We’re pretty damn excited about our move to a brand new UK HQ in Milton Keynes. On 1 September we moved into our incredible space in Bank House. So we thought it was time for an update and a sneaky peek at our new, improved home.
Oh, and did we mention that we’ve moved to a new London office that’s over twice as big as our old one? Well, read on and I’ll tell you more…
An amazing new space to work
Our Xero UK team has grown massively over the past year, so it was clear that we needed a bigger, better and brighter office to really help us make the most of our people. We also wanted somewhere we can work more closely with our partners and customers – creating an inspiring place to work and collaborate together has been central to our aims for the new HQ. And, I have to say, things are looking great in the new space. There are so many different options for collaborating together – hot desks, traditional meeting rooms, informal booths, break-out spaces, stand-up desks and even a bean bag area if that takes your fancy. Continue reading ›
NZBN is a significant element in simplifying how you work with government. Under the proposed legislation, all businesses, government agencies and not-for-profit entities in New Zealand will be eligible for a unique NZBN. Once the NZBN is fully implemented, you’ll only have to provide government with your core information once. This information will then be automatically shared across agencies using the NZBN to identify you.
As accountants this is your chance to give feedback on something that means you can spend more time doing what you do best, and less time worrying about interacting with government.
The Ministry of Business, Innovation and Employment (MBIE) is looking for particular feedback on:
- who should be allocated a NZBN
- what information should be linked
- the rules around using the NZBN
- how to ensure information is protected
NZBN was initially allocated to companies; however around half of New Zealand businesses are not companies so this next stage of public consultation is on the detailed rules of which businesses should have one and how they can go about getting one.
Because Xero is passionate about supporting New Zealand small business, we’ve been working hard for a more streamlined approach to connect businesses and government, and we were pleased to host the launch at our offices back in March. Now we’re really excited that NZBN has made it to the next stage, and we encourage our partners to get involved and have your say before the final Bill is introduced.
To find out more, head to http://www.mbie.govt.nz/about-us/consultation/nzbn-bill-exposure-draft
Doing business in the cloud or halfway up a mountain – tomorrow’s entrepreneurs confirm the desktop is dead
Spend a few moments chatting to anyone under the age of 25 about technology and you might find yourself struggling to keep up. Digital-native teens and twenty-somethings are lightning-quick when navigating their way around new software and devices. They know all about the latest and coolest apps well before the media and – excitingly – aren’t afraid to use them.
Like the rest of us, they will no doubt make mistakes in their careers, as well as face financial challenges. Yet, in an age where cloud technology and super-smart devices are evolving at an unstoppable pace, there are a world of opportunities for tomorrow’s tycoons.
Picking up the technology mantle, they can do business in new ways, or take a chance and follow in the footsteps of the current generation of entrepreneurs and venture into untapped markets and sectors.
Recently, we commissioned a poll of around 500 people aged 16-24, which revealed some interesting insights about how they think – and where the future of business technology is headed.
What came across loud and clear is that the desktop is dead. The new generation of digital natives also want and, in most cases, will expect to access all files and documents, speak to customers and associates and run an enterprise from anywhere – whether it is in the street or half way up a mountain. Continue reading ›
Businesses that sell to other businesses often see cashflow issues when they’re waiting for invoices to be paid. With MarketInvoice, a recent addition to our Add-on Marketplace, you can draw down a large percentage of an invoice on day one, rather than having to wait for payment from your customer.
That’s money that can be ploughed back into your business, so you can focus on growth rather than cashflow management.
Applying to use MarketInvoice is quick and hassle-free; it takes 15 minutes to apply online and only minutes to upload invoices to trade. And because MarketInvoice is now integrated with Xero, this process is even faster. It’s a pay-as-you-go service, so you only need to pay when you need help with your cashflow. You can see all fees upfront, and there are no debentures or personal guarantees.
Who’s MarketInvoice for?
MarketInvoice is aimed at UK businesses that sell goods or services to large corporates (revenues of over £50m) or the public sector. Clients normally have at least six months trading history and at least £100,000 in turnover, but MarketInvoice also serves businesses with over £100m in turnover.
