*Sage ran a study with 570 small businesses (532) and accountants (38) with between 0-49 employees. Respondents were a mix of Sage customers (145) and non-Sage customers (387) who currently use Accounting software. Each respondent saw a demo of the new Sage Copilot capabilities along with descriptions of how each capability will help. They were then asked how much additional time they would save per week with the help of the new capabilities – each respondent responded with estimated time saved per week per capability. Capabilities judged:
Invoicing: Speeds up communication, creates engaging business emails for sending invoices, credit notes, quotes or invoice reminders. Response: Average 2.1 hours per week / 9 hours per month / 1.14 days per month
Reports: Automates your reporting builds, schedules, and sends reports based on the information you need, without manual intervention. Response: Average 1.9 hours per week /8.23 hours per month / 1.03 days per month
Chasing payment: Helps manage late payers reviews customer compliance with payment terms, identifies and chases overdue invoices. Response: Average 2.1 hours per week /9 hours per month / 1.14 days per month
Admin: Automates accounts payable automatically creates and assigns Purchase Orders, uploads invoices from and pays suppliers. Helps manage late payers reviews customer compliance with payment terms, identifies and chases overdue invoices. Speeds up communication creates engaging business emails for sending invoices, credit notes, quotes, or invoice reminders. Response: 6.1 hours per week / 27.28 hours per month / 3.41 days per month
Each estimate assumes: average 4.33 weeks per month and average 8 hours per day.
