If you don’t already utilise Xero technology in your business, you may want to rethink after reading this blog.
With already over 800 third party apps able to integrate with your Xero account, Xero are constantly looking for new partners to help streamline processes for businesses of all sizes.
What’s been available?
Bank feed integration has been around for some time now. By integrating your bank with Xero, this enables the begging of real time accounting, meaning that up to the day, transactions occurring within your business can be reconciled and accounted for.
Whilst this may seem trivial, the benefits of connected banking and accounting via bank feeds is just the beginning.
Let’s take a look at what’s next.
What has just been launched
Small business finance –
Lending assessment and Xero can be done within the same platform, meaning no back and forth of information between banks and accountants or applicants. This new lending solutions offered though NAB bank is a handy tool that allows small businesses to easily share financial reports from Xero to apply for a new business or personal loan.
Learn more here.
What’s coming in the near future?
Pay bills and suppliers easily –
Xero and NAB’s bill payment integration is the first step in connected payments with Xero, which will make it even easier to manage and pay your bills. Businesses can seamlessly process payments and send payment instructions, then approve directly from the NAB app.
See more here.
Integrations are happening, not only between technology providers and third-party companies, but within the industry itself. You will soon be able to make payments through Xero, with invoices read through Receipt-Bank and reconciliation done directly via Xero and your NAB account.
Now more than ever, it is beneficial to have a full suite of connected technology from invoice capture and input through to bills in Xero and payments such as NAB Bill Payment.
If you would like to discuss what technology is available for your business or need help utilising all the functions of your Xero account,
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