SOURCE: Xero

Xero

November 19, 2013 08:00 ET

Xero Unveils Innovative Features to Strengthen Industry-Leading Cloud Accounting Platform

New Functionality Makes Accounting Easy, Affordable and Accessible for Small Businesses

SAN FRANCISCO, CA--(Marketwired - Nov 19, 2013) - Xero, the global leader in online accounting software, has announced new features (Touch, Files, and Purchase Orders) to help make managing finances and related financial documents in the cloud easier than ever for accounting professionals and small businesses.

Xero's redesigned iOS application, Xero Touch, gives small businesses anytime, anywhere access to their finances and enables real-time connections with their accounting professionals. Xero Files enables important business documents, such as invoices, contracts and expense reports to be stored directly into Xero's platform, giving users a 360-degree view of their finances. Xero Purchase Orders helps customers manage the process of ordering and paying for goods. Lastly, Xero today previewed its upcoming Payroll service, which will provide the industry's most seamless and comprehensive solution for SMBs.

The new features come as Xero is experiencing record growth and adoption following a recent fund raise of $150 million to fuel innovation and expansion in the U.S. The company also recently introduced the industry's first QuickBooks® Conversion Service, allowing customers trapped in legacy and ineffective desktop software to seamlessly transition to Xero.

"We are setting a new standard for the industry: an intuitively designed and beautiful platform to take care of all small business accounting needs," says Jamie Sutherland, Xero's U.S. President. "We are driven by SMBs and accounting professionals that are clamoring for change and providing an alternative to Intuit's QuickBooks that effectively delivers the power of cloud accounting. Our growing customer base and recent $150 million investment is fueling this innovation and quickly putting us at the head of the market. Most importantly, with these new capabilities and the forthcoming Xero Payroll, we're helping our customers improve their business productivity and manage their finances with ease."

"Xero continues to make life easier by constantly anticipating our needs with new tools to help us manage and grow the business," says Tim Donohoue, COO of Advisor. "These new features will save me time and allow me to make the best business decisions with a complete and always up-to-date picture of our company's financial health. Rather than spending hours sorting through receipts, bills and contracts, I can just snap a picture, tap my phone, or click my mouse to accomplish nearly all of our accounting needs in minutes."

Xero Touch for iOS
Xero has introduced a complete redesign of its iOS application to complement iOS7 and deliver fast performance and responsiveness. The new app embraces Apple's mantra of "content is king," eliminating screen-hogging visual features and replacing them with more productive means to access and manipulate data. The new app speeds up bank reconciliations with the touch of a button; expensing and invoicing with the click of a camera; invoicing with the tap of a finger; and offers real-time connections with accounting professionals for financial health check-ups.

Xero Files
Xero Files allows for multiple files and documents to be attached to almost anything in Xero, delivering a comprehensive, 360-degree financial picture that can be viewed in Xero's single ledger. Users of Xero Files can drag-and-drop almost any kind of file into Xero and link it to almost anything (invoices, transactions, expense receipts, fixed assets, contracts, chart of accounts, bank accounts and even manual journals). Xero ensures files are secure, encrypted and easy-to-find for customers and their accounting counterparts. The collaborative nature of Xero Files fosters improved efficiency, allowing for anytime, anywhere access to your financial landscape with just a few clicks.

Xero Purchase Orders
Xero Purchase Orders helps small businesses manage the process of ordering and paying for goods, all in one location. With the touch of a button, Xero Purchase Orders create customized POs that can be emailed to suppliers and easily be turned into bills (saving countless hours of data entry and eliminating the possibility of human error). Similar to the workflow process of Xero Invoicing, with Xero Purchase Orders customers can search for POs and manage the process from a PO specific dashboard.

Free QuickBooks® Conversion Service
In response to vast customer demand, Xero recently introduced the industry's first QuickBooks Conversion Service. This free service releases more than four million small businesses and accounting professionals from the confines of legacy desktop accounting, allowing customers to easily migrate data from QuickBooks into Xero's powerful cloud platform. Moving data from QuickBooks' archaic system into Xero's cloud-based platform allows customers to easily and quickly access, transfer and manage massive amounts of disparate financial data -- simply from a browser.

Sneak Peek at Xero Payroll
And coming soon... Xero Payroll marries accounting and payroll to provide the industry's most seamless and comprehensive payroll solution to date. With Xero Payroll, customers can automate the following processes: payroll; tax calculations; direct deposit and check options; employee access options; and an electronic tax filing alert and e-applications. Xero Payroll also includes an API to connect relevant systems such as HR and time tracking. For a sneak peek of Xero Payroll, join us on the Xero Virtual Roadshow.

About Xero
Xero is beautiful, easy to use online accounting software for small businesses and their advisors. The company has over 210,000 paying customers in more than 100 countries around the world. Recently Xero garnered a five-star review for Software As Service from CPA Practice Advisor. The Xero US team is headquartered in San Francisco. Xero is hosted with Rackspace in Chicago.

See www.xero.com to learn more and visit Small Business Guides to gain insight on how to grow your small business http://www.xero.com

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