What’s New in the Sage Intacct 2023 Release 1
On February 17th 2023, Sage Intacct made its first release of the year available. This release has incorporated a diverse set of new features and improvements that span several industries and is aimed at streamlining your financial processes and enhancing your day-to-day operations. Read on to learn more about the key highlights of this release and how it can help propel your business forward.
Accounts payable automation
Sage Intacct’s AP Bill Automation, which utilizes artificial intelligence (AI) to facilitate bill entry through direct upload or email intake, is rolling out to selected early adopter customers across Canada.
The AI-powered bill assistant automates the creation of a billing record, including vendor matching and detecting duplicates and exceptions, leaving you only with the task of reviewing and correcting if necessary. The AI learns from your corrections, getting smarter every day.
AP Bill Automation works seamlessly with Sage Intacct’s other capabilities to provide an end-to-end solution for all front and back-end AP needs. There is also no monthly subscription or implementation fees meaning customers only pay for what they use, making it a perfect option for smaller organizations.
Enhanced visibility for managing vendor information
This release includes usability enhancements that make viewing and managing vendor information more efficient.
By clicking on the link provided in the Vendor List screen, you can activate the beta interface of the list, which enables you to perform the following actions:
- Customize your list views by adding or removing columns, rearranging or resizing columns through simple drag-and-drop interactions, and saving your preferred settings.
- Employ powerful advanced filtering capabilities to manipulate your data in various ways.
- Seamlessly navigate your vendor list while examining vendor detail information by utilizing the list/detail split screen mode.
- And much more
Usage billing with evergreen contacts
Sage Intacct is the first mid-market accounting and ERP solution to combine usage billing with evergreen subscription workflows. This innovative addition to the software greatly simplifies billing processes for companies dealing with complexities such as contract amendments, usage billing, one-time payments, and subscription billing to effectively expand their businesses.
Sage Intacct provides one system of record for revenue, financials, and forecasting, meaning users can automate their financial processes without third-party billing applications. This enables you to offer hundreds of billing models, accelerate their quote-to-cash process by up to 80%, and increase cash flow by up to 20%.
Deep Cross-Industry Functionality
Sage Intacct Release 1 2023 also offers exciting new functionality to its construction payroll solution with the following updates:
- Enhanced payroll menus and navigation that improve usability.
- Custom reporting capabilities have been expanded, enabling the generation of various reports, including payroll checks, gross pay, pay modifiers, PTO activity, tax, and timecard reports.
- Post construction project contract entries to GL budget.
- Improved work order and project integration for better tracking and visibility.
- Be able to provide additional reporting for agreements and technician profitability.
For diocesan organizations, Mateo is a solution that aids in managing their savings and loan programs more efficiently and effectively by simplifying transaction processing and providing better-reporting insights. Recent improvements to Mateo include enhanced flexibility in generating interest and bank statements, streamlined workflows for managing accounts (including simplified account closure), and expanded import capabilities.
Other updates
- Sage Intacct now offers more tax automation for customers with businesses outside of the US.
- Bank reconciliation rules can be configured to automatically add VAT/GST to journal entries and credit card transactions. This reduces the potential for errors and saves time during reconciliation.
- Applying credits has been simplified, resulting in increased efficiency when paying bills. With the ability to select only the desired credits, you can now effortlessly view available credits within a specified date range via the new filter located on the Pay Bills page.
We’ve only highlighted a few of the many upgrades of Sage Intacct 2023 Release 1. These newest features assist customers in achieving significant time savings through automated bill payments, providing increased billing flexibility with subscription contracts and showcasing Sage’s ongoing dedication to extending cross-industry capabilities to organizations worldwide.
If you’re a current Sage Intacct customer and want a bird’s eye overview of the release, check out the Sage Intacct Release Notes. If you’re in the market or curious about exploring a new financial management software solution, talk to one of our experts today.