This past year has been extremely exciting for both Hubdoc and Xero. In addition to officially becoming part of the Xero family, we’ve also had the opportunity to connect with Xero partners around the world at Xerocons in Atlanta, Brisbane, and most recently London!
The core theme of every Xerocon this year was, of course, “human at heart”. This theme carried through in many ways at Xerocon Atlanta and Brisbane. Xerocon London was no different.
From the opening dance number that epitomized the connection between humans and technology, it quickly became evident that Xerocon London was not just about Xero’s product development or the future of the accounting industry – it was about people. The “human at heart” theme surfaced at Xerocon London in a few other notable ways.
Putting advisory services into action
85% of small businesses are able to survive past their first five years with the help of an advisor, compared to just 50% if they go at it alone! Xerocon London emphasized the critical role that accountants and bookkeepers – people – play in empowering the small business economy.
Recognizing the importance of the relationship between advisors and small business owners, Xero has worked to provide advisors with the tools they need to offer more robust advisory services. The focus of many of these efforts has been on app advisory. At Xerocon London, this extended to cash flow app advisory with the release of their cash flow playbook.
1/3 What a #xerocon! Delighted to launch our cash flow app playbook. Simplified playbook journey for @Xero advisors:— Andy Muir (@AndyMuir15) November 16, 2018
- profile your clients & define approach
- drive efficiencies with bank feeds & automation apps@Hubdoc @AutoEntry_OCREX @datamolino @ReceiptBank @ApprovalMax
The conversation at Xerocon London was also heavily focused on compliance (more on that next). As the accounting technology ecosystem evolves to better manage compliance and automate administrative tasks, the area in which advisors can really make a difference is in the level and depth of their advisory services.
Adapting to the future
With Making Tax Digital (MTD) for VAT right around the corner, Xero introduced Dexter, the Digital Tax Advisor – just one element of their campaign to help promote awareness about the changes MTD will bring to small businesses (with an added human touch!).
👋 Introducing Dexter: The Digital Tax Advisor – here to help #smallbiz owners better understand Making Tax Digital & the steps to take to be tax-compliant.— Xero (@Xero) November 14, 2018
If you're at #Xerocon London, share your selfie w Dexter 👇
As discussed at Xerocon, MTD signifies the beginning of a larger digital shift. The impact of this shift will extend beyond the accounting industry. It’s up to advisors to help their small business clients navigate these changes and prepare for the future – fortunately, this means even more exciting advancements will be made in accounting technology, enabling advisors to build stronger relationships with their clients, their employees, and their peers.
Keeping people first
We had an amazing time at #xerocon yesterday - it is one of the most exciting times to be an accountant right now! #Tech enables even better relationships and advice that can really change the life of clients. pic.twitter.com/0CLTilW37i— Wright Vigar (@wrightvigar) November 16, 2018
As Gary Turner remarked in his keynote address, there were over 3,000 people in attendance at Xerocon London – i.e., not robots. In-person events like Xerocon always remind me that automation will continue to enable the accounting industry to thrive upon a foundation of human relationships.
As Hubdoc embarks upon our exciting future with Xero, we can’t wait to help advisors spend less time on administrative tasks and more time helping their small business clients.
Thanks for a wonderful Xerocon – we’re excited to continue to connect with advisors in the UK!
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