Sage, the leader in accounting, financial, HR, and payroll technology for small and mid-sized businesses (SMBs), has officially announced the launch of several new updates and capabilities for its Sage Intacct platform. Although slightly different in what they bring to the table, each of these updates is geared towards encouraging productivity and streamlining workflows for organizations so to offer deeper insights and advancements in financial reporting, asset management, and operational efficiency. Talk about the stated new development on a slightly deeper level, we begin from PwC Control Insights that are specifically conceived to complement your organization’s growth and compliance requirements. In essence, these insights can help companies strengthen their financial control environment as they scale with Sage Intacct. To achieve the same, users can also expect access to a live dashboard which will again empower them to maintain strong financial controls, as well as offer actionable insights with recommendations. At launch, PwC Control Insights will be available in US, Canada, UK, South Africa, and Australia. Next up, we must get into Sage’s all-new bank transaction assistant file import facility. By leveraging this particular facility, users can streamline the process of importing bank data and improving reconciliation efficiency. Such a setup, like you can guess, can then lead to significant time savings, along with reduction in the likelihood of errors, thus improving the overall reliability attached to your financial data and simplifying the monthly close process.
“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.”
Moving on to the introduction of a new AI timesheet solution called Sage Intelligent Time (SIT). SIT basically comes decked up with an ability to help users gather, organize, and suggest activities for inclusion in timesheets, alongside client, project, and task information. This, like you might guess, can maximize billable time and improve the accuracy and efficiency of time tracking so to generate more precise invoicing and revenue recognition. Sage took the opportunity in question to also launch new mechanisms for employee expense allocations. Under the given setup, you can quickly code expense receipts, and at the same time, build upon the power of transaction allocations. The behind doing so is, of course, to save time which one would have usually spent on administrative tasks related to expenses. Not just that, the feature even preaches better compliance with internal policies and external regulations. Joining the same is Sage Fixed Asset Management – Purchasing integration. Marking expansion of a recently-launched product, this integration can now help users create assets directly from purchasing transactions such as vendor invoices. Furthermore, it can simplify data entry and improve asset management in a way that reduces manual efforts. Hold on, we are not done yet, considering this integration can also increase the accuracy of asset tracking and ensure that asset-related financials are updated in real-time. Such a feature, in turn, goes a long distance to put-together a smooth process, right from the purchase of assets through to their depreciation and maintenance. Another detail worth a mention here is rooted in the chance to boost revenue management practice. By that, we touch on the way latest revenue recognition updates drilldown into supporting documents, meaning organizations can now more easily understand how deferred revenue progresses.
Among other details, we have construction and supply chain enhancements that ensure effective project and inventory management, respectively.
