Integrate Sage Intacct and Yooz for a streamlined accounts payable solution that drives business growth.
Today businesses are constantly under pressure to streamline their operations, reduce errors, and optimize cash flow management. Nowhere is this pressure more apparent than in the gatekeeper of cash outflow - the Accounts Payable (AP) department - where outdated, manual accounts payable processes can create significant bottlenecks and inefficiencies.
Manual AP processes are notorious for being time-consuming, error-prone, and costly. However, the rise of automation tools, including accounts payable automation, is helping businesses not only simplify their AP processes but also make them smarter and more efficient. Two leading names at the forefront of this transformation are Sage Intacct and Yooz, two industry leaders that together offer a powerful, integrated solution to automate accounts payable tailored to the needs of finance departments in any industry.
Let’s Talk Automation
To understand just how beneficial using an integrated AP solution can be for the business, it is important to recognize the benefits of a comprehensive payable automation solution and understand AP automation itself.
AP automation is the process of using leverages technology to streamline and optimize the accounts payable process. This ranges from invoice processing all the way through payment handling and reconciliation. Incorporating accounting software in this process significantly enhances financial management processes by improving internal controls and scalability.
Why Implement AP Automation
AP automation is crucial for modern businesses. By leveraging technology to reduce the time and effort required with manual tasks, companies can significantly reduce costs and minimize the risk of errors. This scalable technology not only improves the efficiency but also provides better visibility into financial operations, better cash flow management and financial control.
Furthermore, by freeing staff from repetitive, manual tasks, companies can redirect their focus towards strategic initiatives that drive overall business growth.
Understanding the Basics
Some of the tasks automated by advanced AP automation software and technology include:
- Invoice receipt and data entry
- Invoice approval and payment processing
- Reconciliation and payment matching to reduce discrepancies
- Vendor management and communication to strengthen relationships.
What is the Sage Intacct Financial Management Solution?
Sage Intacct is a best-in-class Enterprise Resource Planning (ERP) accounting software that allows businesses to manage core financial processes within a single, integrated cloud-based system. Known for its ease of use and extensive customization capabilities, Sage Intacct is also the preferred financial management solution of the American Institute of Certified Public Accountants (AICPA).
Some of the capabilities of the Sage Intacct platform include:
- Automation: Automated processes including Sage Intacct accounts payable, accounts receivable, cash management, and general ledger. Sage Intacct accounts streamline AP processes by eliminating manual tasks, optimizing invoice management, and incorporating AI technology to enhance efficiency and accuracy in handling vendor payments.
- Real-time insights: Provides real-time insights into key financial metrics through customized dashboards.
- Multi-entity functionality: Allows users to create multiple entities and transact against them in a single environment.
- Time and expense management: Uses timesheets and reporting to provide visibility into time, billing, and expense management.
- Fixed assets management: Automates the asset management and depreciation process.
- Integration with other business applications: Integrates with other business applications to manage financials alongside other business functions. The Sage Intacct Marketplace further enhances AP automation through third-party integrations, offering a broader range of functionalities and addressing areas of improvement within Sage Intacct's capabilities.
These and more make the platform a critical tool for streamlining daily operations.
Elevating ERP Payable Automation
Sage Intacct's AP automation features are designed to eliminate manual tasks, reduce approval times, and increase overall efficiency. Automated workflows ensure that invoices more swiftly through the approval process, eliminating paper trails, reducing bottlenecks, and expediting payments.
However, standard ERP payable automation is just the beginning. By integrating a dedicated, third-party AP automation provider, especially one like Yooz that provides seamless integration capability, businesses can optimize their payable automation capabilities to unlock even greater efficiencies.
Consider this: research from Ardent Partners indicates that using automation software can reduce invoice processing time from an average of 17.4 days (manual processing) to just 3.1 days for top-performing AP teams.
This dramatic improvement in efficiency is key to staying competitive in today's market.
