South Africa – July 16th, 2024 – Sage (FTSE: SGE), the leader in accounting, financial, HR, and payroll technology for small and mid-sized businesses (SMBs), announces powerful new capabilities and updates for Sage Intacct. These latest enhancements boost productivity and streamline workflows for organisations, offering deeper financial insights and advancements in financial reporting, asset management, and operational efficiency.
“Our goal is to empower organisations to be more efficient in their financial management, enhancing their ability to make informed decisions quickly,” said Dan Miller, EVP Financials and ERP Division at Sage. “This latest release helps organisations strengthen their financial controls and simplify operations, while delivering significant time savings. We continue to provide our customers with the tools they need to respond to new consumer preferences, regulatory changes, technological advancements, and economic shifts in the marketplace, giving them a competitive edge.”
Sage Intacct Product Release 2 - 2024 enhancements include:
- Bank transaction assistant file import: With this new guided import experience, users can streamline the process of importing bank data and improve reconciliation efficiency. This saves time and reduces the likelihood of errors, improving the overall reliability of financial data and simplifying the monthly close process. - Availability: South Africa, US, Canada, UK, Ireland, Australia, and France.
- AI timesheets: This AI-powered timesheet solution, Sage Intelligent Time (SIT), is embedded in Sage Intacct to help users gather, organise, and suggest activities for inclusion in timesheets, alongside client, project, and task information. This maximises billable time and improves the accuracy and efficiency of time tracking, leading to more precise invoicing and revenue recognition. - Availability: South Africa, US, Canada, UK, and Australia.
- Employee expense allocations: This feature helps to streamline the expense reporting process by allowing users in South Africa to quickly code expense receipts and leverage the power of transaction allocations. It reduces time-consuming administrative tasks related to expenses and helps maintain compliance with internal policies and external regulations. - Availability: US only.
- Sage Fixed Asset Management - Purchasing integration: Building on the recent release, this expanded feature helps users create assets directly from purchasing transactions such as vendor invoices. It simplifies data entry and improves asset management, significantly reducing manual efforts. This enhancement also increases the accuracy of asset tracking and ensures that asset-related financials are updated in real-time. As a result, it supports a smoother process from the purchase of assets through to their depreciation and maintenance, providing more streamlined asset lifecycle management. - Availability: South Africa, US, Canada, UK, Ireland, Australia and France.
- Boosted revenue management: The latest revenue recognition updates drilldown into supporting documents means that organisations can now more easily understand how deferred revenue progresses and what to expect in the future. Providing an expedited path for recognising revenue and achieving reconciliations, it now comes with smarter search and filter options, helping organisations in South Africa to be clear on revenue schedules faster with dimension group filters. - Availability: South Africa, US, Canada, UK, Ireland, Australia, and France.
- Supplies inventory: This streamlined ordering process provides users with the ability to track supplies requisitions, gain insights into usage trends and cost insights across periods, and manage inventory levels and reorder when needed to avoid availability delays. Employees can enter requisitions for items designated as supplies inventory, such as office or program supplies. Users can easily process requests and monitor status using the workbench. - Availability: Early Adopters in US and Canada.
"Our ‘Small Business, Big Opportunity’ report revealed that over 1 in 5 SMBs see themselves adopting AI technologies in the near future and over half (53%) intend to increase their investment in technology in the next year. Technology is considered as a crucial component in the future success and sustainability of SMBs, and Sage Intacct customers are already leveraging automation to reduce period close time by up to 79%,” adds Gerard Hartman, Vice President of Medium Business, Africa and Middle East at Sage. “These latest updates, will empower our customers to make informed decisions quickly and stay ahead in today's dynamic market.”
About Sage Group
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 digitising 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. Learn more at www.sage.com.
Notes to editors
In May 2024, TrustRadius recognised Sage Intacct at its 2024 Top Rated Awards. Sage Intacct won in seven categories, including Accounting, Accounts Payable, Enterprise Resource Planning, Invoicing, Nonprofit Accounting, Revenue Management and Subscription Management categories.
