Our team had the privilege of attending Xerocon 2024 in London, it was an experience brimming with insights, innovations, and inspiring sessions. Xerocon is renowned as a leading conference for bookkeepers and accountants, and this year’s event certainly lived up to its reputation. Here’s a roundup of what we learned and the exciting new developments we’re eager to implement for our clients.
Introducing Just Ask Xero (JAX) - The New AI Tool
One of the standout announcements at Xerocon 2024 was the introduction of Just Ask Xero (JAX). JAX is an advanced AI tool designed to revolutionize the way bookkeepers and accountants interact with the Xero platform. It will be available in beta in August. Here’s what makes JAX so impressive:
Enhanced Efficiency: by automating routine tasks and providing quick answers to common questions, JAX frees up valuable time for bookkeepers to focus on more strategic activities. This efficiency boost is a game-changer for our practice and our clients.
Unique Technology: the data security ensures the only data received is from what the user has given permission to access.
Time Saving: JAX will be able to complete critical tasks such as generating invoices, quotes and editing quotes.
JAX is still in development and we hope to see even more time saving tasks available as time goes on.
Embracing E-Invoicing
Another significant highlight from Xerocon was the focus on e-invoicing. Xero is taking big steps to make e-invoicing a seamless part of their platform. Here’s why this is important:
Speed and Accuracy: e-invoicing allows for invoices to be sent and received electronically to accounting software, reducing the time it takes for invoices to be processed and paid. This leads to quicker payment cycles and improved cash flow for businesses.
Reduced Errors: automating the invoicing process minimises human errors, ensuring that the data entered is accurate and consistent. This helps prevent costly mistakes and disputes.
Environmental Benefits: e-invoicing is a greener alternative to traditional paper invoicing, reducing the need for physical resources and supporting more sustainable business practices.
More Time Saving: we won’t need to chase you for your paperwork! You won’t need to look around for invoices either on paper or in your emails.
Transforming Payments - Tap To Pay
One of the most exciting new features unveiled at Xerocon "Tap to Pay." This innovative feature allows businesses to accept payments directly through their mobile devices, eliminating the need for additional hardware or payment terminals.
By simply tapping a customer's contactless card or mobile wallet against their phone, businesses can process payments quickly and securely.
"Tap to Pay" streamlines the payment process, reduces transaction times, and enhances the customer experience, making it easier than ever for small businesses to manage sales and improve cash flow. This feature reflects Xero's commitment to providing cutting-edge solutions that drive efficiency and convenience for its users.
New Features on Xero
Xerocon also showcased several new features on the Xero platform designed to enhance usability and functionality. Here are some of the key updates:
Enhanced Reporting Tools - Xero has introduced more advanced reporting tools, allowing for greater customisation and deeper insights into financial data. These tools enable us to provide more detailed and actionable reports to our clients
Improved Bank Reconciliation: the bank reconciliation process has been streamlined with new automation features that make matching transactions faster and more accurate. This saves time and reduces the risk of discrepancies.
Mobile App Upgrades: the Xero mobile app has received updates, offering more functionality and a better user experience. This allows business owners to manage their finances on the go with greater ease and efficiency.
Bringing It All Together
Attending Xerocon was an invaluable experience for us. The insights and innovations we encountered will undoubtedly enhance our ability to serve our clients more effectively. From the powerful capabilities of JAX to the efficiency of e-invoicing and the robust new features on Xero, we’re excited to leverage these advancements to help our clients achieve their financial goals.
We are here to implement these new tools and features for our clients and guide them through the benefits and support them on the new, more efficient way of working.
Don’t hesitate to reach out to us with any questions on how these updates can benefit your business. Together, we’re ready to embrace the future of bookkeeping and accounting!
Contact us on: info@cashtrak.co.uk, call or Whats App 01865 522785 or click here to book an appointment.
