TORONTO, Feb 28, 2022 (GLOBE NEWSWIRE via COMTEX) --
TORONTO, Feb. 28, 2022 (GLOBE NEWSWIRE) -- Sage
, 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.
Manual tasks managed by AI - Shifting focus from data entry to higher value, strategic work.
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.
Sage 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.
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.
firstname.lastname@example.org (905) 781-0758
Sage 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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