We simply kicked off day one among Xerocon — the vibe and the environment in Sydney is incredible!
Our management crew — together with new Chief Product Officer, Diya Jolly — shared the most recent enhancements to our platform that may assist accountants and bookkeepers develop their apply, assist their purchasers succeed, and get essentially the most out of Xero. These embody a number of AI-powered product options and experiments that may enable you to work smarter and extra effectively.
We additionally demonstrated how we’re tackling frequent ache factors like managing money move and payroll, to present you useful time again to give attention to different enterprise priorities. Should you weren’t in a position to attend Xerocon Sydney, right here’s a recap of the enhancements we introduced at the moment.
Saving time for small companies with predictive AI
We’re supercharging Xero with a number of new AI-powered options. Quick-term money move in Xero Analytics Plus now contains predictions for recurring bill and invoice funds, giving small companies a clearer image of their potential future money move. Companies can select to incorporate future bill and invoice funds, collectively or individually, inside their money move forecast.
Within the coming months, we’ll even be enhancing the best way we use AI in financial institution reconciliation, to populate new contacts that aren’t already in your purchasers’ contact lists. It will cut back guide knowledge entry and implies that for purchasers new to Xero, financial institution reconciliation is made simpler on day one.
Experimenting with generative AI to enhance buyer assist
AI already powers a spread of merchandise throughout Xero. Past Analytics Plus and financial institution reconciliation, it’s additionally embedded in Hubdoc (with doc seize and knowledge entry), Xero Bills and Xero Go. Collectively, our merchandise are already saving prospects an enormous period of time annually.
We’ve been following the latest explosion of curiosity and improvement in generative AI, which has revolutionised the power of AI techniques to create content material. At Xerocon, we introduced that we’re conducting two experiments in Xero utilizing generative AI.
Xero Central is already powered by an AI instrument that serves up essentially the most related content material to your search question. However we’re about to pilot a big language mannequin — much like the one ChatGPT makes use of — to floor the perfect reply from throughout all of our content material in Xero Central. It will assist us provide the solutions you want to your purchasers quicker.
We’re additionally experimenting with an AI assistant to assist small companies arrange their Xero organisation in the course of the onboarding course of. This AI assistant will draw on Xero Central articles, offering related solutions and knowledge to key questions, and guiding them on the best way to full duties.
We’re excited to see how these experiments with generative AI can proceed to assist us enhance the lives of our small enterprise prospects and their advisors.
Planday’s award interpretation instrument now out there to hospitality sector
Planday’s award interpretation instrument can already be utilized by companies paying employees inside the retail and clerks awards, enhancing their confidence in terms of managing payroll and rostering necessities.
We introduced at the moment that Planday has expanded its award interpretation instrument, serving to Australian small companies who’re paying employees underneath the three hospitality trendy awards — hospitality, restaurant and quick meals.
When Planday is related to Xero Payroll, it offers companies a real-time view of most labour prices in comparison with projected income, with every day forecasts and analytics. It additionally makes it simpler for small companies to handle employees shifts and talk with groups.
A extra seamless apply workflow for advisors
At Xerocon, we defined how we’re working to combine all of our apply instruments into one related expertise inside Xero. Our imaginative and prescient is that sooner or later, Xero Observe Supervisor (XPM), Xero HQ and Xero Tax will probably be seamlessly related, with no duplicates or double dealing with.
Connecting your apply instruments will give you the inspiration to be extra environment friendly — you’ll have one shopper record, one employees record and one set of consumer permissions — multi function place. It will actually streamline your workflows — and offer you confidence that your knowledge is correct and your groups are all working from the identical info, it doesn’t matter what apply instrument they’re utilizing.
The primary stage of this journey is to give you a single supply of reality to your shopper data. New practices and people who solely use Xero HQ can now entry a single shopper report throughout their apply instruments. As quickly as your apply prompts XPM or Xero Tax, you’ll have all of your shopper data in there right away.
For present practices utilizing XPM, Xero HQ and Xero Tax, we’ll begin transitioning you to a single shopper report quickly. The best way you do that will rely on the complexity of your apply data, however we’ll give you the assist of a reconciliation instrument if wanted in addition to detailed directions on the best way to make the transition.
A brand new bill funds expertise in Xero
We’re partnering with Stripe to create an embedded bill funds expertise in Xero. Stripe prospects utilizing Xero will be capable of entry this embedded expertise later this 12 months. The brand new expertise will assist small companies handle extra of their funds straight in Xero, in addition to view fee transaction particulars and concern refunds to prospects inside Xero.
Our partnership with Stripe goes again a decade, and we’re constructing on this so as to add extra versatile fee choices for patrons — each in-person and on-line. It’s additionally a possibility for us to proceed to hurry up funds — we all know that Xero prospects who settle for Stripe funds on Xero on-line invoices receives a commission as much as twice as quick than those that don’t.
Day one is pumping, and there’s nonetheless extra to see
It’s been an enormous day up to now at Xerocon Sydney 2023, and we’re actually enthusiastic about the best way we’re persevering with to boost our merchandise — specializing in the areas we all know are most vital to you.
It’s nice to see so many accountants and bookkeepers from throughout the APAC area, and take heed to your suggestions on our merchandise. However there’s loads extra in retailer for at the moment and day two — take pleasure in the remainder of Xerocon!
