Sage Debuts AI Tools for Small Business Accounting Teams

Accounting/payroll technology firm Sage is rolling out its AI tool, Sage Copilot.

Announced Tuesday (Dec. 3) for early adopters in the U.S. and U.K., Copilot is designed to help accounting and finance teams at small- to medium-sized businesses (SMBs) tackle daily challenges such as highlighting budget variances and getting clear, trustworthy answers to critical how-to queries.

“Sage Copilot empowers users to work smarter and faster, streamlining tasks and uncovering insights that drive meaningful business results,” the company said in a news release. “Sage is working closely with customers to deliver on its vision to help organizations drive productivity, accuracy, and compliance, helping SMBs to focus on growth and profitability.”

The company said this launch comes at a “pivotal moment,” as its research finds that 80% of finance chiefs are employing AI to reclaim time for high-value tasks, with 89% saying they face significantly expanded responsibilities because of technology and global complexities.

“We know that finance leaders are looking for ways to save time, drive strategic initiatives, and support business growth,” said Dan Miller, executive vice president of financials and enterprise resource management division at Sage. “With the introduction of Sage Copilot, alongside our other enhancements, we are helping them take a major step towards that goal. By empowering users with tools that help assist with time-consuming tasks, we are enabling them to be more proactive and focus on delivering long-term growth for their organizations.”

Sage’s findings are consistent with recent PYMNTS Intelligence/Finexio research from the report “Automating Accounts Payable for Cost Savings,” which showed that 79% of chief financial officers (CFOs) see AI integration as crucial for accounts payable (AP).

“The advantages of automating AP processes are extensive. Companies that adopt these technologies can reduce the risks associated with fraud,” PYMNTS wrote last month.

“According to the report, paper checks account for about 60% of fraud cases in B2B transactions. By eliminating checks, businesses can diminish their exposure to fraud; more than one-fifth of mid-sized firms expect automation to support their fraud prevention efforts.”

In addition to security, AP automation bolsters cash flow. Roughly 44% of mid-sized businesses expect that automation will yield cost savings and improved cash flow management. Another benefit comes from improved data analytics capabilities, with 53% of AP leaders stressing the importance of enhanced reporting and insights, which streamline decision-making processes.

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