XeroCon 2016 – Accounting beyond the CloudSeptember 15 2016
The CEO and founder of Xero, Rod Drury, said at the last conference that it was the ‘end of the beginning’ and that the product was strategically poised for the future. For those Xero subscribers out there, you will have noticed that Xero has been migrating over some months now to the Amazon Web Services platform, and this has opened up so many more features and value services for Small Business Owners.
Xero is now able to access a range of artificial intelligence and machine learning tools, which will drive greater automation for customers.
Machine learning requires large amounts of data to identify patterns and validate algorithms. We can expect to see mass automation, such as Xero doing the coding itself and the Chart of accounts won’t be necessary for the User to see. Wow Wow!
Users will also be able to ‘chat’ live to their Xero file data, just like we currently do with Siri, and get responses through FB Messenger – called a Chatbot Server. See the following images for typical questions, and information and data flowing in immediately.
What’s New: More than the usual Xero features
Every time Xero presents there are new features that enhance the users experience.
This time it includes:
- Standard date pickers in reports
- New reports with customisable report columns and report codes
- Auto balancing journals
- Fixed asset pools and tax reporting – Woot ! so simple
- Copying of key data such as the Chart of Accounts and Bank rules to a new file
- Auto populating Contact data with real time links from Veda, giving you credit ratings and GST registrations info
- Prompt payment discounts on customer invoices – yay!
- Streamlined management of Paypal fees
Robotics on the way in Banking
Please meet Chip from the Commonwealth Bank. He has stereo and Camera eyes, a touch screen, 8 hours of Battery life (a working day) LED ears, 2 microphones and 2 speakers, 16 ultrasound sensors for navigating around obstacles and is 170cm tall and weighs 100kg. He will soon be able to detect your emotions as well.
Ready to simplify your accounting?
For a free 30 minute consultation to move your accounting system to Xero based cloud solutions, contact Genevieve on M 0421 343 918.