Each month, monetary groups race towards time – reconciliations, approvals, and experiences! The month-end shut can typically really feel like Groundhog Day, with groups working extra time to course of tons of of invoices, match numerous transactions, and catch any uncommon entries earlier than they turn out 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 entice and transfer towards steady, real-time monetary administration.
On this information, I’ll take you thru Sage’s completely different AI options and the way to broaden Sage’s AI capabilities.Â
Sage Intacct AI: Native options defined
The way forward for accounting is not about sooner month-to-month closes. The main target is progressively shifting to eliminating closing cycles. No less than this has been the driving pressure behind Sage’s current updates.Â
The goal is to have AI continually monitor your monetary information, catching points earlier than they turn out to be issues and automating routine duties in real-time. Extra of steady accounting quite than periodic sprints.Â
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 normal ledger for anomalies and potential errors. The thought 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 towards 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, should 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’d have used Microsoft’s Copilot or a minimum of seen it. Nicely, now Sage too has a Copilot. It’s mainly 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 need to 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 it’s essential to verify finances variances for this quarter. Now you possibly can merely ask Sage Copilot to provide the variations between budgeted and precise figures. You may go a step additional and ask the place the numerous variances are. It can provide help 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 group spends on guide information entry and bill processing.
The way it works:
- Add payments instantly or ahead them to a devoted electronic mail deal with
- System creates draft payments utilizing AI to extract bill information
- Matches data towards your chart of accounts
- Routes payments by means of your approval workflow
- Posts permitted payments robotically to your GL
For instance, while you obtain an bill through electronic mail, you possibly can ahead it to your devoted Sage electronic mail deal with. 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 provide help to take first steps towards steady accounting. Nonetheless, you could quickly discover out that you simply 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 diverse doc codecs typically requires further capabilities.
That is the place integration options like Nanonets are available in. Let me present you the way to broaden Sage’s AI capabilities to deal with extra complicated monetary workflows.
[Image source: Sage’s official website]
Easy methods to broaden Sage’s AI capabilities
Nanonets is an Clever Doc Processing platform that integrates instantly with Sage Intacct. Whereas Sage’s native options deal with primary automation, Nanonets takes it additional by processing any kind of economic doc and establishing automated workflows.
Let me present you the way Nanonets AI can assist broaden your automation capabilities:
1. Automated doc import
The primary problem in any AP course of is doc consumption. Nanonets affords many add choices, permitting you to robotically course of and add extracted information to Sage Intacct.
- Mechanically captures invoices from electronic mail inboxes
- Displays particular folders in Google Drive, Dropbox, or your inside 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 may even use API integrations to robotically feed paperwork out of your present programs instantly into the processing workflow. This ensures all monetary paperwork are captured and processed constantly, no matter their supply or format.
2. Clever information extraction and processing
As soon as paperwork are within the system, the subsequent 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
- On the spot 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 may customise how the AI reads your paperwork by offering clear descriptions for every discipline. For instance, as a substitute of merely labeling a discipline as “invoice_number”, you possibly can specify “A novel alphanumeric identifier situated on the prime proper, beginning with ‘INV-‘ adopted by 8 digits.”
The system affords subtle 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 together with your Sage data robotically
- Learns from person corrections to repeatedly enhance accuracy
- Validates extracted information towards predefined guidelines and flags discrepancies
Within the above GIF, you possibly can see how the AI immediately extracts normal fields and matches vendor names towards your Sage vendor checklist. You additionally get a dropdown to confirm or regulate matches when wanted.
For line gadgets, it captures all particulars in structured tables and robotically maps every line to your Sage GL accounts. You may evaluate and regulate 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 deal with sorts (billing vs transport)
- Separates header data from line gadgets
- Acknowledges varied 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 determine which paperwork want guide evaluate and which could be processed robotically.
3. Automated GL coding and matching
Guide coding of transactions and matching paperwork towards buy orders are sometimes duties that no AP groups sit 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:
- Automated GL code options
- Good matching between invoices, POs, and receipts
- Actual-time validation towards your small business guidelines
- Customized routing for exceptions and discrepancies
- Steady studying out of your group’s corrections
You may arrange completely different validation guidelines primarily based in your wants, like:
- Match line gadgets individually for detailed reconciliation
- Evaluate whole quantities for fast validation
- Verify particular fields like tax charges or fee phrases
- Flag mismatches above sure thresholds
The influence could be vital. It could 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 display compliance throughout audits.
4. Approval workflows
Getting invoices permitted is commonly the place bottlenecks happen. You might 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 (electronic mail, Slack, Groups)
- One-click approvals from any system
- Automated reminders for pending gadgets
- Actual-time visibility into approval standing
You may arrange approval workflows that match your small business wants. For instance:
- Route invoices over $10,000 to senior administration
- Ship IT purchases to your IT group first
- Require a number of approvals for particular distributors
- Arrange parallel approvals for sooner processing
The system maintains an entire audit path of who permitted what and when, making it simple to trace accountability and guarantee compliance together with your approval insurance policies.
5. Getting your information into Sage Intacct
As soon as paperwork are processed and permitted, it’s essential to get this information into Sage. Nanonets affords a number of methods to export your processed information:
- Obtain as CSV information 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 data in real-time
- Preserve constant coding throughout programs
- Present detailed sync standing updates
- Use associate SenderID for seamless connectivity
The platform is designed for finance groups to handle independently, with out requiring technical experience.
Appears to be like 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 complete AP workflow utilizing Nanonets. Earlier than automation, their AP group 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 greatest efforts.
After implementing intelligent automation:
- Processing time dropped to 30 seconds per doc
- Groups saved 192 hours month-to-month
- Accuracy improved considerably
- Employees may lastly deal with strategic duties
- Buyer satisfaction reached 8/10
The system begins delivering worth instantly with Zero Shot fashions, whereas Customized and On the spot Studying fashions enhance accuracy over time as they study out of your corrections.
What to do subsequent? In case you’re trying to lower your bill processing time and save hours on AP duties, you possibly can schedule a personalized demo with us. We’ll present you precisely how Nanonets matches into your particular Sage Intacct workflows and assist automate your AP course of end-to-end.
