F&A, HR, and payroll solutions provider Sage announces new updates to Sage Intacct

UK-based Sage has announced new updates to its Sage Intacct, a core cloud-native financial management proposition for mid-sized businesses in Sage’s core markets (US, Canada, UK, Australia, and South Africa). The solution offers features and functionality for accounts payable and receivable, billing, cash management, general ledger, order management, and purchasing.

Product enhancements range from simplifying and automating bill processing to increased visibility adding speed and agility to workflows. Updates will gradually be released during the remainder of H1 2023. These include:

Accounts Payable (AP) Bill Automation – enriched with Sage’s AI-powered bill entry. Sage claims that users can save up to half of AP processing time. The entire AP process can be managed within Sage Intacct through automated and smart functionalities, including paperless approval routing, automated payment processing, automated reconciliation, and reporting.

Mateo Savings and Loan – in April 2022, Sage announced the acquisition of Mateo cloud savings and loan software from MAS Integrated Solutions. Mateo’s Savings and Loan solution’s latest updates include greater flexibility for financial statement generation, streamlined workflows, and expanded import capabilities.

Automating usage billing for subscriptions – automating usage billing for evergreen subscriptions. This enables the automation of financial processes without the need to bolt-on third-party billing applications. With its increased automation capabilities, Sage aims to support users through greater product simplicity by mitigating complexities such as contract amendments, subscription billing, and more, while offering real-time visibility.

In Sage Intacct 2023 Release 1, the vendor also announced global availability expansion with Sage Intacct Planning (SMB cloud-based planning and budgeting solution) and Sage Intelligent Time (an AI-powered time assistant offering greater insights into billable time from one-off activities) now available in South Africa and Australia, with the United Kingdom to follow in H1 2023. Lastly, Sage Intacct is accessible to the early adopter program in France.

In PAC’s view, deeper AI and automation functionalities in SMB-dedicated solutions add tremendous value to these companies, which often have small finance and accounting departments. The new technology-based features will allow companies with a small workforce to complete workflows much faster and focus on high-value tasks to grow their business.

SMBs look for easy and flexible solutions to mitigate complexities for the business and customers while offering a holistic overview of workflows, business departments, and profitability. Additionally, cost optimization is key for smaller companies, and Sage Intacct’s usage-based payments are a compelling proposition.