Sage signs Strategic Collaboration Agreement with AWS to enable AI-powered solutions for Small and Mid-Sized Businesses
28 2월 2024 - 6:30AM
UK Regulatory
TORONTO, Feb. 27, 2024 (GLOBE NEWSWIRE) -- Sage, a leader in
accounting, financial, HR and payroll technology for small and
mid-sized businesses (SMBs), today announces it has signed a
strategic collaboration agreement (SCA) with Amazon Web Services
(AWS). This agreement will significantly enhance how SMBs optimize
their operations with generative artificial intelligence (AI) and
tackle environmental responsibilities, with Sage Earth now
available in AWS Marketplace.
Today, SMBs can leverage Sage Intacct in AWS Marketplace. With
this collaboration, Sage expands its relationship with AWS,
enabling SMBs to successfully navigate the complexities of modern
finance and address environmental responsibilities with
cutting-edge solutions.
AI-Driven Accounting and Compliance
Sage will develop a domain-specific LLM for accounting and
compliance using Amazon Bedrock and Amazon Lex. This specialized
accounting and compliance-focused LLM will initially inform Sage’s
new AI-powered assistant, Sage Copilot, and serve as a robust
foundation designed to enable SMBs to navigate local accounting and
compliance applications. Powered by AWS, the LLM will have the
capability to process and analyze vast amounts of data swiftly and
efficiently.
“This collaboration signifies a shared vision between Sage and
AWS to transform accounting solutions for small and mid-sized
businesses, focusing on simplifying carbon reporting and accounting
for our customers and the wider business community. We are
committed to harnessing the power of technology to drive
innovation, enhance operational efficiency, and pave the way for
sustainable growth among SMBs,” said Walid Abu-Hadba, Chief Product
Officer, Sage.
Elevating Sustainability for SMBs
Sage Earth will also now be available in AWS Marketplace through
the SCA. Powered by machine learning (ML) and AI, it uses AWS
services including Amazon Quantum Ledger Database (Amazon QLDB),
Amazon DynamoDB, and Amazon Elastic Compute Cloud (Amazon EC2). The
solution leverages accounting and other data sources to calculate
businesses’ carbon footprints and suggests emission reduction
strategies for small businesses and large enterprises’ value
chains. It is currently integrated with several financial
accounting platforms including Sage 50 and Sage Business Cloud
Accounting as well as other solution providers.
Sage Earth will be available in AWS Marketplace in the UK and
Ireland in the following weeks, with plans to extend to North
America and across Europe over the next 18 months.
“Sage Earth has played a crucial role in integrating
sustainability into our core business practices. It fosters a
culture where sustainability is part of normal business operations,
promoting transparency and accountability. The collaborative
efforts of Sage and AWS in developing Sage Earth demonstrate how
SMBs can effectively balance streamlining operations with their
environmental responsibilities,” says Liana Fricker, Founder,
Inspiration Space, and Sage Earth customer.
Aligned with Sage's Sustainability and Society strategy, the
collaboration between Sage Earth and AWS focuses on developing a
comprehensive carbon emissions database. This innovative project
encompasses an array of products, services, and regions, and is
informed by AI and ML, using ESG hybridization* to help SMBs
navigate decisions with incomplete or inconsistent data.
"Deepening our relationship with Sage enables us to take a
significant step together toward empowering SMBs with the tools
they need to thrive in today's digital landscape. The development
of domain specific LLMs and integration of Sage Earth on AWS are
prime examples of how we're enabling businesses to modernize and
make informed decisions around accounting, finances, and their
environmental impact,” said G2 Krishnamoorthy, Vice President of
Analytics at AWS.
Media contact:
Monique Daniel
Sage
monique.daniel@sage.com
(905) 781-0758
About Sage
Sage exists to knock down barriers so everyone can thrive,
starting with the millions of small and medium-sized businesses
served by us, our partners and accountants. Customers trust our
finance, HR and payroll software to make work and money flow. By
digitising business processes and relationships with customers,
suppliers, employees, banks and governments, our digital network
connects SMBs, removing friction and delivering insights. Knocking
down barriers also means we use our time, technology and experience
to tackle digital inequality, economic inequality and the climate
crisis.
Notes to editors
*ESG Hybridization: combining different approaches and data
sources to evaluate a company's environmental, social, and
governance impacts more accurately, especially when direct
information is scarce or incomplete.
AWS has demonstrated a strong commitment to serving SMBs through
services, support and innovation that drive economic growth.
Accessing Sage Earth via AWS Marketplace ensures customers
experience seamless integration with existing AWS services and
simplifies billing and administration by consolidating costs. It
also adheres to AWS's high standards of security and compliance.
This availability facilitates quick access and easy deployment,
supported by AWS's scalable infrastructure to meet varying business
demands.
Sage (LSE:SGE)
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