Sage Debuts AI Tools for Small Business Accounting Teams

https://www.pymnts.com/news/b2b-payments/2024/sage-debuts-ai-tools-for-small-business-accounting-teams/

Sage has introduced Sage Copilot, an AI-powered tool designed to help small and mid-sized business (SMB) accounting and finance teams handle tasks like identifying budget variances and answering key financial questions. Launched for early adopters in the U.S. and U.K., Sage Copilot aims to boost productivity, accuracy, and compliance, allowing businesses to focus on growth.

The rollout comes as AI adoption accelerates in finance—80% of finance chiefs are already using AI to free up time for higher-value work, and 89% say technology is expanding their responsibilities. Sage sees Copilot as a way to help finance leaders streamline workflows and drive strategic initiatives.

The benefits of AI in finance extend beyond efficiency. Research shows that AI-powered automation in accounts payable (AP) can reduce fraud risk, improve cash flow management, and enhance data analytics. With 79% of CFOs recognizing AI’s role in AP, businesses are increasingly looking to AI to cut costs and strengthen security.

Sage’s move highlights the growing role of AI in financial management, making advanced tools more accessible to SMBs.

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