Top Takeaways from Xerocon London 2017
Xerocon 2017 recap
Last week the cloud team at MHA Carpenter Box team enjoyed a day out of the office at Xerocon, held at the ExCel in East London. With over 2,000 attendees and 60 exhibitors, Xero’s annual conference is getting bigger and better every year. And while it was bittersweet to pass on our mantel as Xero’s UK Accounting Partner, our team had a great chance to hear about all the new tools and innovations Xero users can expect in the next year.
It was also a fantastic opportunity to hear from key players in the industry (including our own Nathan Keeley), and learn about the latest apps and products. The Xero community was also there in full force, and our team met many add-on partners in the growing Xero ecosystem at the Expo Hall. With more than 600 apps that integrate with Xero, there really is an add-on for every aspect of your business.
We’ve compiled a list of the Xero updates we’re most excited about:
1. Xero Expenses
Perhaps the most exciting of Xero’s updates will be the revamp of their expense claims function. This includes a standalone app, for iOS and Android, where employees can submit their expenses. It has inbuilt character recognition software designed to save data entry, a seamless expense approval system and summaries for both managers and users to oversee the whole process.
2. Xero Projects
This is a big win for service industries who needed a built-in project management system to keep an eye on profitability and their work in progress. This will also be a standalone app, to help manage your projects on the go, with the ability to track time and bills on any project.
3. Xero Discuss
Xero have added an in-app conversation function to help facilitate seamless communication between yourself and your adviser. You can flag queries or review your numbers, all linking to specific items within Xero.
4. CIS and payroll updates
Xero discussed their plans to implement Construction Industry Scheme (CIS) functionality into their software, to calculate relevant tax deductions. They have released the beta version, and plan to roll out fully next year.
5. User roles
User roles now have increased granularity within Xero. For example, employees can have sole access to the Projects and Expenses modules, without a view on the whole business finances.
6. Invoice updates
You will now be able to enter separate shipping addresses, so customers no longer have to link their billing and shipping address. You will also be able to pass on a percentage fee for payments processed through a payment service such as Paypal.
7. Xero + Paypal
You may have already noticed, but Xero and Paypal have enhanced their integration with ‘one touch checkout’. This has resulted in a seamless reconciliation and helps you get your invoice paid faster.
It’s clear the Xero developers have been extremely busy! We can’t wait to see the new functionality in action, making business owners’ (and their accountants!) lives much easier.
If you have any questions around cloud accounting and how we can help your business, please get in touch with our Cloud Accountin team on 01903 234094.