Yooz and Sage Intacct: The Perfect Pairing
Yooz is an award-winning platform designed to optimize the entire accounts payable automation process. The platform's strength lies in the ability to leverage cutting-edge technology like Artificial Intelligence (AI) and Machine Learning (ML) to turn traditionally labor-intensive accounts payable tasks into a seamless, automated process. When integrated with Sage Intacct's cloud-based ERP financial software, this powerful combination streamlines invoice management and payment workflows, improving financial control and visibility over the entire process.
The Yooz-Sage Intacct pairing provides businesses with real-time visibility into invoice and payment statuses while automating key tasks such as invoice capture, data entry, and payment initiation. This streamlines the AP process, significantly reducing cycle times and processing costs. In fact, Sage Intacct customers have reporting significant savings and improved functionality by integrating with Yooz.
Furthermore, in addition to these efficiencies, the integrated solution increased fraud prevention, strengthens internal controls, accelerates supplier onboarding, and delivers substantial cost savings. All while improving overall functionality for businesses and improving growth.
What About Capabilities and Benefits?
With Yooz's OCR and AI-powered capabilities, manual data entry becomes a thing of the past. The seamless integration with Sage Intacct financial software ensures accurate, real-time updates, giving businesses greater transparency into their cash flow and improving financial control and visibility. This hands-free approach not only increases productivity but also enables informed decision-making, driving growth and efficiency.
By integrating Sage Intacct and Yooz, you can:
- Automate manual data entry and reduce errors
- Streamline invoice processing and approvals
- Gain real-time visibility into your AP process and cash flow
- Optimize your AP workflow and drive business growth
- Eliminate manual processes and increase productivity
Together, Yooz and Sage Intacct provide a smarter, more efficient way to manage accounts payable, freeing businesses to focus on growth and innovation.
Why Yooz? The AP Automation Software Advantage
When it comes to AP automation, Yooz offers a comprehensive solution that amplifies Sage Intacct's capabilities with expertise built on over a decade of continuous innovation and research. By integrating Yooz with Sage Intacct, you gain access to advanced features that improve every aspect of the accounts payable process.
Real-Time Data Synchronization
Yooz ensures that data flows seamlessly between systems. The software updates transactions instantly in Sage Intacct, ensuring that your team is always provided with the most current information.
Invoice Image Push
Yooz is the only solution that directly pushes images into Sage Intacct, making it easier to track and verify invoices without needing to switch platforms.
P.O. Integration
Yooz connects with Sage Intacct's purchasing module, automatically pulling purchase orders and receipts for a smooth, end-to-end purchasing and payment process.
Document Management
Beyond just invoices, Yooz sends additional document types to Sage Intacct, allowing purchase orders to be closed within the ERP after approval. Invoice statuses are automatically updated to "paid", further streamlining your workflow and saving time.
Payment Security and Compliance
Data security and compliance are critical parts of any accounts payable software solution. With the increasing threat of cyber-attacks and data breachers, businesses must be careful to ensure that their AP automation solution is secure and compliant with industry regulations.
Yooz provides comprehensive security safeguards including:
- Encryption and secure data storage
- Access controls and user authentication
- Audit trails and transaction logging
- Compliance with industry regulations such as The Payment Card Industry Data Security Standard (PCI-DSS) and the General Data Protection Regulation (GDPR).
In Conclusion
Integrating Sage Intacct and Yooz presents an unparalleled opportunity to drive business growth and efficiency in your accounts payable process. By automating manual tasks, reducing errors, and providing real-time visibility into financial operations, this integrated solution enhances efficiency and supports strategic decision-making.
Furthermore, the seamless synchronization of invoice data, coupled with advanced automation features, allows businesses to optimize cash flow management and unlock growth potential.
As businesses continue to face and increasingly competitive environment, the powerful combination of Sage Intacct and Yooz will empower them to stay ahead, streamline their AP workflows, and focus on innovation, agility, and long-term success.
Next Steps
Ready to learn more about what the Sage Intacct/Yooz integration can transform your AP processes and drive efficiency in your business? Reach out today to speak with a knowledgeable representative and schedule your personalized demo, tailored to address your specific needs and goals.
