Here we look at the most recent updates to Sage’s Intacct software and how it can benefit you as a user and what they mean.
The most recent updates and features released for Intacct have been designed to enhance the financial management and operational efficiency of medium-sized businesses.
These updates focus on automation, improved insights, and streamlined workflows, which are crucial for businesses looking to optimise their financial processes and make data-driven decisions. These features are designed to streamline processes, enhance data integrity, and ensure regulatory compliance.
In this article, we’ve spilt it down into 2 sections:
- Key Features in 2024
- Product enhancement updates for 2024
1. Key Features in 2024
- Commitment Compliance Tab: The key documents (commitments) for compliance records now have a new Commitment compliance tab. Records pertaining to insurance, miscellaneous, and lien waiver compliance that are linked to a primary document ID are included in this tab. This page allows users to manage and track compliance-related documents more effectively by adding, editing, and deleting compliance records.
- Allow Lien Waivers with Negative Amounts: Users can now create lien waivers with negative amounts using Sage Intacct. This is made possible by the “Allow lien waivers with negative amounts” button, which, when checked, allows negative lien waivers to be generated. With this capability, processing lien waivers is more flexible and can accommodate a variety of scenarios that may happen during financial transactions.
- Improved Lease Insurance Administration: New fields for emails and the Notification Date have been added to the Lease Insurance section. By offering more thorough information and notifications on lease insurance, these improvements facilitate easier lease management and improve lease agreement compliance.
- Audit Trail Solution: Sage Intacct is developing a solution that, in the event that an item is modified, creates audit logs without requiring the Audit Trail package to be installed. By removing the requirement for additional installations, this initiative seeks to streamline the process of producing audit trails – which are essential for compliance and risk management.
- Compliance Management Features: Sage Intacct has strong compliance management tools that make it easy for businesses to comply with legal regulations. These capabilities enable organisations to effectively manage their compliance requirements by supporting adherence to industry standards and regulatory frameworks.
These new features strengthen Intacct’s compliance and risk management architecture, empowering businesses to uphold strict compliance requirements, handle risks more skilfully, and guarantee the accuracy of their financial data.
2. Product enhancement updates for 2024
Below, we’ve listed the Sage Intacct Product Enhancements that you may find useful. Not all enhancements are available in all countries.
AI-Driven Automation of Professional Services
Assisting companies in actually transforming their project management powered by Forecast, Sage Intacct’s AI-powered Project & Resource Management enhances visibility into resource allocation, ensuring timely project completion and maximising delivery across all businesses.
Fixed Assets Management
Sage Fixed Assets Management, a feature of Sage Intacct, simplifies asset tracking from purchase to disposal. Its user-friendly design ensures compliance with tax and financial regulations by automating multi-book depreciation.
Acting as a complete hub, its easy-to-use design makes self-implementation simple and hassle-free, guaranteeing a straightforward onboarding process.
Data Flows for Seamless Connectivity
Intacct’s Data Flows feature enables users to quickly and affordably connect their disparate data systems. This means that business users can connect to apps like CRM software or Excel spreadsheets and the data they want for their everyday tasks swiftly and securely.
It is easy to set up and doesn’t require expensive technical knowledge, which speeds up the process and allows users to accomplish more while providing insightful information. Additionally offered is a prebuilt HubSpot connector that aids in combining sales and financial data for a comprehensive picture.
Forms and Operational Flows
Businesses may significantly enhance their workflow with Intacct’s Forms and Operational Flows. The integration of self-service portals with an intuitive form builder facilitates data collection and sharing, it minimises manual tasks, and ensures accuracy of data in financial and daily operations.
Users can do more with this tool’s flexibility, which allows you to digitise a variety of activities like obtaining approvals, sharing data with other apps, and more. Because of its ease of use, companies can improve their standard processes without requiring outside services or IT support.
Non-profit Forms and Operational Flows
Providing pre-made flows specifically designed for non-profit organisations can help them expedite operations such as vendor contracts, donor-advised fund portals, and grant-making.
The prebuilt forms and flows can be utilised straight out of the box or customised for use with everything from grant applications to approvals to funding and payables.
Construction Commitment Compliance
Intacct enables users in the construction sector to automate the tracking of compliance requirements. It automates the tracking of compliance requirements and supporting documentation for construction commitments, catering to the specific needs of the construction industry. To ensure regulatory compliance, compliance records are verified at the time of AP payment issuing.
Global expansion for Sage Intacct
By introducing an early adopter programme for Sage Intacct Financials in Germany, Sage Intacct is continuing to extend its core financial solution throughout Europe. Facilitating the quicker and smoother expansion of operations using Intacct for multinational clients operating in Germany.
Distribution and Manufacturing Operations for Sage Intacct
To help distributors and manufacturers make decisions on resource utilisation more quickly, Distribution and Manufacturing Operations for Sage Intacct is constantly improving its robust operations management. The platform uses AI to help expanding manufacturing and distribution businesses all over the world automate and streamline their procedures.
Who Are We?
Our company, Itas Solutions, is a multi-award-winning UK company that specialises in offering solutions for Sage accounting software.
Our primary goal is to provide thorough support and services for all Sage products, such as Sage Intacct, Sage 200, and Sage 50. We take great satisfaction in being a reliable partner for companies looking to upgrade or install accounting software.
Being recognised as a multi-award-winning Sage Partner underscores our commitment to excellence in financial transformation consulting and Sage technology.
Our team consists of technical specialists and transformation consultants who work together to help businesses optimise their financial processes using Sage software.
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