ATLANTA, May 24, 2023 (GLOBE NEWSWIRE) — Today, Sage, the leader in accounting, financial, HR, and payroll technology, announced a series of innovative updates to Sage Intacct to help businesses across the world simplify financial consolidations, streamline operations and improve financial planning.
“Midsize businesses require speed and agility in the finance and accounting workflows that underpin every facet of their operations,” said Dan Miller, EVP Sage Intacct. “We’re helping them modernize their financial management systems to streamline processes and gain insights, enabling them to drive efficiency, reduce costs, and prepare for rapid growth.”
Partial Ownership through Tiered Consolidations
This innovative feature streamlines the consolidation process at an entity level by period, taking ownership percentages into account. By simplifying partial ownership through tiered consolidations, Sage Intacct enables businesses to save time and resources while increasing accuracy.
The solution addresses a significant need in the market for a more flexible and comprehensive approach to financial consolidation for businesses expanding and diversifying their portfolios.
Key Benefits of Partial Ownership through Tiered Consolidations include:
1. Improves accuracy and efficiency, as different ownership percentages across multiple entities are accounted for. Businesses can avoid time-wasting corrections and minimize complexity with automated consolidations, currency translations, non-controlling interest, and eliminations.
2. Ensures accurate and transparent financial reporting, giving stakeholders a clearer and more accurate picture of the business’s financial health. They can then make better-informed decisions about investments, resource allocation, and strategic planning.
3. Streamlines workflows, enabling businesses to save time and reduce the risk of errors. Ownership history management allows users to confirm accuracy of ownership structures by reporting period.
4. Allows for greater flexibility and customization, as users can easily adapt the feature to their unique needs and preferences. Businesses can manage complex ownership structures by period with reporting books generated for each reporting level and parent entity.
Partial Ownership through Tiered Consolidations is now available for Early Adopter users in the US, UK, Canada, Australia and South Africa.
Sage Distribution and Manufacturing Operations (SDMO)
A purpose-built cloud-native ERP solution designed and developed for midsized distributors and discrete manufacturers who want to be more resilient, agile and responsive in an ever-changing world.
Powered by deep functional capabilities, SDMO simplifies complex business processes through industry best practices and guided workflows that make it easy to manage key processes across:
- Procurement – buy and put-away
- Manufacturing – make and assemble
- Distribution – sell and distribute
- Inventory and warehousing
- Resourcing and skills management
“Sage’s Intacct platform simplifies complex processes by leveraging years of experience and customer feedback,” said Rob Sinfield, VP Product, Sage. “Increased interest from our partners confirms the value of our solution. We know businesses want a simple, yet fully functional cloud transition, and we’re committed to delivering it.”
Sage Distribution and Manufacturing Operations is now available for Early Adopter users in France, UK, US, South Africa, Namibia and Canada.
Sage Intelligent Time
An AI-powered time tracking tool for Sage Intacct, providing organizations with accurate and real-time insights to profitably manage their operations. The software uses machine learning algorithms to automate time tracking, reducing manual effort and empowering organizations to make data-driven decisions about staffing and project management.
Sage Intacct Planning
An intuitive financial planning and analysis solution designed for SMBs that streamlines budgeting, forecasting, and ‘what-if’ scenario analysis. With powerful and easy to use features, it brings finance and operations teams together to plan more effectively, resulting in simplified, insightful, and results-driven budgets.
Sage Intelligent Time and Sage planning are available for general availability in the US and UK.
Sage exists to knock down barriers so everyone can thrive, starting with the millions of Small and Mid-Sized Businesses served by us, our partners, and accountants. Customers trust our finance, HR, and payroll software to make work and money flow. By digitizing business processes and relationships with customers, suppliers, employees, banks and governments, our digital network connects SMBs, removing friction and delivering insights. Knocking down barriers also means we use our time, technology, and experience to tackle digital inequality, economic inequality, and the climate crisis. Learn more at www.sage.com/en-us/
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