Sage reveals AI-powered assistant for accounting & finance sector

In a world where the potential of Artificial Intelligence (AI) is highly recognised but not yet widely used, Sage aims to change the status quo with the announcement of Sage Copilot, an AI-powered virtual assistant designed to meet the demands of the accounting and finance industry and bolster the productivity of Small to Mid-Sized Enterprises (SMEs).

According to recent data from the Office for National Statistics (ONS), 85% of UK businesses have yet to utilise AI and an additional 83% have no plans to incorporate AI technology into their operations within the next three months. Sage Copilot could potentially challenge these statistics, offering businesses a sizeable competitive edge in an increasingly digitised marketplace.

Sage Copilot, an AI-powered assistant, is programmed to forecast, manage cash flow and prepare and send invoices to clients. With capacity to handle administrative and repetitive tasks, this unique AI technology offers key insights to shape business growth and aid decision-making, allowing business owners, CFOs, accountants, and HR leaders more time and space to concentrate on business development and scalability.

Focusing on the needs of accountants, Sage Copilot also automates workflows while identifying errors and generating actionable insights. Access controls, robust encryption and compliance with data protection regulations ensure accuracy, security and trust throughout the development process, making Sage Copilot a reliable tool for every business.

Steve Hare, Sage CEO shared his excitement about this innovative approach, stating that Sage Copilot "revolutionises small and mid-sized businesses and accountant productivity by bringing trusted AI into the heart of their operations—automating tasks and providing insights to fuel growth and efficiency. It's not just an AI feature; it's a commitment to building a future where businesses can focus on their goals, supported by AI they can trust from Sage".

Sage Copilot doesn't only automate tasks but also provides pro-active suggestions to improve cash flow. By accelerating customer payments, enhancing working capital and supporting smarter financial decisions, it addresses cited priorities of SMBs worldwide.

Some key features of Sage Copilot also include: intelligent understanding where it makes use of natural language to interpret commands conversationally. It simplifies task management and automation by organising tasks based on urgency, hence saving time and effort. It assists with communication by preparing messages with the correct tone and timing and offers insights, reports and customised analyses to support decision-making processes while integrating with other apps to provide seamless workflow.

With Sage Copilot, communication with clients becomes more efficient as it helps automate financial data collection and aggregation, saving valuable time, reducing the risk of manual errors and boosting confidence.

Caroline Armstrong, Director at Infinitas Accountants remarked on the transformative potential of Sage Copilot, stating that the technology would "elevate my role as a strategic partner even further, allowing me and our firm to support our clients' financial success more accurately and confidently".

Sage Copilot will be available later in 2024 as part of the Sage for Small Business and Sage for Accountants suites, offering an impressive addition to the array of tools that businesses can utilise to amplify productivity, growth and efficiency.