Xero, Wells Fargo, U.S Bank and BCSG were all winners at Barlow Research’s 2016 Monarch Innovation Awards, announced Friday.
Xero won for its TaxTouch app, released last month, it helps freelancers, or those who file a Schedule C, like Uber or Lyft drivers, separate their work and personal expenses and understand how much tax they owe.
Xero’s U.S. President Russ Fujioka said it was the relationships and technology developed in the core Xero cloud accounting product that helped rapidly build out this mobile solution.
“We wanted to make Xero TaxTouch really easy, simple and gamify it a little so we can move freelancers away from the shoebox or spreadsheet mentality and get them categorizing expenses every day, on the move,” Fujioka said.
“Keeping really accurate expenses helps freelancers see their real-time financial position and makes it much simpler to file a schedule C, come tax time.”
Barlow’s award winners were judged on how unique, sticky, dependable and easy to use the product is.
“To make a product work for a mass market, you’ve got to have really powerful design. The ease of TaxTouch shows the depth of technology developed at Xero,” Fujioka said. “We’re really fired up about winning the Barlow award for TaxTouch.”
The “WOW” factor of Xero TaxTouch was rigorously judged by a panel of four jurists, including Genpact’s Robert Berini, BAI’s Bill Hippensteel, Nick Miller from Clarity Advantage Corporation, and Capital Performance Group’s Mary Beth Sullivan.
Xero won the overall most innovate award by coming up with an app that gives freelancers and contractors a worry-free way to save money by tracking income and tax liability on the go.
“Xero took a task every small business owner hates and made it easy and fun,” the judges said.
The easy-to-use, mobile app lets you quickly organize bank and credit card transactions by separating business and personal expenses – swipe right for business or left for personal.
“We think that Xero has gone a long way towards solving the tool that you’ll use. It’s so easy and so inviting, it cleans up a bunch of the mess that you would otherwise really not want to deal with,” Barlow Judge Nick Miller said.
If you are in the US, you can download the app here
To find out more about Xero TaxTouch go to xero.com/us/taxtouch/