Let’s Talk … Xerocon 2023
Developed from Wellington in 2006, accounting software, Xero, has grown considerably in users, features and app partners. As proud representatives of MCI & Associates, we gained valuable insight into the benefits of Xero at this year’s Xerocon event held in Sydney.
Xerocon is one of the world’s most innovative conferences for cloud accounting leaders; the event brought together Xero’s partner community from across the globe for two inspiring days of learning, networking, and entertainment. Xero’s CEO, Sukhinder Singh Cassidy, shared insights regarding purpose and partnerships and emphasised the critical role of the advisory community in the future of small business success.
Key user benefits were highlighted as follows:
Getting Paid Faster: Xero offers strategies and tools to help businesses improve their cash flow by streamlining their invoicing and payment processes. They offer a ‘Pay now’ button that enables customers to pay straight from the invoice, reducing the steps to pay, the likelihood of mistakes, and time spent chasing payments. They also have the ability to send professional, friendly reminders to customers for upcoming or overdue invoices.
Workflow Optimisation: Xero provides avenues to leverage integrated apps and automation to optimise workflow, reduce manual tasks, and increase efficiency. Feel like you’re chasing your tail with admin tasks? Xero have you covered with Hubdoc, which automates the process of capturing and storing bills and receipts. You’re able to create batch payments to effortlessly bundle multiple bills into one payment file, and enter planned dates for group bills waiting to be paid, for easy payment and visibility.
Master Reporting and Insights: Xero provides data health checks, new report packs and assistance with keeping Xero records tidy. With Xero Analytics Plus you’re able to focus on the key areas of business performance and financial wellbeing – tracking performance trends and predictions, as well as managing future cash flows. A management report pack is also available that offers an overview of business performance, without the need for multiple reports.
Emerging Artificial Intelligence: Xero are aware of the impact, opportunities and challenges this technology is posing for accountants, businesses and the wider world. They’ve streamlined time-consuming manual processes and are delivering insights at the right time while keeping data safe and secure.
During the conference, we trialled a number of Xero app partners that enabled us to establish which may be beneficial to MCI and our clients. Guest speaker, former Nike Vice President and acclaimed business leader, Lisa MacCallum, shared her insights on building successful teams, fostering innovation, and driving positive change within organisations. Sam Elsom, CEO of Sea Forest, delivered an in-depth analysis into how small businesses can drive sustainability. Drawing on his expertise in ethical design and manufacturing, he highlighted practical steps businesses can take to reduce their environmental impact while remaining profitable.
We found Xerocon a resounding success. It provided MCI with opportunities to learn from world-class speakers, hear thought-provoking updates from Xero’s leadership team, take home practical learnings from the Xero showcases and the chance to network with other cloud accounting leaders from across the globe.
If you’re looking for an accounting software solution, please don’t hesitate to contact MCI; we can help you through the entire process, from exploring options, through to implementation, training and support.
Phone: 06 374 7059 | Email: This email address is being protected from spambots. You need JavaScript enabled to view it. | Web: mcia.co.nz/contact
