Like all businesses, from time to time Xero reviews its pricing. Our belief is that by staying on our toes and continuing to invest in new ways of working we can help our customers access the best support, technology and training. From 18 March 2020, the price of Xero Starter, Standard and Premium plans is increasing by $2 a month in Australia.
Our “North Star” is to constantly invest in our products through harnessing the most up to date technology. We are focusing our product innovation on providing fast and accurate data, streamlined workflows and deeper insights to help our customers not only understand their current data but move into a new era where we can predict what will happen in the future.
The next big opportunity
One of the biggest opportunities we see developing is machine learning. This technology is a game changer which will dramatically cut the time needed for paperwork and administration.
This drove our acquisition of Hubdoc, which provides world-class technology that captures information from bills and receipts, reduces manual data entry, and makes bank reconciliation easier in Xero.
We are pleased to announce today that from 18 March 2020 we are adding more value to our plans by putting Hubdoc into the hands of anyone that subscribes to our Starter, Standard and Premium plans.
Hubdoc’s machine learning technology automatically extracts key data from documents when scanned, emailed or sent in via a smartphone. The documents are securely stored online, and are automatically filed and searchable. By integrating directly into Xero, Hubdoc turns bills and receipts into accurately coded transactions with the key data entered and source documents attached. From there the transactions are ready for one click bank reconciliation.
Hubdoc can help you simplify and go paperless
We are already hearing a lot of good stories about the benefits that are being achieved. Hubdoc not only saves small businesses’ time, it also saves bookkeepers’ and accountants’ time too. In Australia, innovative bookkeepers Bean Ninjas says they estimate it saves more than 22 hours a month using Hubdoc to automatically collect bank statements rather than having to ask clients to download them. The UK firm, Freedom in Numbers, also say they have saved more than a day per month in manual data entry. There is also a massive flow on benefit to small business owners who can refocus their efforts from collecting and managing bills and receipts to having real time access to a full digital record of all their transactions.
We want to do all we can to support people to cut out the time consuming tasks involved in running a business, leaving them free to focus on the things that they love. Whether that’s getting more time back for their personal life, or giving more meaningful attention to their business. Harnessing the latest technology is key for continuing to go forward, and at Xero we are constantly working towards ensuring our customers can take advantage of this new era of rapidly accelerating change.