more descriptive and give them the option to use automatic time entry descriptions. The goal of this add-on is to improve clarity for both approvers and end-users. The feature is available in the United States, Canada, Australia, South Africa and the United Kingdom.
Automated Employee Expense Submissions
Available to users in the United States, the Automated Employee Expense Submission allows members to email receipts from any device. Meanwhile, AI and machine learning (ML) algorithms work in the background to enhance coding accuracy and learn from (and adapt to) user modifications to further enhance future submissions. This simplifies the expense reporting process and optimises expense reporting workflows.
Interactive Custom Report Writer
The Enhanced Interactive Custom Report Writer (ICRW) gives customers expended and actionable insights, helping improve compliance and operational activities. Customisable reports through the ICRW offer more detailed views on order summaries, customer ageing and purchasing activities. With these expanded insights, business owners can make better data-driven decisions and take action more efficiently. The ICRW feature is available globally.
Email Delivery and Insights
Another feature of the Sage Intacct upgrade revolves around email delivery and reporting. In the newest update, Sage incorporates an enhanced email delivery system that utilises DomainKeys Identified Mail (DKIM) to make sure emails arrive at their intended destinations securely. In addition, the delivery system provides detailed logging allowing for better visibility and support for multiple domains and subdomains. This feature is again available globally.
Other Sage Intacct updates
In addition to the feature updates listed above, Sage Intacct brings the following AI features and functionality to its AP Automation software:
- Sage Intacct Financials Certified by AFNOR in France
- German Electronic Tax Submission
- Sage Intacct and Kanso Solution for Affordable Housing (US and Canada)
- Hold and Resume Contact Schedules (US, Canada, Australia, South Africa, and UK)
- Exporting Taxable Payments and Annual Reports (Australia)
- Joint Checks Payment Method for Construction (Australia, US, Canada, and EA Customers in the UK)
- Boosted Insights in Revenue Recognition: (Australia, Canada, South Africa, UK, and United States)
Accounting Five-Alive
James Payne
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