Sage Intacct unveils new updates to advance productivity and control for SMBs

New features streamline operations, from AI-powered timesheets to advanced financial controls, ensuring smoother workflows and compliance

TORONTO, May 29, 2024- Sage, the leader in accounting, financial, HR, and payroll technology for small and mid-sized businesses (SMBs), today announces powerful new capabilities and updates for Sage Intacct. These latest enhancements boost productivity and streamline workflows for organizations, offering deeper financial insights and advancements in financial reporting, asset management, and operational efficiency.

“Our goal is to empower organizations 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 organizations 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:

• PwC Control Insights now generally available: Designed with compliance and growth in mind, this tool helps organizations strengthen their financial control environment as they scale with Sage Intacct. It provides a live dashboard allowing organizations to maintain strong financial controls and offer actionable insights with recommendations.

Availability: US, Canada, UK, South Africa, and Australia

• Bank transaction assistant file import: With this new guided import experience, users can streamline the process of importing bank data and improving 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: US, Canada, UK, Ireland, Australia, France & South Africa

• AI timesheets: This AI-powered timesheet solution, Sage Intelligent Time (SIT), is embedded in Sage Intacct to help users gather, organize, and suggest activities for inclusion in timesheets, alongside client, project, and task information. This maximizes billable time and improves the accuracy and efficiency of time tracking, leading to more precise invoicing and revenue recognition.

Availability: US, Canada, UK, South Africa, and Australia

• Employee expense allocations: This feature helps to streamline the expense reporting process by allowing users 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: US, Canada, UK, Ireland, Australia, France & South Africa

• Boosted revenue management: The latest revenue recognition updates drill down into supporting documents meaning that organizations can now more easily understand how deferred revenue progresses and what to expect in the future. Providing an expedited path for recognizing revenue and achieving reconciliations, it now comes with smarter search and filter options, helping organizations to be clear on revenue schedules faster with dimension group filters.

Availability: US, Canada, UK, Ireland, Australia, France & South Africa

• Construction enhancements: The latest enhancements mean that construction organizations can automatically calculate key metrics related to project revenue and profitability and review project-based costs and billing with Project-level Work in progress.

Availability: US, Canada, Australia and Early Adopters in the UK

• Supplies inventory: This streamlined ordering process provides the ability to track supplies, requisitions and gain insights into usage trends and cost insights across periods. Also 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

About Sage
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.