Tech news: Sage Intaact touts enhanced features for global market

Sage Intaact touts enhanced features for global market; Certinia's Summer 2024 release focuses on efficiency; Korean payments company SentBe goes global; and other accounting tech news.

Sage Intaact touts enhanced features for global market

Sage
Accounting solutions provider Sage is rolling out its AP Automation solution globally, which previously had been used in the U.S., among other new enhancements and updates for Sage Intacct customers. Sage also unveiled a new Sage Intelligent Time feature, with enhanced AI assistance, to support customers with the creation of more descriptive activity card titles and the option for automatic time entry descriptions; the ability to email receipts directly from any device, while AI and machine learning enhance coding accuracy and adapt to user modifications for future submissions; NF 203 certification from France's Infocert; support for the DATEV file format; an enhanced Interactive Custom Report Writer which provides detailed views on order summaries, customer aging, and purchasing activities; an enhanced email delivery service that leverages DomainKeys Identified Mail (DKIM) for security, as well as provide detailed email delivery logs for better visibility and supports multiple domains and sub-domains; a partnership with Kanso, a housing management platform, to deliver a comprehensive cloud solution for public housing management, enhancing compliance, data accuracy, and property management; the ability simultaneously hold or resume billing, revenue, and expense schedules across multiple contracts through an updated interface which features new filters like customer type, contract type, and transaction currency; the ability to export Taxable Payments Annual Reports (TPAR);  a joint check payment method specifically for the construction industry; and direct links between billing events and revenue recognition entries to source contract amounts.

Certinia's Summer 2024 release focuses on efficiency

New release
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Certinia, described as a Services-as-a-Business platform, announced its Summer 2024 Release with enhanced features focused on efficiency. The release incorporates a number of features in its Professional Services (PS) Cloud solution to accelerate resource management at scale and boost productivity. This includes resource shortlisting that enables an inclusive workflow that automates and tracks selection and decision-making logic across other key stakeholders; "mass actions" that allows resource managers to assign multiple resources with one click as well as make consistent updates to several requests at once; a demand-side resource request feature which enables customers to find the right resources who can fit the required schedule, but also retain the schedule even when they unassign resources; UX updates in Estimate Builder for services organizations that still use spreadsheets for estimation; real-time notifications; and billing caps which prevent billing beyond the agreed amount in the customer's purchase order. The new release also sports an editable Success Tracker that allows Customer Success Managers (CSMs) to plan and review success by directly editing tasks, dates, resources and statuses; an Activity Tracker that supports the centralized creation and editing of customer insights by anyone engaging with the customer; a new Account Health Score, tailored to each customer segment, which acts as a heat map, helping teams prioritize and act based on data signals; CS Cloud now captures customer objectives and key performance indicators (KPIs) from the sales cycle through adoption and beyond; new GenAI functionality leveraging Salesforce Einstein Copilot which provides hyper-personalization for scoping estimates, using account and delivery data to offer a unified view of the client, their requirements, and goals to generate project scopes; a year-end playbook and templates; the ability to automate the currency revaluation process for foreign currency bank accounts; flexible cash matching features to assist with AR; and the ability to centralize the preparation of 1099 forms into a single interface.

Korean payments company SentBe goes global 

Korean Won
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Korean cross-border payment solution company SentBe is preparing to launch its individual small-scale overseas remittance service globally following the launch of SentBiz KRW Collection for businesses needing Korean Won collection and multicurrency settlements within the Korean market. Having established a corporation in Singapore, Asia's forex financial hub, SentBe is accelerating its activities in providing overseas remittance and payment services. Additionally, SentBe touted its proprietary API settlement solution, 'SentBiz'. This service offers tailored financial solutions to global corporations that require local settlements in individual countries

Partnerships and integrations and M&A

AP-focused financial automation platform Stampli announced that it is the first Sage Intacct "Fintech Plus Tier Marketplace Partner" for AP Automation to have a validated specialty in Sage Intacct Construction (SIC) .Now these businesses can automate their AP processes using the combination of Sage Intacct Construction and Stampli. With accounts payable at its core and AI embedded at every point, Stampli centralizes all AP processes, streamlines workflows, reduces errors, supports timely payments to suppliers and subcontractors, and fosters better relationships.  …  Cockroach Labs, the company behind the cloud-native distributed SQL database market with CockroachDB, and PwC UK announced a strategic collaboration to reduce the risks, costs, and complexity of regulatory compliance and mainframe modernization. PwC UK and Cockroach Labs will offer end-to-end comprehensive solutions to banks and financial service institutions to assist with regulatory matters such as impending mandates around operational resiliency, business continuity, and data sovereignty. Additionally, they will support legacy system modernization initiatives for financial firms. … Lili, a financial platform designed for small businesses, today announced a strategic collaboration with Dun & Bradstreet, a business decisioning data and analytics firm. Dun & Bradstreet's small business customers can now apply to open a Lili business checking account directly from the Dun & Bradstreet myD&B platform. After opening their account, they will be able to sync their financial data with D&B Credit Insights, allowing them to potentially impact key business scores. … Top 50 firm Schellman & Company, LLC announced the successful acquisition of INSYTE CPAs, LLC practice, which specializes in the areas of risk management, internal control, and business processes. As part of the transaction, INSYTE's clients and personnel will transition to Schellman. … Advent International, a private equity investor, announced it has entered into a definitive agreement to invest and acquire a majority ownership stake in global ERP software provider SYSPRO. As part of the transaction, Mike Ettling, who was previously the President of SAP SuccessFactors and is presently the CEO of Unit4, will join SYSPRO as Chairman of the Board. Following the transaction, Phil Duff will retire from the company at the end of September 2024. Duff has been leading SYSPRO since he started the business 46 years ago. The transaction is expected to close late Q3 pending customary regulatory approvals and closing conditions. Torch Partners acted as exclusive financial adviser to SYSPRO in the context of this transaction.

Other news

Financial intelligence software provider Valid8 Financial has ranked No. 583 on the 2024 Inc. 5000, an annual list of the fastest-growing private companies in America. Companies on the 2024 Inc. 5000 are ranked according to percentage revenue growth from 2020 to 2023. A spokesperson said that Valid8 Financial has achieved nearly 900% revenue growth in this time. … Quadient, a global business automation platform, announced it has been named a Major Player for the first time in two IDC MarketScape reports: IDC MarketScape: Worldwide Accounts Payable Automation Software for Midmarket 2024 Vendor Assessment (doc # US52378624, July 2024) and IDC MarketScape: Worldwide Accounts Payable Automation Software for Small Businesses 2024 Vendor Assessment (doc # US52378824, July 2024). …  Paystand, the blockchain-enabled B2B payments company, has made the list Inc. 5000 for the fifth consecutive year with a 380% growth rate over the past three years. Paystand attributed this partially to the acquisition of TeamPay, a spend management software provider. Paystand also celebrated the launch of Paystand.org, a nonprofit initiative that addresses the financial inclusion gaps in today's economic landscape and is partnering with NGOs in underrepresented areas. 
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