Businesses that use MarketInvoice come from across the UK and operate in a range of sectors. Around 30% of these businesses do so to fund their export contracts. The service suits high-growth businesses, as well as those without fixed assets (mainly service and software businesses).
How does it work with Xero?
MarketInvoice integrates with Xero to streamline both the application process and the uploading of invoices for sale.
You connect to the MarketInvoice Xero portal and click ‘apply through Xero’. Then you log in (if not already logged in) to your Xero account and an application form is pre-populated with data from Xero. Set up a password and contact number and click apply. MarketInvoice will get back to you within 24 hours (usually 20 minutes) to let you know if you’ve been approved.
Once approved, businesses can access the MarketInvoice platform directly from Xero and sell selected invoices in just three clicks. Funding will be advanced within a couple of hours.
How do I sign up?
At the moment, only UK businesses can use MarketInvoice, although you can use the service to fund your overseas business.
You can sign up for MarketInvoice by clicking ‘Apply through Xero’ on their website. Signing up is fast and risk free. If you decide you don’t want to use the service, that’s fine. You’re never charged a penny. There’s even a handy cost calculator where you can work out what size funds can be transferred, based on the size of your invoice. It’s simple, fast and effective.
To find out more, just visit the MarketInvoice website here.
Read more about Business
This year’s Xerocon conference in Sydney attracted over 1300 attendees from the accounting, bookkeeping and financial advisor industries. The conference closed on a high as we celebrated the contribution of some of Australia’s leading partners at the Xero Partner Awards dinner on Friday evening.
Xero Australia MD Chris Ridd says “These prestigious awards honor the top performing add-on developers, accounting practices and bookkeeping professionals that our partner ecosystem has to offer.”
“We are delighted to see the huge efforts of our many partners in what was hotly contested awards ceremony that celebrated some amazing innovations and best practices. Our partners are absolutely critical to our success and these awards shine a spotlight on their successes.
Congratulations to each winner on this incredible achievement.
Winners of the Xero Partner Awards
Accounting Partner of the Year –
Mulcahy & Co.
Bookkeeping Partner of the Year –
We’re making changes on a few fronts in Xero Workpapers today: we’ve made a number of enhancements for our existing users and we’re pleased to announce Workpapers is now available globally.
Today we’re launching a global edition of Xero Workpapers. Our accounting and bookkeeping partners anywhere in the world can now manage their workpapers, letters and client queries. Compiling management and year-end accounts has never been easier – head on over to the new global help centre to see what we have in store for you, then set up a free trial.
New and improved workpapers
The Home Office workpaper has had a major update – we’ve added a new tabbed design for those times when there’s a change of address or there are multiple claims to be made. It also uses the smarts behind our Permanent workpaper to remember key details from period to period.
We’ve also built a brand new workpaper for operating leases: this helps you keep track of your clients’ lease documentation and calculate their future commitment. To save you even more time, this is also remembered across periods.
When you send bulk queries, Xero Workpapers has some new smarts to decide how the packs are assigned, based on your most recent staff allocations. This makes it much easier to ensure your staff know what they should be working on.
The Xero Workpapers and Practice Manager teams are working together closely to combine our powers. It’s going to take a while but work is already under way to bring two major parts of Practice Studio closer together and take advantage of each other’s strengths.
In the coming months, Xero Workpapers will have a new look and will be much more tightly integrated with Xero Practice Manager. This is pretty exciting for all of us – more news as this work progresses.
Read more about Accountants
Many exciting announcements were made at Xerocon 2014. The one that had the most impact for me came on day two when Chris Ridd welcomed me to the main stage with the news that I had been appointed to the role of Head of Accounting of Xero Australia.
It’s a unique role that has been strategically designed to enable me to keep a foot in both camps, so to speak. So while I will be the Head of Accounting for Xero Australia, I’ll be performing this role alongside my position as director of EFS Strategic. This means I will continue to be hands on with my practice and clients. You could say I am on both sides of the ledger now!
