Xero Makes Small Business Life Easier with AI-Powered Tools

I wanted to tell you about the exciting stuff that Xero unveiled at their awesome Xerocon event in Sydney. They showed off a whole bunch of cool new features designed especially for small businesses like yours. These features are all about making your life easier and helping you make smarter decisions.

AI Takes the Spotlight and Boosts Business Efficiency

Guess what? Xero is using the power of AI to make your banking stuff super easy. With their future updates, machine learning will be able to spot new contacts that aren’t in your existing Xero contact list. This means that entering data will be a breeze. Diya Jolly, Chief Product Officer at Xero, says that they’re all about helping you save time on those boring manual tasks.

So, here’s some cool news for you. Xero Analytics Plus is making a big change to their cash flow forecast. They’re adding in predictions for regular invoice and bill payments. That means small businesses like yours can see into the future of their finances and make smarter plans and decisions.

Improving Customer Support with AI Innovations

But wait, there’s more! Xero is also getting fancy with artificial intelligence to level up their customer support. They’re doing some experiments over at Xero Central, their support hub, to help you find information faster. They’re even testing out a new AI assistant to make it easier for small businesses to get started with Xero. And get this, they’re teaming up with Amazon Bedrock, a leader in cloud technology, to make these experiments even better. Xero is really pushing the boundaries when it comes to using AI for customer support.

How Planday is Helping the Hospitality Sector in Australia

The hospitality sector is a major provider of jobs in Australia, employing nearly 950,000 workers. However, this industry often faces challenges with complex award rates and penalties. Thankfully, there’s a solution: Planday, a tool that has been acquired by Xero. Planday is specifically designed to assist the hospitality sector, making payroll and rostering easier for employers. With this tool, employers can ensure they are following all the necessary regulations while also effectively managing labor costs.

Managing Payments Made Easy with Stripe Collaboration

Xero and Stripe are teaming up to make payments easier for businesses. This partnership will allow you to manage your payments directly within the Xero platform. Coming later this year, the integrated system will let Stripe users on Xero view payment details and issue refunds. The goal is to speed up payment processing and improve cash flow.

Redefining the Advisor Experience

Xero is changing how accountants and advisors work with its platform. With a new single client record, advisors can seamlessly switch between Xero Practice Manager, Xero HQ, and Xero Tax. This unified system eliminates redundancies and makes the advisor experience smoother and more efficient.

Small businesses are essential for economies worldwide. While they juggle operations, finances, and customer relationships, platforms like Xero simplify processes and boost efficiency. With these new developments, Xero is committed to creating a seamless and intelligent business environment for its users.