The eagerly anticipated Sage Summit 2023 took place in May, as industry leaders, experts, and businesses interested in Sage Intacct gathered to discuss the latest developments in the world of finance and accounting technology.
Let’s look at a few of the highlights and their implications for businesses.
Expanding capabilities
Sage Intacct continues to evolve, with the addition of new features and capabilities that take advantage of the latest technologies. One notable example from the event was the announcement of Sage Intacct’s acquisition of Lockstep.io, a leading provider of accounts receivable automation software.
This strategic move will enhance Sage Intacct’s capabilities, enabling businesses to automate and streamline their AR processes and accelerate revenue recognition. For example, with its AI features, Lockstep Inbox understands the context of emails, so teams can respond quickly to questions, attach invoices, and draft relevant emails—all with software that’s integrated with their ERP.
Advanced automation and AI-powered insights
AI came up again and again at the summit, as it is being incorporated in a variety of ways to help accounting teams operate more efficiently. At the same time, Sage CTO Aaron Harris emphasized that Sage products, including Sage Intacct, will be integrating AI functionality only when accuracy and reliability are fully assured.
One of the new, AI-driven features of Sage Intacct that was highlighted at Summit is Intelligent Automation, which leverages machine learning algorithms to automate complex financial tasks. The solution makes it possible for businesses to automate workflows, reduce errors, and enhance productivity by intelligently handling tasks such as invoice processing, expense management, and financial reporting.
Industry-specific solutions
Sage Intacct’s commitment to addressing industry-specific challenges was also evident at the summit. For example, Sage Intacct unveiled an enhanced healthcare-specific module that caters to the unique financial and regulatory needs of healthcare organizations.
The new module—one of many industry-specific modules available from Sage Intacct—offers specialized functionalities for medical billing, insurance reimbursements, compliance reporting, and revenue recognition, so healthcare businesses can streamline their financial operations and ensure compliance with industry standards.
Learn more
The experienced professionals at ACI Consulting can help you evaluate and implement the latest ERP and financial accounting solutions to help your business be more efficient and productive. Contact us to learn more about our team and all of the services and solutions we offer.
