Sage is Betting Big on AI — Here’s What it Means for You

Artificial Intelligence (AI) has moved beyond the hype — it’s rapidly becoming an essential part of business operations, and Sage is diving in headfirst. With a focus on practical, impactful AI, Sage Intacct is transforming how accounting teams work. They are using AI not simply to automate tasks but to reinvent the entire financial management experience.

Speaking at Sage Transform 2024, held in Las Vegas in February, Aaron Harris, Sage’s Global CTO, outlined the company’s current AI strategy and shared hints about its future direction. 

Are you curious about Sage Intacct’s approach to AI and what innovations are available now and coming soon? Read on!

How Sage Intacct Is Using AI

Rather than chasing trends, Sage is focused on building practical AI solutions that meet the specific needs of accounting professionals and their teams. From automating routine tasks to providing real-time insights to being an adept digital assistant, the Sage AI capabilities streamline operations and make real-time financial data more accessible. By gradually moving toward concepts like continuous close, continuous assurance, and continuous insights (check out Aaron Harris’s video for more on these concepts), Sage Intacct is helping businesses move away from the periodic crunch of month-end tasks and toward an easier, efficient, and insightful financial process.

By partnering with both Microsoft and AWS, Sage combines some of the most advanced AI technologies available, enhancing them with their own tools and data models specifically for accounting.

This isn’t about flashy tech for the sake of it. Sage’s innovation goes deep with powerful tools like GL Outlier Assistant, AP Bill Automation, and Sage Copilot. These AI-driven features make accounting workflows smoother, faster, and smarter. Here’s a bit more about them.

Sage Intacct GL Outlier Assistant

The Sage Intacct GL Outlier Assistant is like having a virtual auditor on standby, using AI to spot transactions that stray from the usual patterns in your general ledger. When it detects an outlier, it halts the entry’s progress and sends it back to the original submitter for review, ensuring no unusual entries slip through unchecked. You can fine-tune its sensitivity with customizable thresholds so it fits into your existing workflow. The tool reduces the need for tedious manual reviews, helping you manage by exception, knowing that potential issues are flagged for your attention before they can impact reports.

For example, if an expense suddenly spikes, the GL Outlier Assistant catches it and prevents it from being approved until reviewed. It’s a smart, efficient way to closely monitor your finances without slowing down your processes.

Watch the on-demand webinar: GL Outlier Assistant

Sage Intacct AP Bill Automation

Sage Intacct AP Bill Automation streamlines accounts payable by using AI to handle invoices from start to finish. When an invoice arrives, the system captures it directly from emails or file uploads, extracting key details like vendor names, invoice dates, amounts, and line items. It then uses machine learning to automatically categorize and code expenses based on your company’s past entries. Over time, this improves its accuracy, reducing the need for manual data entry and reducing errors.

The automation doesn’t stop at data capture. The system checks for inconsistencies, such as missing information or unusual amounts, and flags them for review before they’re posted. This helps catch potential issues early, reducing the time spent on corrections later.

Watch the on-demand webinar: Sage Intacct AP Bill Automation

Sage Copilot

Sage Copilot is like having a personal assistant for your finances —  powered by generative AI. It can automate tasks, offer actionable insights, and help you easily manage workflows. By generating tailored reports, drafting a customer dunning email, or suggesting ways to optimize cash flow, Sage Copilot makes data more accessible and decision-making faster. It adapts to your unique needs, learning from your interactions to become even more valuable over time. With Sage Copilot, you can handle everything from creating to-do lists to generating complex visualizations — all through a simple, conversational interface.

Among its capabilities:

• Intelligent Understanding: Uses natural language to interpret commands in a conversational way, customizing responses to each user’s specific situation for a more tailored experience.
• Task Management and Automation: Simplifies task organization with personalized lists, prioritizes them based on urgency, and automates repetitive tasks, saving time and effort.
• Communication and Collaboration: Helps prepare and send messages with the right tone and timing, delivering personalized customer invoices or employee reminders in seconds instead of hours.
• Data Analysis, Reporting, and Insights: Provides insights and custom reports to support decision-making, including quick cash flow analysis and recommendations for financial improvements.
• Integration with Other Apps: Works with other apps and services, like Microsoft Office, to create a seamless workflow. Sends email invoices without leaving your current window.
• Personalized Recommendations: Learns from user interactions and preferences, offering advice to improve budgeting and financial planning, ultimately helping achieve better financial outcomes.

When I first heard about AI and how it will change how we work, it was a little overwhelming. But after attending the Sage Transform conference I saw how much it can make us better at what we do and also allow us to look forward instead of always in arrears. I am very excited to embrace Sage Copilot! – Dana Smith, Controller, Little Rock Athletic Club

We’ll cover Sage Copilot more thoroughly in upcoming articles, so stay tuned; but you can request early access here.

A Bold Vision

Sage’s commitment to AI reflects a bold vision for the future of accounting. With substantial investment and strategic partnerships, they’re pushing the boundaries of what’s possible, bringing innovative, AI-driven solutions that empower businesses to stay ahead. Sage is all-in on AI, with a clear focus on delivering practical value to your business. Contact our team with your questions.