Sage Intacct Release 1 2022 – Here’s What’s New

Here we are, it’s March already, which means it’s release time. Sage Intacct issues updates to the application every quarter, and this quarter’s release has made its debut. The focus in Sage Intacct Release 1 2022 is on Artificial Intelligence (AI) and Machine Learning (ML) tools to help automate key processes and drive productivity. Here’s a high-level overview of how the release is incorporating AI and ML. There’s much more to unpack, though, including updates to grant tracking and inventory. To learn more about Release 1 2022 and see it in action, view our on-demand webinar.

Manual Tasks Handled by AI

  • Access a new intelligent digital assistant that can scan vendor bills, match them to the right vendor, and create a draft bill record.
  • Identify duplicate and erroneous bills. Bills that require manual intervention are highlighted to allow you to quickly identify and address exceptions.
  • Speed daily reconciliations with automated bank downloads and auto-matching between payments and bank statements.
  • Digitally connect to your banks, vendors, and payment processors using Vendor Payments powered by Corporate Spending Innovations (CSI).

Outlier Detection for General Ledger

Sage is the first and only mid-market cloud accounting solution using AI to increase confidence in the accuracy of general ledger transactions. Introduced by Sage last year, and often referred to as the GL Outlier Assistant, Sage Intacct will auto-generate flags for entries that don’t match past transaction patterns, helping you catch these outliers before they make their way into your financial reporting.

  • Sage Intacct 2022 Release 1 adds to this functionality by including customizable approval routing to send outliers back to the originator to be fixed. This routing enables more users to use the Assistant, not just those who route to journal entry approvers.

Contract Renewal Visibility

  • With contract renewal forecasting you gain forward-looking visibility and a more complete forecast for recurring revenue. You can analyze billings, revenues, and payments for upcoming contract renewals, and see what is booked and what is expected to be booked.
  • Now you can use Sage Intacct Custom Report Writer, Interactive Customer Report Writer, as well as Interactive Visual Explorer, to report, slice and dice, as well as visualize forecasted contract renewal information for greater data-driven insights.

Automated AP Processing (Now Available for Early Adopters)

  • New scanning and vendor payments capabilities enable an automated end-to-end accounts payable workflow from receive, process, pay, and reconciliation without leaving Sage Intacct— including bill creation, paperless approvals, payment processing, reconciliation, and reporting.

Take a few moments out of your day, grab a big cup of coffee and join our on-demand webinar to learn more about Sage Intacct Release 1 2022 and see the new features in action.

To get a complete list of enhancements, or if you have questions about the release, contact us.