Cloud updates aplenty as Xero ramps up SMB inventory

Xero has a made a serious move to increase the productivity and success of small business owners and their advisors with its latest multi-feature launch, which adds Inventory, Online Quotes, Side-by-Side Files and Practice Reports to its accounting software.

According to the rising Kiwi company, millions of small businesses are taxed by using expensive and complex accounting software, offline spreadsheets, and by having to stitch together applications to meet their needs.

According to research undertaken by Xero, on average small businesses using Xero are getting paid 30 days faster now than they were in 2011.

Globally, businesses using Xero are getting paid 24 days after invoicing their customers, down from 54 days in 2011, resulting in significant cash flow improvement and productivity.

“With Xero delivering inventory, most businesses in the world now can be more productive with cloud software,” says Rod Drury, CEO, Xero.

“We’ve not only matched most of the features of traditional desktop software, but taken it beyond in terms of ease-of-use, mobility, value and performance.

“This is about ensuring more small businesses have the opportunity to succeed through a constant wave of innovations.”

According to Drury, Xero offers all the core business functions that small businesses need to run and grow their business: Quotes, Purchase Orders, Inventory, Invoicing, Reconciliation, Bills and Expenses, Payroll, Tax and Compliance.

Xero has already made more than 150 such enhancements in 2015, building on over 400 in 2014 while under the old desktop generation small businesses might get a new CD to install every couple of years.

“We were 'born in the Cloud' which continues to enable an unmatched pace of innovation to the ongoing benefit of our customers,” adds Angus Norton, Chief Product Officer, Xero.

“Our fast SaaS model has delivered over 150 new features and improvements so far this year.

“Our latest innovations allow customers to manage cash flow through effective stock management, easily convert new business prospects through online quotes and manage their receipts, expenses and payments.”

According to Andy Lark, Chief Marketing Officer, Xero, the company is seeing competitors tax small businesses with price increases, security breaches and service issues.

“Once again we’ve delivered a package of innovations at no extra cost, to help entrepreneurs better manage their business,” he adds.