Xerocon London 2024
Xero Unleashes Innovative Product Features at Xerocon London
Xerocon London 2024 buzzed with excitement as Xero unveiled a suite of innovative features designed to revolutionize accounting for small businesses and their advisors. These updates, focused on tax, payments, and payroll, promise to streamline workflows, boost efficiency, and enhance compliance management within the Xero platform.
Alan, who attended the event on June 12th and 13th, was particularly impressed by two features:
Just Ask Xero (JAX) and Tap to Pay.
A major highlight was Just Ask Xero (JAX), an AI-powered smart business companion launching in beta this August. JAX empowers businesses to tackle tasks like generating invoices and editing quotes directly through their mobile devices, WhatsApp, or email. This multi-platform accessibility ensures greater efficiency and accuracy, with JAX leveraging a control system to provide relevant data to large language models for enhanced precision. Xero's commitment to AI extends beyond JAX, with the introduction of AI-powered help content, improved customer support options, and tailored AI guides to empower businesses to confidently leverage this powerful technology.
Another game-changer is the upcoming Partnership Tax Solution (beta launch in July). This feature simplifies the preparation and filing of partnership tax returns directly within Xero, eliminating the need for data transfer. For advisors, Xero Practice Manager (XPM) will soon offer an Integrated Practice Management and Tax Solution (currently in beta). This seamless connection between tax compliance and practice management promises to streamline workflows and improve job tracking for accounting firms.
Understanding client health is crucial for effective advisory services. The new Client Insights Dashboard provides advisors with a clear snapshot of key client metrics and financial wellbeing. With this information readily available, advisors can offer more targeted and impactful guidance.
Small businesses will rejoice at the introduction of Tap to Pay, making Xero the first major accounting platform to offer this functionality. This innovative feature allows businesses to accept contactless payments directly through their smartphones using the Xero Accounting app. Partnering with Stripe, Tap to Pay supports a variety of payment methods, including credit cards, debit cards, and digital wallets. Initially available in beta for UK Android users in August, it will expand to other platforms in the coming months. Tap to Pay empowers businesses to get paid faster and more conveniently, tackling the persistent issue of late payments.
The enhanced Xero Payroll further streamlines the process with a new payroll manager dashboard (currently in beta). This centralized hub consolidates payroll data across clients, simplifying payroll runs and accommodating flexible working arrangements.
Xero's Chief Product and Technology Officer, Diya Jolly, emphasized that these updates stem directly from customer feedback. The focus throughout Xerocon London was on empowering both businesses and advisors with improved tools. These innovations pave the way for a future where accounting is efficient, accurate, and seamlessly integrated, ultimately helping businesses thrive. The palpable energy at the event solidified Xero's position as a leader in shaping a more streamlined and innovative landscape for small business accounting.
If you would like any further information how Xero can help your business please get in touch.