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MarketScreener Homepage  >  Equities  >  Australian Stock Exchange  >  Xero Limited    XRO   NZXROE0001S2

XERO LIMITED

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Xero : 19/3/2020 - Xero includes Hubdoc in Xero plans and launches Xero Tax UK to bring even more value to global customers

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03/18/2020 | 10:33pm EDT

MEDIA RELEASE

Xero includes Hubdoc in Xero plans and launches Xero Tax UK to bring even

more value to global customers

Xero announces important milestones in the integration of Hubdoc and Instafile in less than two years from acquisition, with the technologies now being made available to customers directly within Xero

[WELLINGTON, LONDON] - 18 March 2020 - Xero ,the global small business platform, announced another significant step on the journey to improving the lives of small business owners and their advisors, hitting a new milestone in the integration of Hubdoc into the Xero platform, and the official launch of Xero Tax in the UK.

Hubdoc, previously offered to customers as a standalone add-on,will be included in business edition plans from 18 March 2020 with a streamlined set up, single sign-on and access from within Xero​. Xero Tax will also be made available to UK accountants for the first time.

This is an important step in the ongoing work to integrate Hubdoc and Instafile, acquired by Xero in 2018, into the Xero platform and provide even more value to small business customers and advisors across the globe.

The high-integrity data, real-time insights and end-to-end compliance delivered by Hubdoc and Xero Tax will help future-proof accountants' roles by allowing them to advise more confidently, offer more services and broaden their knowledge and client base.

"Xero first created single-ledgerdouble-entry accounting through the cloud. Now we are moving beyond that into the future, providing customers high-integrity data through Hubdoc, giving our customers the ability to see insights in real-time, as well as contributing to an integrated experience for completing end-to-end tax and compliance work with Xero Tax. These are critical elements in helping us to create a seamless workflow for accountants and bookkeepers," said Anna Curzon, Chief Product Officer at Xero.

Hubdoc and Xero come together to augment business intelligence

Hubdoc plays an important role in accelerating Xero's vision for intelligent automation and code-free accounting. Hubdoc captures information from bills and receipts, eliminates manual data entry, and ensures bank reconciliation is easy within Xero, saving time and reducing errors.

Since Xero acquired Hubdoc in 2018, it has been advancing its data capture technology powered by machine learning, doubling the volume of documents processed.

With Hubdoc now included in Xero Business Edition plans it will bring the functionality to even more small businesses globally, and enhance Xero's code-free accounting capabilities with future plans to continue to enhance the integration, making it more seamless and bringing the automation technology to other parts of the platform.

Xero Tax gives UK accountants a smarter way to prepare and file accounts

Xero Tax will launch in the UK with corporation tax and accounts production at the end of March, to provide accountants and bookkeepers with an easier way to deal with compliance.

Available free of charge in the UK, as a benefit of the partner programme, Xero Tax is a cloud-based accounts production and tax filing solution. It will enable accountants and bookkeepers to prepare and file accounts and tax returns efficiently and seamlessly using the Xero platform.

Xero Tax will have all the advantages of being on Xero's platform:

  • Fixed asset integration: generate capital allowance calculations directly from Xero's Fixed Asset Register to save time and reduce errors
  • Xero hotlinks: surface account transactions from within the accounts production workflow with a single click to easily identify where corrections may be required
  • Multi-userreview:collaborate in the preparation and reviewing of filings and easily pass the work between users
  • E-signing: clients can approve their filings from anywhere, anytime with our e-signing capability

Xero is developing a self-assessment tax module, ready for general release to our UK accounting and bookkeeping partners, for the tax year ending 2021 - and is also committed to providing a solution for Making Tax Digital for Income Tax.

Xero Tax will be available free of charge to all UK accountants and bookkeepers on the Xero Partner Programme. Find out morehere

ENDS

Media Contact

Abby Hempfling

Head of Product Communications abby.hempfling@xero.com

About Xero

Born in the cloud, Xero is a beautiful, easy-to-use platform for small businesses and their advisors around the world. Xero provides its 2+ million subscribers with connections to a thriving ecosystem of 800+ third-party apps and 200+ connections to banks and financial service providers. On the inaugural 2018 Financial Times FT1000 High-Growth Companies Asia Pacific list, Xero was the fastest growing tech company in the $200+ million segment. Xero won 'Accountancy Software Provider of the Year' at the British Business Awards in 2019, and was rated by Canstar Blue as the best accounting software in Australia from 2015-2018 and in New Zealand in 2019.

Disclaimer

Xero Limited published this content on 19 March 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 19 March 2020 03:32:05 UTC

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