Sage Intacct Advantage - What to Expect in 2020
Kiwi Partners is a Sage Intacct (SI) Accounting and Implementation Partner. Every year SI gathers its partners and customers from around the world to share experiences, review new features and upcoming releases, and discuss innovations on the horizon.
Artificial Intelligence (AI) is impacting our lives and improving how we spend our time, and we will all need to adapt to these changes. Kiwi Partners and Sage Intacct's partnership will help us in our mission in facilitating the good deeds of amazing organizations.
We would like to share highlights from Sage Intacct Partner Conference – Advantage 2019
Sage Intacct (SI) Intelligent GL™ has new Artificial Intelligence (AI) capabilities embedded that impact three major domains – accounting, trust and insights.
Digital Transformation - The system is moving from the Age of Information to an Age of Answers. This includes:
Embedding machine-learning and artificial intelligence capabilities directly into the SI General Ledger
Streamlining the process of gaining actionable, real-time insights across the business
Finding anomalies with root-cause analysis, action graphs, what-if scenarios, and predictive analysis
Real Time - The system will capture business activity in real time, perform continuous reconciliation and make continuous adjustments such as accruals throughout the months. This will help reduce the burden at the end of the period. -- Are these all existing features?
Anomaly Detection - The system will highlight the anomalies by:
Identifying anomalies as high or low risk. For example, if a journal entry is significantly higher than usual, the system will inform you
Allowing user drill down into the transaction to see the underlying issue and correct it
Predictive Billing - (How is this meaningful to nonprofit?) Many clients have a different types receivables and updating C/F/F. The system can provide predictive billing. For example, when AI identifies that a revised forecast showed revenue dropping below what was planned, the system can track several key components and highlight that the revenue change is due to an increase in discounts. The AI next identifies a suggested action to correct the short fall. It also indicates the top five customers whose contracts were at a risk of leaving. AI tracks several potential revenue generating areas and would highlight those that would most impact the shortfall.
SI Intelligent time tracking capability
This captures time from users via their calendars, documents that they are using, emails sent, meetings attended and will complete time sheets to the best of its capability, saving much time for the user.
Sage People integrated to Sage Intacct (What is the cost?)
Sage People is SI’s HRIS application; a global cloud HR platform. For HR and Finance, this will mean that there is a single source of truth – no more entering HR data in multiple applications. While the benefit to Finance is clear. For HR, the benefit is not having to spend time collating information for the finance team. The integration of Sage People and Sage Intacct is important as it will deliver a similar seamless integration capability that other ERPs deliver.
Budgeting and Planning Enhancements
An intuitive, drag-and-drop capability for adding dimensions from SI into the budget structure.
Expanded collaboration capabilities that make it easy to work together with business and department leaders to gather data and context around planned revenue and expenses.
Drill down from SI dashboards and reports to the drivers of the budget in SI.
Budgeting and Planning to see how the budget or forecast was created – enabling users to see what they are working on in the context of the source of the information with just a few clicks
The Next Generation of Reporting
Sage Intacct Visual Explorer
Quickly identify insights in a range of graphs and save them to later present in a simple and efficient way.
Build different graphical views and then select the graphics they wish to use in presentations saving it as a PDF or on the SI Dashboard.
Share the same permissions and data security model ensuring that access is given only to those with relevant authority.
Enterprise Times: What does this mean (What is Enterprise Times?) Suggest removing - is this relevant to clients
The one thing that was made clear during the keynote and several conversations, is how critical the acquisition by Sage has been to the accelerated development that SI is now able to show (PLEASE CLARIFY). In the past, SI struggled to employ data scientists it needed to develop AI solutions in California. Now SI has access to the Sage AI labs and has accelerated its capability ahead of schedule. Internationalization of the product is also well under way. The product has already launched in Australia and will soon launch in the UK.
Are these enhancements available to all current users?
Contact us for more information.
Lisa Toback, Sage Intacct Partner since 2016
CPA, PMP, Director of Consulting Services
Kate Koraia, Sage Intacct Partner since 2016
Lead Financial Engineer, Sage Intacct Practice Leader, MBA