Sage has announced the rollout of new enhancements for its Sage Intacct platform, including the early access release of Sage Copilot, an AI-driven tool designed to assist accounting and finance teams with tasks such as budget variance analysis and financial oversight. The updates aim to improve efficiency and decision-making for small and mid-sized businesses (SMBs) in key markets, including Canada, the United States, and the United Kingdom.
Sage Copilot, currently available to early adopters in the U.S. and U.K., uses generative AI to provide real-time insights and automated alerts for financial variances, enabling quicker decision-making and reducing manual analysis. Dan Miller, executive vice-president of the financials and ERP division at Sage, said the tool supports finance leaders in managing evolving roles and expanded responsibilities. “With the introduction of Sage Copilot, alongside our other enhancements, we are helping [finance leaders] take a major step towards that goal,” Miller said.
The release comes as Sage research highlights an increasing reliance on AI among CFOs, with 80% reporting its use to reclaim time for strategic tasks. The findings, part of Sage’s “Secrets of Successful CFOs” report, also indicate that 89% of finance leaders have seen their roles expand significantly due to technological advancements and global complexities.
New tools target diverse industries and global markets
The enhancements extend beyond Sage Copilot. New tools and integrations tailored to specific industries and geographic regions were also introduced.
- Sage Intelligent Time Enhancements: These include time clocks and rate cards to meet compliance and operational needs in industries such as professional services, retail, and manufacturing. The updates aim to simplify billing processes and improve profitability.
- Industry-Specific Solutions: A new integration with Continental Utility Solutions, Inc. streamlines data flow for utility companies, improving billing accuracy and reducing manual workloads.
- Language Accessibility: French-Canadian and Spanish support, now in open beta, makes the platform more accessible to users in diverse markets.
- Developer Tools: Expanded capabilities with a REST API allow businesses to build custom integrations and tailor solutions to their specific needs.
Sage has also introduced features tailored to the French market, including tools to simplify bank reconciliations and general ledger management while ensuring compliance with local financial regulations.
The new features are part of Sage Intacct Release 4 for 2024 and aim to address challenges faced by SMBs in achieving growth and efficiency. Availability of the tools varies by region, with some features still in the early adoption phase.
Focus on growth through technology
By integrating AI tools and expanding its global capabilities, Sage aims to position its platform as a resource for SMBs looking to streamline operations. Miller said the company’s efforts are centred on enabling users to shift focus from time-consuming administrative tasks to strategic growth initiatives.
The updates reflect broader trends in the financial sector, where AI adoption is reshaping the responsibilities of finance teams and opening opportunities for innovation in business management.