27th September 2019 - Sage, a market leader in cloud business management solutions, today announced it has acquired AutoEntry, a leading provider of data entry automation for accountants, bookkeepers and businesses. The acquisition will accelerate Sage’s vision to become a great SaaS company, and follows a successful two-year partnership.
In order to deliver the best experience for customers, AutoEntry’s ecosystem will remain open and independent. Accelerated investment in the technology will therefore benefit customers using accounting software not delivered by Sage, as well as Sage’s accountants, bookkeepers and business customers.
Since its launch in 2016, AutoEntry has been on a mission to eliminate the pain point of manual data entry for accountants, bookkeepers and businesses. Its intelligent technology automates data entry by accurately capturing, analysing and posting all receipts, purchase and sales invoices, expenses and statements into a user’s accounting software. AutoEntry’s technology utilises Artificial Intelligence (AI) and Optical Character Recognition (OCR) to ensure that the relevant line item data is accurate and gets posted to the correct accounting ledger fields removing mistakes often associated with manual data entry. The solution is currently used by more than 3000 accounting and bookkeeping practices, and services in excess of 150,000 businesses helping them to become more efficient by significantly reducing time and cost spent inputting expense items.
AutoEntry will initially be offered to Sage’s network of accountants and bookkeepers in the UK, while continuing to serve its customers across the board through its open and independent ecosystem.
In the coming months, it will be offered to customers across Sage’s business worldwide.
Lee Perkins, Chief Product Officer at Sage said:
“Part of Sage being a great SaaS company means building and acquiring great technology to help accountants and businesses focus on what matters most. AutoEntry provides intelligent technology and an open ecosystem that allow us to automate the inflow of business-critical data, whatever the source, and reinforces our commitment to accountants and their evolving role in helping their clients thrive. Having worked with AutoEntry for the last two years, we’ve been hugely impressed with the team and the technology and are delighted to welcome them to Sage.”
Brendan Woods, CEO at AutoEntry said:
“This is naturally a very exciting step for AutoEntry and presents a great start to our next chapter. Bringing automation to the front line of accounting has become arguably one of, if not the most influential step changes to accounting in recent years. Having seen AutoEntry adopted for the automation of over 150,000 businesses in just three years since its launch, we are very excited about what we can do over the coming years with the support and reach that Sage can offer around the globe.
“We’ve always believed that if we committed to building the best product, give the best customer support, with fair and transparent pricing, everything else would fall into place. This has been our mantra and it’s not going to change now. We are here to deliver the best solution to all accountants, bookkeepers and business owners, regardless of the accounting products they may use.”
Sage is the global market leader for technology that helps businesses of all sizes manage everything from money to people – whether they’re a start-up, scale-up or enterprise. We do this through Sage Business Cloud - the one and only business management solution that customers will ever need, comprising Accounting, Sage Intacct, Enterprise Management, People & Payroll and Payments & Banking.