Carlson Thought Leadership in Finance & Technology

Amazing New Technology Featured in Sage Intacct's Last Release of 2020

December 15, 2020 / by Mary Beth Gossart

On November 15, 2020 Sage Intacct rolled out release 4 of 2020, which included some great changes to the product including some amazing new technology features brought to us from the Sage AI lab. Yes, that’s right the AI lab. This lab is run by one of Intacct’s founders Aaron Harris and is working hard to make amazing improvements in Sage Intacct. The first module to take advantage of AI and machine learning is the General Ledger. I am so excited about this I can’t stop talking about it! Currently this is in production for early adopters and will be generally released soon. The feature is called GL Outlier Detection and runs on journal entries. If it detects an anomaly it notifies the approver. The approver can then tell the system if it was right or wrong and the system will learn from that. You would be surprised how many journal entries contain errors. So, this all got me to thinking about my move to working with Sage Intacct.

One of the exciting things for me about switching to Sage Intacct and the cloud from on premise is feature releases. With Sage Intacct every quarter there is a new release and every instance of Intacct gets that release all at once. These are not just “bug fixes” they are real feature releases, containing great product enhancements 50% of which users have suggested. Sage Intacct listens to the users and has them vote on things they want to see in the product. Users don’t have to present a business case and hope someone will listen, Intacct’s engineers listen.

If you have on premise software and want to take advantage of the newest features of the product you have to go through a time consuming, stressful and costly upgrade so most companies just skip it until they are forced to upgrade due to version retirement or hardware incompatibility. In today’s world our devices update automatically overnight shouldn’t your ERP software do that also? There are consulting companies out there whose main revenue stream is just upgrading on premise software, I should know I used to work for one, how does that affect your business? If you have an on premise ERP you are already paying the publisher yearly for the newest feature release and if you don’t perform a costly upgrade you are still paying the publisher and you have nothing to show for it. Go to the cloud!

I am aware that if you have an on premise ERP solution there are ways to get around paying the annual maintenance costs and avoiding upgrades for long periods of time. If this is your business model, then stop reading because Sage Intacct and the cloud are not for you and never will be. For everyone else yes you must pay your annual subscription if you move to the cloud, but you should be paying that for your on premise also. Yes, there are consequences if you don’t pay that subscription if you are in the cloud that you will not face if you are on premise.

In these trying times money is tight and everyone is looking at all their costs trying to make sure they are spending in the right places. That is exactly why making the move to the cloud is so important now! If staff are working remotely why not have an ERP that can be accessed by staff no matter where they are whenever they want to log on? With money being tight companies do not need to spend money on the infrastructure needed to run on premise software. What they do need is insight. Insight into the numbers to make strategic decisions. Sage Intacct’s real time reports and dashboards give you visibility to your numbers and help you gain the insight you need to make strategic decisions. I myself love the dashboards, ok some might say I am obsessed with the dashboards, having everything you need to see in one place is something I would have loved to have when I was a CFO.

Yes, money is tight decrease your DSO by an average of 25-50% by using Sage Intacct’s automated processes in Accounts Receivable and Order Entry. Take advantage of the features of the software just voted one of the best billing and invoicing software’s for 2020 by Digital.com.

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