The response from Xero Partners and the Xero Team has been amazing and proves that the industry is ready to embrace change. Thank you to everyone for their words of support.
Very excited to announce that I am the @Xero new Head of Accounting in Australia ! ????
— James Solomons (@JamesSolomonsCA) August 22, 2014
One thing I would like to make clear is that while I have strong opinions and beliefs on how a financial services firm can operate successfully, I’m very aware that businesses do things a little differently. We each have our own unique selling points and personalities. That’s why our clients choose one firm over another to build a relationship with as part of their own business advisory support network.
So, this role is not about coaching or training the Xero Partners. It’s about listening to you and collating your feedback and finding out what is frustrating you and holding you back from operating your own best practice firm. I will offer support and guidance and share my experiences with you, however my overriding goal is to be a sounding board for all things relating to our industry.
There is no doubt that there are a number of practitioners in the industry worried about what the future may hold. The key to prospering from this disruption is to embrace change and to start building your practice so that it can adapt to the ever-changing digital world. The compliance-only model will not survive as our industry becomes more automated and the government continues with its mandate to reduce red tape. If I am starting to sound like a broken record on this point then I make no apologies.
I said that I am committed to ensuring that Xero delivers market leading solutions to partners to help them run a modern practice. Taking the partner’s wants and desires direct to the product and development teams will ensure that your voices are heard at the table.
It is obvious that the missing piece to the puzzle remains a full tax suite for accounting practitioners. The Activity Statement and Company Forms now in Xero Practice Manager have worked well, but there is no doubt practitioners need to see the entire suite and they need to see it soon. That was the key piece of feedback I received as I walked the floor during the event. And this was not just feedback from partners, it came from the Xero Team themselves who all spoke with me about their goals to deliver what the partners want!
The other important aspect of my role is to be the voice of Xero and its partners direct into the accounting industry. What Xero has been doing has captured the attention of the ATO and Government (as highlighted by Chris Ridd) and Xero now not only sits at the round table when it comes to industry focus groups but leads the discussion. My task is to leverage this hard work and elevate it to the next level in all parts of the industry. I’ll ensure our voice is heard by the ATO, our professional bodies, the media and most importantly by businesses across Australia and the world.
And I got off to a good start judging by this tweet…
— Rod Drury (@roddrury) August 23, 2014
As for my vision… Well, I want to work towards seeing an industry filled with professionals who get technology; who challenge the status quo and who equip themselves and their clients with the market-leading accounting solution to ensure that maximum value is added to their business and their clients’ businesses at every single opportunity.
Don’t forget to check out the short video we put together while I was at Xerocon:
As MD of Xero Australia, I find myself taking to the stage quite a bit – especially at events like Xerocon.
And while I do enjoy getting up there to share news, views and ideas about Xero and the customers we work with, nothing quite beats the feeling of taking to the stage in a different guise: with a guitar, a mic and my fellow musos who make up the Xero band.
An event like Xerocon deserves a big performance, and judging by the buzz of the crowd – and the frenetic activity on the dance floor – our humble band did an awesome job of bringing Xerocon to a close in a big way.
We played a solid mix of classics spanning a range of tempos and genres, giving our audience of over 1,000 lots to choose from. Check out some highlights from our performance over on Xero’s Vimeo channel. Continue reading ›
After months of planning, preparation and brainstorming, the curtains have been drawn on Xerocon 2014. And what an event it was. From the number of attendees and the scope of ideas and content to the sheer size of the venue, everything about Xerocon was big. We were thrilled to welcome 1,300 delegates (a record for us) to two days packed with sessions spanning consumer psychology, branding and culture, digital disruption and more.
This morning the Xero team released our new Add-on Marketplace.
It has been clear that we needed to solve some new problems as a result of the size of our add-on ecosystem: with over 350 integrated applications, it was difficult for customers and partners to find the specific add-on application they or their client needed.
The new marketplace allows users to search by keyword, category or for industry specific solutions, helping everyone find the right tools for the job. Whether you need a niche application for wineries or you are after a general small business CRM, the new add-on marketplace helps you find what you need.