Xero unveils new cloud technologies in AI and machine learning

SINGAPORE, Nov. 21, 2019 /PRNewswire/ — Xero, the global small business platform, announced at its Roadshow a host of new tools and fintech partnerships designed to help small businesses, accountants and bookkeepers better manage their cash flow, data and carry out analysis to deliver deeper insights into business performance.

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New AI-powered forecasting tool to make cash flow more transparent to SMEs and their accountants

Xero has created a short-term 30-day cash flow forecasting tool to give small business owners and their accountants a better view on their financial health to help them make informed business decisions.

Leveraging machine learning to power data automation

Following Xero’s acquisition of Hubdoc, it has further accelerated its machine learning capabilities. Today, Hubdoc is able to extract 70 percent of all financial documents such as receipts, invoices and bills using machine learning. It is also processing double the documents a day than this time last year. This significantly reduces the data capture time for customers, with documents being processed quicker.

Bank and fintech partnerships to improve financial visibility and shorten payment cycles

In Singapore, Xero has partnered OCBC to roll out bank feeds for their joint customers.

The global partnership that Xero has with Stripe is enabling businesses to develop new innovations that help small businesses get paid faster, in more ways, and gain more visibility over their business performance.

Simpler and more seamless e-invoicing experience

With Singapore officially joining the PEPPOL network in January 2019, Xero will work closely with the Infocomm Media Development Authority (IMDA) to be PEPPOL-ready and drive greater cloud accounting adoption.

Media Contact

Xero Asia
Semantha Tan
+65-8200-4296
AsiaPress@xero.com

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