Sage Intacct Expands AI-Driven AP Automation to Support Businesses Worldwide

Date – 13-Aug-2024

The latest upgrades and features for Sage Intacct extend support for region-specific taxes, banking, and certifications.

Sage Expands Global Capabilities of Sage Intacct with New Enhancements and AI-Driven AP Automation

Sage, a leader in accounting, financial, HR, and payroll technology for small and mid-sized businesses (SMBs), has announced significant enhancements and updates for Sage Intacct, aimed at streamlining financial operations and enhancing security for customers worldwide.

As part of this global expansion, Sage Intacct is launching its AI-driven AP Automation internationally. Already in use in the US, where businesses process over 10,000 bills per month, this tool leverages AI to cut accounts payable processing time by half, saving organizations over $100,000 annually. AP Automation enhances financial workflows by automatically generating draft bills from uploaded documents, quickly identifying issues like duplicates, and significantly reducing data entry efforts and costs.

“Supporting our customers in growing their businesses is at the heart of the technologies we develop,” said Dan Miller, EVP Financials and ERP Division at Sage. “AP Automation exemplifies this commitment and makes us the first mid-market solution to offer this outside of the US. Our ongoing global expansion, coupled with the achievement of significant certifications, demonstrates our dedication to providing secure, globally compliant financial solutions that meet the diverse needs of businesses everywhere.”

Key Enhancements in Sage Intacct Product Release 3 2024 Include:

Elevated Time Entry Experience: The new Sage Intelligent Time feature, with enhanced AI assistance, supports the creation of more descriptive activity card titles and offers automatic time entry descriptions, improving clarity for both users and approvers.
Availability: US, Canada, Australia, South Africa, and the UK.

Automated Employee Expense Submission—Early Adopter: Employees can now email receipts directly from any device, with AI and machine learning enhancing coding accuracy and adapting to user modifications for future submissions, simplifying the expense reporting process.
Availability: US.

Sage Intacct Financials Certified by AFNOR in France: Achieving NF 203 certification from Infocert, Sage Intacct meets stringent French standards, ensuring enhanced security, reliability, and regulatory compliance for financial operations.
Availability: France.

German Electronic Tax Submission: Sage Intacct now supports the DATEV file format, simplifying tax compliance for German organizations and enhancing security and efficiency in financial data exchange.
Availability: Germany.

Enhanced Interactive Custom Report Writer (ICRW): New reports in ICRW provide customers with deeper, actionable insights, improving compliance and operational efficiency. These customizable reports offer detailed views on order summaries, customer aging, and purchasing activities, empowering users to make swift, data-driven decisions.
Availability: Globally.

Enhanced Email Delivery and Insights: The update introduces an advanced email delivery service utilizing DomainKeys Identified Mail (DKIM) to ensure secure, efficient email delivery. It also provides detailed delivery logs and supports multiple domains, ideal for businesses managing diverse operations.
Availability: Globally.

Sage Intacct and Kanso Solution for Affordable Housing: Partnering with Kanso, Sage Intacct delivers a comprehensive cloud solution for public housing management, enhancing compliance, data accuracy, and property management. This solution expands Sage Intacct’s reach into sectors such as public housing, native communities, and supportive housing.
Availability: US & Canada.

Hold and Resume Contract Schedules: Users can now hold or resume billing, revenue, and expense schedules across multiple contracts simultaneously, improving operational efficiency with an enhanced user interface that includes new filters and streamlined navigation.
Availability: US, Canada, Australia, South Africa, and the UK.

Exporting Taxable Payments Annual Reports: To simplify compliance with the Australian Tax Office, users can now export Taxable Payments Annual Reports (TPAR) files, reducing manual data reformatting, saving time, and enhancing efficiency.
Availability: Australia.

Joint Checks Payment Method for Construction: A new joint check payment method, tailored for the construction industry, simplifies payments to two-party construction vendors, reducing the risk of unpaid claims. This feature allows construction companies to create and track joint checks within Accounts Payable, eliminating the need for complex workarounds.
Availability: Australia, US, Canada & EA customers in the UK.

Boosted Insights in Revenue Recognition: Sage Intacct’s Revenue Management now includes the ability to link billing events with revenue recognition entries, supporting detailed contract tracking and analysis within Order Entry transactions, enhancing visibility, accuracy, and forecasting capabilities.

Sage is committed to removing barriers so that everyone can thrive, beginning with the millions of small and mid-sized businesses that rely on Sage and its partners. By digitizing business processes and fostering connections with customers, suppliers, employees, banks, and governments, Sage’s digital network removes friction and delivers valuable insights, helping businesses succeed while addressing digital inequality, economic challenges, and the climate crisis.