Each month, monetary groups race in opposition to time – reconciliations, approvals, and experiences! The month-end shut can usually really feel like Groundhog Day, with groups working time beyond regulation to course of lots of of invoices, match numerous transactions, and catch any uncommon entries earlier than they grow to be issues.
In the present day’s companies cannot afford to function in month-to-month cycles anymore.
That is why Sage Intacct, one of many main cloud monetary administration programs, has been incorporating AI options into their platform. With additions like Sage Copilot and GL Outlier Assistant, the corporate hopes to assist finance groups break away from the month-to-month shut lure and transfer towards steady, real-time monetary administration.
On this information, I’ll take you thru Sage’s completely different AI options and how one can increase Sage’s AI capabilities.
Sage Intacct AI: Native options defined
The way forward for accounting is not about sooner month-to-month closes. The main target is steadily shifting to eliminating closing cycles. Not less than this has been the driving power behind Sage’s current updates.
The purpose is to have AI always monitor your monetary information, catching points earlier than they grow to be issues and automating routine duties in real-time. Extra of steady accounting quite than periodic sprints.
Let me stroll you thru Sage’s native AI options:
1. GL Outlier Assistant
It’s an AI-powered system that displays transactions in your basic ledger for anomalies and potential errors. The concept is to forestall errors from impacting monetary statements by catching them at entry, quite than throughout month-end reconciliation.
The way it works:
- Opinions transactions in opposition to historic patterns
- Makes use of customizable thresholds primarily based on enterprise guidelines
- Routes suspicious entries again to those that submitted it
- Learns from corrections to enhance accuracy
For instance, in case you mistakenly enter a month-to-month provide cost of $500 as $5,000, the system flags it instantly for correction, stopping downstream reconciliation points.
2. Sage Copilot
A few of you’ll have used Microsoft’s Copilot or a minimum of seen it. Nicely, now Sage too has a Copilot. It’s principally an AI assistant that automates monetary evaluation, reporting, and routine duties. It hopes to scale back time spent on guide monetary evaluation and report creation.
You should use it to:
- Evaluate budgeted versus precise figures in real-time
- Get fast solutions to monetary queries by means of conversational search
- Streamline month-end shut processes
- Automate approval workflows and reconciliations
Say you must test price range variances for this quarter. Now you’ll be able to merely ask Sage Copilot to provide the variations between budgeted and precise figures. You’ll be able to go a step additional and ask the place the numerous variances are. It’ll enable you to drill down into particular transactions.
3. AP invoice automation
That is Sage’s native answer for dealing with invoices. It goals to scale back the time your crew spends on guide information entry and bill processing.
The way it works:
- Add payments straight or ahead them to a devoted e mail tackle
- System creates draft payments utilizing AI to extract bill information
- Matches info in opposition to your chart of accounts
- Routes payments by means of your approval workflow
- Posts accredited payments robotically to your GL
For instance, while you obtain an bill through e mail, you’ll be able to ahead it to your devoted Sage e mail tackle. The system reads the bill, creates a draft invoice with the seller particulars, quantity, and line gadgets already stuffed in. You simply have to evaluate the small print and approve.
Now these native AI options from Sage Intacct might enable you to take first steps towards steady accounting. Nevertheless, you could quickly discover out that you just want extra complete automation. They work effectively for primary bill processing and anomaly detection, however dealing with complicated AP workflows, managing a number of enter sources, or coping with assorted doc codecs usually requires extra capabilities.
That is the place integration options like Nanonets are available. Let me present you how one can increase Sage’s AI capabilities to deal with extra complicated monetary workflows.
[Image source: Sage’s official website]
Easy methods to increase Sage’s AI capabilities
Nanonets is an Clever Doc Processing platform that integrates straight with Sage Intacct. Whereas Sage’s native options deal with primary automation, Nanonets takes it additional by processing any kind of monetary doc and establishing automated workflows.
Let me present you the way Nanonets may also help increase your Sage Intacct’s AI capabilities:
1. Automated doc import
The primary problem in any AP course of is doc consumption. Nanonets presents many add choices, permitting you to robotically course of and add extracted information to Sage Intacct.
- Routinely captures invoices from e mail inboxes
- Screens particular folders in Google Drive, Dropbox, or your inner programs
- Accepts any doc format — PDFs, JPGs, PNGs, scanned paperwork, and handwritten paperwork
- Handles a number of doc sorts — invoices, buy orders, receipts, packing slips
You’ll be able to even use API integrations to robotically feed paperwork out of your present programs straight into the processing workflow. This ensures all monetary paperwork are captured and processed persistently, no matter their supply or format.
2. Clever information extraction and processing
As soon as paperwork are within the system, the following step is information extraction. That is the place Nanonets’ superior AI-OCR capabilities come into play.
You get to decide on between completely different AI fashions primarily based in your wants:
- Zero-shot fashions that work instantly with out coaching
- Instantaneous Studying fashions that adapt to your corrections in real-time
- Pre-built fashions for traditional paperwork like invoices
- Customized fashions for distinctive doc sorts or particular necessities
You’ll be able to customise how the AI reads your paperwork by offering clear descriptions for every subject. For instance, as an alternative of merely labeling a subject as “invoice_number”, you’ll be able to specify “A singular alphanumeric identifier situated on the high proper, beginning with ‘INV-‘ adopted by 8 digits.”
