Partner Update: Sage 50 launches v29.2
At the end of last month, our trusted partners at Sage launched v29.2 of their Sage 50 platform. As a part of that release, they upgraded and added a number of services available to their users, including introducing Satago’s Full Book (also known as Whole book) Invoice finance to their UK customers and an embedded Credit Control and Risk Insights service available within the Sage platform.
We’re delighted to be able to provide further support to Sage 50 customers. In this article, we’re diving into some of the new updates to the platform, including how they work, and how they will help Sage’s thousands of business customers thrive, and improve their cashflow.
Introducing Full book invoice financing from Satago (UK only)
This update includes:
- Inclusion of Full book invoice financing – allowing users to receive finance for all eligible invoices
- Reduced manual processing through the automatic publishing of transactions to your accounts.
Sage 50 customers previously only had access to Satago Selective Invoice Finance, allowing you to request finance against individual invoices. For businesses with revenue tied up in specific, unpaid invoices, Selective Invoice Finance conveniently frees up cash locked up in those invoices.
Sage 50 v29.2 takes the embedded financing facility to the next level. Satago’s Full book Invoice Financing is a great option for quickly and conveniently balancing out cashflow, while also offering a confidential means to borrowing against all outstanding debt, whilst at the same time providing scalable access to finance against issued invoices that grows as the turnover of the business grows.
You can see the difference between the two facilities on the table created our Sage partners, below:
| Selective Invoice Finance Available in Version 29 and above | Full Invoice Finance Available in Version 29.2 and above. |
|---|---|
| No fixed contract | 12-month contract with monthly membership fee |
| Choose individual invoices to fund | Fund all eligible invoices |
| Disclosed – Satago contact each customer directly for verification | Confidential – Satago doesn’t contact every customer, only verifies a sample |
| Priced individually per invoice | Clear and simple pricing agreed in advance |
| Invoices must be within agreed payment terms | Fund an invoice up to 120 days past invoice due date |
If a Sage 50 user’s financing needs to change, the facility is completely flexible, too. A Sage 50 customer can move between the two types of finance as business requirements change, with ease, thanks to Satago’s digitised service. This is a first in the UK market amongst Invoice Finance providers.
Along with existing Satago solutions, eligible companies can now apply for full book invoice financing within their Sage 50 accounts. Click here to find out more.
Credit Control and Risk Insights (CCRI) – Finance Package only
Sage 50 customers with the Finance Package can now enable Credit Control and Risk Insights, embedded within Sage 50 Accounts, powered by Satago. CCRI is available to users in the UK and Ireland and there is no eligibility check.
Credit Control
The new, Automated Credit Control solution integrates with all major email providers in minutes and matches your customers just as fast. It will allow Sage 50 users to build custom templates and send personalised, automated payment reminders direct from their own email address.
Allowing customers to stay on top of their invoice queries, they can track all communications within their Sage dashboard, too. This solution means Sage 50 users can build and maintain good relationships and even better payment habits with everyone they do business with.
Risk Insights
This new feature allows Sage 50’s users to access detailed, real-time readings on debtors, existing customers and prospects, while monitoring their current and potential credit risk with ease. It means making smarter business decisions with confidence and shifting focus to mitigating risk. From a customers’ risk band, average payment time to suggested credit limits, Sage 50 users will now have the full picture before deciding to work with another business.
If you are interested in Credit Control and Risk Insights submit your details and Sage will be in touch.
Other updates on Sage v29.2
Create a Purchase order from a Sales order – (Sage 50 Professional only)
A faster way to create Purchase orders from either a single Sales order, or a selection.
With v29.2, Sage 50 Professional users can create Purchase orders from a Sales order, removing duplication of work and saving time.
The update includes:
- Quickly create one or more Purchase orders from one or more Sales orders
- Configure options such as using your customer delivery address on the Purchase order to ensure the goods are delivered directly to your customer
New Bank feeds experience
Sage 50 has a total revamp of its Bank Feeds user experience, so it’s easier and faster for users to manage accounts. The improved interface specifically makes transaction processing simpler, and much faster.
New Intrastat nature of transaction codes – Ireland only
Nature of Transaction Codes (NoTC) are used to indicate the transaction type which is being declared on Supplementary Declarations (SDs), to support legislation in Ireland. 19 new NoT codes have been added to comply with changes to legislation for ROI declarations.
The new Nature of Transaction Codes are found easily within the Sage 50 platform; click ‘Settings’, then Invoice, Order Defaults and finally Intrastat to view the codes in ‘Declarations – Dispatches and Declarations – Arrivals.’
Check out Sage’s walkthrough here.
Ready to sign up?
You can find out how to sign up with Sage 50 and the criteria required to access IF with Sage’s set up guide.
Learn more about Satago’s Solutions
Read here on Invoice Finance to learn more: How does invoice financing work? (satago.com)
We recommend Sage 50 users upgrade to the latest version to access v29.2
For users with a valid support contract and Sage 50 Account, the update will arrive automatically soon. However, you can manually download and install here as well.
