Sage and AWS to launch first domain-specific accounting Large Language Model (LLM)
AI-powered carbon reporting solution Sage Earth to be available in AWS Marketplace
13 March 2024 – Sage, a leader in accounting, financial, HR and payroll technology for small and mid-sized businesses (SMBs), announced it has signed a strategic collaboration agreement (SCA) with Amazon Web Services (AWS). This agreement will significantly enhance how SMBs optimise 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 specialised 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 analyse 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 of 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 (Machine Learning), using ESG hybridisation* 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 modernise and make informed decisions around accounting, finances, and their environmental impact,” said G2 Krishnamoorthy, Vice President of Analytics at AWS.