Global small business platform Xero has announced Xero Analytics Plus, part of a new suite of planning and forecasting tools powered by artificial intelligence.
Available now, Xero Analytics Plus combines cash flow forecasting featuring advanced predictions and insightful business reporting tools, directly available in Xero. The tools are the culmination of rigorous testing and development with the broader Xero community during a challenging period for small businesses and build on the company’s commitment to be the most insightful and trusted platform for SMEs.
Xero has also released Analytics, a free tool for all Xero Business Edition subscribers. Analytics combines the existing short-term cash flow tool, which visually projects cash flow over 30 days, and the business snapshot tool, which provides up to date insights on business performance. Since the initial pilot release last year, the cash flow tool has been redesigned with an all-new look and the ability to view future scheduled invoices and bills, while users can now view the business snapshot report on a cash or accrual basis.
“To truly grow and thrive, every business needs to have access to trusted, insightful data that helps them understand where they are now, make decisions for today and where they might be headed in the future,” says Xero chief product officer, Anna Curzon.
“Over the past two years, we’ve worked closely with small businesses and advisors all around the world to build simple, beautiful and powerful tools and reports that give them access to that data, all on the Xero platform. As our business scale has grown, we can now provide powerful AI-powered products that use rich, trusted data. This data helps small businesses not only understand their current position but make decisions with confidence based on their future potential.”
AI-powered forecasts with Xero Analytics Plus
Xero says Analytics Plus supercharges forecasts and reporting to give growing small businesses greater flexibility and foresight over their business.
Using pattern-matching and predictive algorithms, short-term cash flow in Xero Analytics Plus can detect and predict regular cash expenses and income over the next week, month or quarter. Businesses can see their future potential cash flow, the impact of upcoming expenses and discover opportunities to bring cash into the business by invoicing customers sooner, changing payment times, or requesting a deposit. Owners can also plan for multiple scenarios by manually adding transactions to see how they might affect their cash position in the future.
A more powerful business snapshot tool gives small businesses a quick, easy-to-understand summary of their business performance to help them have meaningful discussions about their plans with their advisor. In Xero Analytics Plus, businesses can see their performance over multiple years, drill into the details to analyse trends, and identify areas for improvement.
All customers can try Xero Analytics Plus for free up until 31 January 2022. Once the free period ends, the standard pricing will apply. Pricing information can be found here.
Xero Analytics and Xero Analytics Plus inclusions
