July 12, 2023

How Sage Intacct Is Transforming the Finance Office and Empowering the Rise of Digital Companies

Sage Intacct

Blog > How Sage Intacct Is Transforming the Finance Office and Empowering the Rise of Digital Companies


Sage Intacct Automation

The finance office is critical in managing an organization’s financial health and stability. However, traditional finance processes can be time-consuming and error-prone.

Organizations need accurate, up-to-the-second data to make future-shaping decisions and ensure regulatory compliance. That’s difficult to achieve with small business accounting applications, manual data entry, spreadsheets, and paper-based methods.

“Accounting and accountants are core to a successful business,” says Derek Sullivan, VP Atlantic at Vision33. “Accountants bring strategic skills and value to the organization, and it’s a mistake to keep them buried in routine processes that can be automated. Through automation, we can enable someone with vast knowledge to fully apply it to financial analysis and strategic decision-making.”

Here are a few ways Sage Intacct, a modern, cloud-native financial management solution, is leading the charge in transforming the finance office and empowering the rise of digital companies.

Automation

Sage Intacct automates accounting processes like accounts payable (AP), accounts receivable (AR), data entry, bank reconciliations, multi-entity consolidations, and report generation.

The benefits of automation are undeniable—it saves time, reduces human error, ensures accuracy, and empowers organizations to do more with less.

“Think about entering an AP invoice,” says Jasper Harlaar, GM Central Canada at Vision33. “Where’s the value-add for the organization? Making sure the invoice is correct? You can use automation for that.”

Automation eliminates manual data entry and repetitive tasks, so accounting and finance professionals are more productive and can focus on more strategic activities.

Flexibility

Sage Intacct adapts to changing business requirements, such as new entities, increasing transaction volumes, and seamless integration with a growing list of other systems. Its flexibility and scalability empower organizations to efficiently manage accounting functions without additional resources.

Advanced Analytics

Financial professionals get instant, valuable insights into financial performance with Sage Intacct. Its robust reporting and dashboards enable multidimensional analysis and drill-down capabilities, which help identify trends and allow fast, confident decisions.

Artificial Intelligence

Artificial intelligence (AI)—a set of advanced analysis and logic-based techniques—expands what automated systems can do, enabling them to imitate human thought and handle higher complexity.

Several financial management systems on the market include some AI—but Sage Intacct has embedded AI. And AI’s value is its ability to supplement human work and free time for people to focus on strategic, higher-value initiatives.

“Accountants are known for doing month-ends, year-ends, consolidating books, and making sure a company has a correct set of information,” Jasper says. “But the power of these individuals is the analysis they do. That’s the value they provide. Making sure the books are correct? You can get a machine to do that. And that’s what Sage Intacct is doing. It’s fantastic.”

For example, when there are incorrect entries in the general ledger, Sage Intacct’s AI flags them, makes suggestions, and learns from them.

“Having timely and accurate numbers is vital,” Derek adds. “If you can automate that, rely on it, trust it, and know there’s AI that checks it and brings irregularities to someone’s attention, that’s great for business growth. It creates more jobs where people can do strategic and valuable work rather than rote tasks. As a global partner, Vision33 implements Sage Intacct, the most trusted name in accounting solutions, to realize this potential for our customers.”

The Digital Company

The term ‘digital transformation’ has been circulating for years. Ask a handful of people what it means, and you’ll get a handful of answers.

A simple definition is using technology to reform processes and make your business run better; in fact, digital transformation fundamentally changes how companies operate and generate value.

“Sage Intacct is transforming companies that ‘do’ digital transformation into digital companies,” Jasper notes.

Digital companies reduce or eliminate mundane accounting work like AP and AR. They embrace automation and AI that improve operational efficiency, enhance customer relationships, elevate their finance teams, and empower data-driven decisions.

“There’s a change happening in the accounting and finance world,” Jasper concludes. “The idea of an AP or AR reconciliation and subledgers? Gone. Manually entering AP and AR? Gone. That’s what the digital company is about. It’s cool. We’re living in an innovative time.”

Get a Sneak Peek of Sage Intacct

Want to witness Sage Intacct in action? Join Vision33’s Sage Intacct implementation consultants for a live demo (there’s one every Friday). By the end of the session, you’ll understand how Vision33 will enable you to transform your finance office and empower your organization to become a digital company with Sage Intacct.

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