The system presents refined information extraction:
- Extracts information from any doc with excessive accuracy, no matter format or construction
- Processes each single-value fields (like bill numbers) and repeating information (like line gadgets)
- Acknowledges and matches vendor particulars along with your Sage data robotically
- Learns from consumer corrections to repeatedly enhance accuracy
- Validates extracted information in opposition to predefined guidelines and flags discrepancies
Within the above GIF, you’ll be able to see how the AI immediately extracts normal fields and matches vendor names in opposition to your Sage vendor listing. You additionally get a dropdown to confirm or modify matches when wanted.
For line gadgets, it captures all particulars in structured tables and robotically maps every line to your Sage GL accounts. You’ll be able to evaluate and modify these mappings by means of dropdowns, making certain your information is validated earlier than it reaches your accounting system.
The AI mannequin builds understanding by means of context, not simply textual content recognition. When processing an bill, it:
- Distinguishes between completely different tackle sorts (billing vs transport)
- Separates header info from line gadgets
- Acknowledges numerous tax classes and calculations
- Maintains relationships between associated information factors
The system additionally tracks AI confidence ranges, exhibiting you precisely how dependable the extraction is for every doc. This helps you resolve which paperwork want guide evaluate and which might be processed robotically.
3. Automated GL coding and matching
Handbook coding of transactions and matching paperwork in opposition to buy orders are sometimes duties that no AP groups stay up for. They are often time-consuming and error-prone. That is the place Nanonets’ clever matching capabilities make a major distinction.
The system streamlines coding and matching by means of:
- Computerized GL code recommendations
- Sensible matching between invoices, POs, and receipts
- Actual-time validation in opposition to your enterprise guidelines
- Customized routing for exceptions and discrepancies
- Steady studying out of your crew’s corrections
You’ll be able to arrange completely different validation guidelines primarily based in your wants, like:
- Match line gadgets individually for detailed reconciliation
- Evaluate complete quantities for fast validation
- Verify particular fields like tax charges or cost phrases
- Flag mismatches above sure thresholds
The influence might be important. It will possibly cut back processing time, save time, cut back error charges, and dedicate extra time to exception dealing with. The system additionally maintains an entire audit path of all matches and exceptions, making it simpler to trace points and reveal compliance throughout audits.
4. Approval workflows
Getting invoices accredited is usually the place bottlenecks happen. You may need distributors chasing funds whereas invoices sit in somebody’s inbox ready for approval. Nanonets addresses this by means of clever workflow automation.
The system handles approvals by means of:
- Customized routing guidelines primarily based on quantity, vendor, or division
- Multi-channel notifications (e mail, Slack, Groups)
- One-click approvals from any machine
- Automated reminders for pending gadgets
- Actual-time visibility into approval standing
You’ll be able to arrange approval workflows that match your enterprise wants. For instance:
- Route invoices over $10,000 to senior administration
- Ship IT purchases to your IT crew first
- Require a number of approvals for particular distributors
- Arrange parallel approvals for sooner processing
The system maintains an entire audit path of who accredited what and when, making it simple to trace accountability and guarantee compliance along with your approval insurance policies.
5. Getting your information into Sage Intacct
As soon as paperwork are processed and accredited, you must get this information into Sage. Nanonets presents a number of methods to export your processed information:
- Obtain as CSV recordsdata for customized reporting
- Use APIs for customized workflow integration
- Direct sync with Sage
- Automated information compilation primarily based in your guidelines
The Sage Intacct-Nanonets devoted integration lets you:
- Create invoice data robotically
- Sync vendor info in real-time
- Keep constant coding throughout programs
- Present detailed sync standing updates
- Use accomplice SenderID for seamless connectivity
The platform is designed for finance groups to handle independently, with out requiring technical experience.
Seems to be good on paper? Nicely, let me share an actual instance of how an organization remodeled their AP processes utilizing Nanonets’ AI-powered workflows.
Asian Paints, a number one producer of paints and coatings, automated their whole AP workflow utilizing Nanonets. Earlier than automation, their AP crew spent hours manually processing invoices, matching paperwork, and updating their accounting system. Every doc took about 5 minutes to course of, and errors have been frequent regardless of their finest efforts.
After implementing clever automation:
- Processing time dropped to 30 seconds per doc
- Groups saved 192 hours month-to-month
- Accuracy improved considerably
- Employees may lastly give attention to strategic duties
- Buyer satisfaction reached 8/10
The system begins delivering worth instantly with Zero Shot fashions, whereas Customized and Instantaneous Studying fashions enhance accuracy over time as they be taught out of your corrections.
What to do subsequent? Should you’re seeking to reduce your bill processing time and save hours on AP duties, you’ll be able to schedule a personalised demo with us. We’ll present you precisely how Nanonets suits into your particular Sage Intacct workflows and assist automate your AP course of end-to-end.
