Transforming Finance with AI: Insights from Sage Executives
AI is playing a pivotal role in reshaping the finance sector into a strategic growth engine. During a recent webinar, Sage executives Erika More and Tasneem Dajee discussed how generative and agentic AI can enhance efficiency and provide deeper financial insights.
The Current Landscape of AI in Business
Despite the significant advantages offered by AI, a survey conducted during the webinar revealed that 35% of participants have yet to integrate AI into their business practices. Erika More, Director of Sage Intacct for Africa and the Middle East, pointed out that while 86% of CFOs globally acknowledge adopting AI, only 49% have fully integrated it into their financial operations.
Sage Intacct: A Cloud-Based Solution
Attendees learned about the advanced features of Sage Intacct, a cloud-based accounting system, which now includes multiple AI agents designed to automate various accounting processes. This integration not only enhances real-time visibility but also automates tasks, enabling scalable control over financial operations.
Trusted and Responsible AI Integration
Erika More emphasized that Sage is committed to integrating trustworthy, responsible AI into finance functions. “This is trusted, responsible AI built specifically for Sage,” she stated. Notably, Sage Intacct’s AI agents encompass several specialized roles, including Accounts Payable, Timekeeping, Closing, Insurance, and the newly launched Financial Intelligence Agent.
Continuous Improvements for Users
Tasneem Dajee highlighted that Sage Intacct is entirely cloud-native, allowing users to access the system anytime and from any device. With four automatic updates each year, clients can benefit from the latest features, having introduced over 230 new capabilities in the last financial year. This system is particularly beneficial for multi-entity, multi-currency businesses, ensuring secure access for various users.
Enhancing Financial Analytics and Control
Tasneem further elaborated on how Sage Intacct utilizes dimensional accounting and tags, enabling businesses to expand their analytics effortlessly. The system also provides enhanced controls over outliers, flagging unusual transactions while allowing users to query, collaborate on, and authorize transaction histories, thus maintaining an essential audit trail.
Revolutionizing Accounts Payable Automation
One of the standout features showcased was accounts payable (AP) automation. Dajee described it as a “complete game changer” for customers. Vendor transactions can be sent directly to a dedicated address linked to the Intacct instance, permitting users to manage and post transactions seamlessly.
Explore Sage Intacct Today
Both Erika More and Tasneem Dajee expressed eagerness to demonstrate Sage Intacct’s extensive capabilities. For those interested in learning more about how AI can revolutionize their finance functions, we invite you to visit Sage.