Cloud accounting solution, Xero, hopes to transform the way people do business by digging deeper into Ai and machine learning.
The company made the announcement of a suite of new product features at their annual Xerocon conference in Brisbane. Amongst the developments is new machine learning which will bring tangible practical results to the management of an SMB owner’s accounts.
Xero suggests the new capabilities will automate repetitive tasks, reduce time in collecting data and increase the reliability and accuracy of a business’s accounting data.
Amongst the most anticipated product tweaks is Xero’s popular ‘email to bills’ feature has been expanded to automatically extract and populate details from any email PDF bill into Xero, saving businesses hours each month on data entry.
“More than a decade ago, we began building a cloud accounting platform that would revolutionise how small businesses, accountants and bookkeepers run their operations. The new products and features announced at Xerocon Brisbane show the next stage of our growth: moving from an accounting software provider into a true small business platform that helps business owners save time, gain control, and focus on growing,” said Steve Vamos, Xero CEO.
“These tools will also help our champion accountants and bookkeepers grow their practices, making it easier and more efficient to serve their clients, and helping them add value in entirely new ways.”
Xero also took the opportunity to announce the acquisition of Hubdoc, which makes financial document collection and data entry more efficient by extracting key financial data from documents and seamlessly syncing it with Xero.
Vamos believes having reliable real-time financial information at their fingertips will allow SMBs to make crucial decisions with the best insights available.
The writer was a guest of Xero at Xerocon 2018