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Xero announces latest innovations for small business
Posted on 30-Apr-2015 11:44. | Tags Filed under: News.

Following over 500 software releases in the last year Xero previewed to an audience of over 1000 accountants and bookkeepers and software developers a raft of new innovative features to make life easier for small businesses.

Highlights of day one at Xerocon included the preview of a new Business Performance dashboard; integration with Microsoft Office 3 and, a new project with Paymark to eliminate paper receipts. Keynote addresses were delivered by Xero CEO Rod Drury, Hon Bill English and Gerhard Vorster – Chief Strategy Officer, Deloitte Australia.

Information and advice is critical to effective decision-making, and today Xero previewed the Business Performance dashboard, providing a visual snapshot of a business’s health using a simple, integrated and beautiful interface. The feature allows time-poor businesses to access key metrics that help them understand the state of their business, while making it easy to collaborate with their advisor on how to improve performance.

Once live, the Business Performance dashboard will be fully integrated with all parts of Xero, bringing together a range of key information, including gross profit, debt and debt to equity ratios, to deliver the metrics that matter. Business owners can easily see what’s working and address this themselves or seek help from their accounting advisor.

Xero Chief Product Officer Angus Norton says, “Business owners know that time is money, so being able to see key metrics at a glance that show how the business is performing enables smart and informed decisions.”

“This allows businesses to spot issues or concerns early and take action. It also reduces complexity, effort and cost, and takes the hassle out of day-to-day accounting so that your accountant or business advisor can work more effectively with you to providing insight and advice that will enhance overall performance.”

“Xero's focus on automation by design, and our relentless focus on assisting small businesses in unlocking continuous value from their Xero investment, and the data they entrust, means Xero never stops working for small business and we will continue to set the pace for accounting innovation,” Norton adds.

For advisors, the addition of features such as the Business Performance dashboard allows them to add value to their customers in new ways. In the past such calculations had to be performed manually, taking time, whereas now the information is only a click away and the hard work is performed by Xero.

The new Business Performance dashboard will be available in the coming weeks and Xero will continue to innovate in this space to provide even more insights for small businesses.

In a global strategic update, Xero CEO Rod Drury outlined how the Xero platform now provides the most comprehensive small business accounting experience for customers.

“In the last year, we have successfully delivered payroll and inventory across all major markets, and we will continue to add value to small businesses, accountants and bookkeepers through continued innovation. We are now delighting more than 475,000 customers all over the globe with our innovative and fresh approach to small business accounting - but the opportunity beyond this is massive,” Drury said.

New Zealand has the greatest proportion of small business owners using the cloud and Drury outlined how Xero is successfully using New Zealand as a test lab for developing next generation business services.

“Our goal is for New Zealand to be the global poster child for electronic business and Business-to-Government connectivity,” Drury said.

This update was followed by a keynote titled The Emerging Financial Web, where Drury declared Xero’s intentions to work the major banks to unlock financial services for small business. Drury concluded: “Cloud accounting drives efficiency, collaboration and knowledge. The Emerging Financial Web will stimulate small business like we have never seen before.”

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