Xero wowed the audience with its impending AI offering, but some simple but effective new tools and upgrades also caught the eye – as the accounting software giant looks to support accountancy practices of the future.
From big to small, high-end to the basics – there was something for everyone at Xerocon London 2024.
The Advancetrack team were delighted to have supported this huge event – and there’s more to come from us both at Xerocon Nashville in August (but more about that another time).
Core evolution
Instead, let’s talk about what was on show at London’s Excel. Upgrading and integration were at the forefront of the developments of Xero’s core products. Its practice management and tax production offerings are to be integrated, while a partnership tax solution is set for beta testing. A number of upgrades to its payroll offering are also on the way.
Payments are also a core part of Xero’s innovation focus; and Tap to Pay was demoed very effectively – a partnership with Stripe will enable businesses to create invoices on the go and have them paid. What seems simple and small can also be very effective – as this offering should prove.
As ever, for us at Advancetrack we’re keen to support practices in developing their operational offering. We shall keep an eye out for these upgrades with keen interest.
AI and security
We also had Just Ask Xero on display – or JAX for short. This is Xero’s generative AI offering. It’s difficult to explain how clever this natural language prompt was – it’s something you’ll have to see for yourself.
What we can say is that we were impressed by Xero’s commitment to data security – with the large language model able to direct accountants to the relevant information without ‘stripping’ it from the system or housing it elsewhere. Again, we’d recommend you speak to Xero to find out more about this fascinating new tool (which is in beta from August).
‘Rebranding’ the profession
Xero’s UK and EMEA MD Alex von Schirmeister talked about some of the ongoing trends, opportunities and threats currently impacting the accounting profession. He touched on an ‘advisory-led’ practice community, and it’s an area we’re always interested in broaching here at Advancetrack.
Our new Accounting Talent Index flagged up the falling numbers of people entering the profession, and that practice leaders must think very carefully – and act – to structure their resources to cope with the increasing needs of clients; the ongoing growth in complexity of both client and internal compliance; alongside developments in the technology space. The opportunities, and threats, have never been greater for accountancy practices.
Last but not least…
Finally, we were delighted to be able to chat with Xero CEO Sukhinder Singh Cassidy at the after-party. As you can see in the picture above, we have Advancetrack MD Vipul Sheth, Sukhinder, and then… is that Marc Bolan? No – it is our CTO Ian Gregory, channelling his inner glam for the themed shindig!
