Sage, an accounting technology firm serving small to medium-sized businesses (SMBs), is partnering with Amazon Web Services (AWS).
This agreement will improve the way SMBs optimize their operations with generative artificial intelligence (AI) and tackle environmental responsibilities, Sage said in a Wednesday (Feb. 28) news release.
Using Amazon Bedrock and Amazon Lex, Sage said it would develop a domain-specific large language model (LLM) for accounting and compliance purposes.
This model will initially inform Sage’s new AI-powered assistant, Sage Copilot, and act as a foundation in helping SMBs navigate local accounting and compliance use cases, according to the release. Powered by AWS, the LLM will be able to analyze vast amounts of data swiftly and efficiently, Sage said.
The release also noted that Sage Earth, a carbon accounting software, will be available in AWS Marketplace in the U.K. and Ireland in the following weeks. The software uses accounting and other sources of data to calculate businesses’ carbon footprints. It also suggests emission reduction strategies for small businesses and large enterprises’ value chains, according to the release.
Sage said it plans to extend the Sage Earth’s reach into North America and across Europe over the next 18 months.
Powered by machine learning (ML) and AI, Sage Earth uses AWS services including Amazon Quantum Ledger Database (Amazon QLDB), Amazon DynamoDB and Amazon Elastic Compute Cloud (Amazon EC2), according to the release. It is currently woven into several of the company’s financial accounting platforms, including Sage 50 and Sage Business Cloud Accounting, as well as other solution providers.
The partnership between Sage Earth and AWS focuses on developing a comprehensive carbon emissions database, according to the release. This project encompasses an range of products, services and regions, and is informed by AI and ML.
“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,” Walid Abu-Hadba, chief product officer at Sage, said in the release. “We are committed to harnessing the power of technology to drive innovation, enhance operational efficiency, and pave the way for sustainable growth among SMBs.”
Sage’s partnership with AWS comes months after the accounting tech firm partnered with FinTech Swoop.
As PYMNTS reported in October, the partnership aimed to provide SMBs with easy access to a wide range of funding opportunities.
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