Xero is continuing to invest in and work with the partner community to enrich reporting with new features, customization options and insightful analysis, as it simultaneously works to strengthen its underlying technology. Recent improvements to new reports include greater control over accounts and balances in the Account Transactions report, and powerful one-click settings that tailor reports to suit user needs. It also includes enhancements to Xero’s report styles in Xero HQ, giving users the ability to change font sizes, as well as adding preset and custom watermarks. This includes many of the leaders who are here to support you and are absorbing the news themselves in parallel. I trust that Xeros will extend empathy and compassion for each other as we move through this time and as a leadership team, we remain here to support everyone as much as possible also. Xero will become the accounting platform of choice for DFK’s independent member firms and their small to medium business clients.

• Please connect with your People Leader, Senior Leader or People Experience (PX) team.
• We are committed to evolving our business to deliver on our global aspirations.
• This includes many of the leaders who are here to support you and are absorbing the news themselves in parallel.
• You can now upload up to 10 documents at once to Hubdoc, helping you save time and reduce everyday admin.

This first-of-its-kind group is made up of experts from the small business community and industry experts around the world, and is chaired by Xero’s Executive General Manager of Data, Kendra Vant. “It has been a privilege to build on the legacy of our founder Rod Drury to position Xero for continued growth around the world. Our partners, customers and other key stakeholders increasingly recognise the benefits of cloud applications and services which support small business success.” “Steve is a highly respected leader. He led our people, customers and partners through COVID as many of our small business customers, bookkeepers, accountants, and ecosystem partners had to adapt the way they operated and find pathways for business survival.” We recently celebrated 15 years since Xero was registered as a company in Wellington, New Zealand. Today, the original vision to change the game for small business is stronger than ever, with Xero’s team of more than 3,600 people working to bring the platform to millions more small businesses and their advisors around the world.

New Xero research reveals over half of Australians fear making a mistake on their tax return

Today I want to share an important update and the extremely challenging news that comes with it. New research from global cloud-based small business platform Xero reveals a notable gap in financial literacy among U.S. small business owners…. Sukhinder is an experienced Silicon Valley executive, with more than 25 yearsʼ global leadership experience, including as President, Asia Pacific & Latin America at Google; President at StubHub; founder of theBoardlist; founder of Joyus, where she was CEO; and co-founder of Yodlee.

New Xero data reveals Australian small business hiring continues amid sales volatility

This month, Xero made two important announcements that demonstrate our progress in delivering on our vision to become the most insightful and trusted small business platform. We launched a suite of analytics tools powered by data and AI, as well as shared Xero’s commitment to responsible data use, including the launch of a Xero Responsible Data Use Advisory Council. Xero provides a product customers love and value, as shown by our continued revenue growth and improving profitability. We are committed to evolving our business to deliver on our global aspirations. The opportunity ahead is significant and we remain focused on our vision, to be the world’s most insightful and trusted small business platform.

This focus was also reflected in our net profit, which increased to $54.1 million compared to a net loss of $16.1 million in H1 FY23. The combined power of Xero and advisors across the Mazars global network would enable business owners and emerging enterprises to make better decisions every day as a result of up-to-date, accurate financial data and expert insights through innovative technology. To enable quicker and easier payroll reconciliation for the end of the financial year, we’ve made improvements to the transparency of key numbers and totals. We’ve also provided easier access to reports to make reviewing and finalising more efficient. Over the last month, we’ve rolled out updates to key features in Xero including improvements to batch bank feeds, and introduced AI-generated answers to help you get the most relevant information when you need help within Xero. We’ve also implemented some of the most requested product ideas, including enabling you to upload multiple receipts in Hubdoc or void multiple transactions in one go.

Over the next few months, Xero users will notice a variety of other xeronews enhancements, including new ways to access and search for reports, the ability to customize content and layout, add cell annotations, and build management reports. With more editing options and a refreshed design, accountants and bookkeepers will be able to better customize reports to suit their unique needs and style. As we look forward, we’re sharpening our focus on Xero’s key levers of growth as we aspire to become a higher performing SaaS company. We will continue to balance growth and profitability, while delivering more value to our customers.

The strong operating results saw operating revenue up 21% (20% in constant currency (CC)) to $799.5 million. This, along with disciplined cost management and restructuring outcomes, supported a 90% increase in EBITDA compared to H1 FY23, to $206.1 million. This reflected our ongoing focus on balancing growth and profitability, and resulted in an increase in free cash flow to $106.7 million, representing a free cash flow margin of 13.3% compared to 2.4% in the prior period.

Global: AI-generated search results in the help menu

• This first-of-its-kind group is made up of experts from the small business community and industry experts around the world, and is chaired by Xero’s Executive General Manager of Data, Kendra Vant.
• Over the past few weeks, as I have stepped into the CEO seat, we have had several conversations about Xero’s strengths and significant market opportunities.
• These improvements combine the most-loved features of older reports in Xero with new features, designed to help advisors and small businesses quickly see the full business picture and make informed plans for the future.
• While we remain committed to our broader platform strategy, to further focus our efforts, we have also made the decision to exit Waddle, the cloud-based lending platform we acquired in 2020.
• These enhancements will streamline processes, reduce manual tasks, and ensure greater legislative compliance.

Mazars advisors will also have the opportunity to access resources and education to develop further expertise in cloud accounting through the Xero platform. At Xero, we believe using data responsibly is in everyone’s interest, including our small business customers, advisors, those we do business with and our partners. However, we know small businesses don’t always have the time to learn everything they need to know about the opportunities and challenges that come with using data. To help fill this vital education gap for small businesses and their advisors, we’ve established a Xero Responsible Data Use Advisory Council.

She has significant public and private board experience with multiple companies. The look and functionality of several payroll reports has been upgraded for consistency and now matches the latest Xero reports experience. This includes the ability to re-order columns, and the ability to export to Google Sheets in addition to the current PDF and Excel formats. If you’re a payroll admin, it’s now easier for you to access historic real-time information (RTI) submissions for reverted and deleted pay runs, giving you better transparency and ability to self-serve. You can download your historic RTI  submissions from the RTI filings table in payroll.

On my CEO listening tour, I also heard from many Xeros about how we can improve our focus and prioritisation of resources to become more effective. Externally the broader tech landscape favoured high growth in this period; internally, we were less clear and measured in the rate of our hiring and investments. As we discussed recently, as Xero continued to scale in recent years, we have grown our headcount, areas of focus and cost base at a faster rate than our revenue. Over the past few weeks, as I have stepped into the CEO seat, we have had several conversations about Xero’s strengths and significant market opportunities. We have also talked candidly about our challenges following the rapid scaling of the company.

Xero launches Xero Verify to bring world-class data protection to all small businesses and partners

While we remain committed to our broader platform strategy, to further focus our efforts, we have also made the decision to exit Waddle, the cloud-based lending platform we acquired in 2020. We’ve introduced a new bank feed for Stifel, making it easier to get your banking transactions directly into Xero. You  can now specify a work pattern of up to two weeks in length for employees, which gives you more flexibility in defining their working hours.

Xero users can now generate British Columbia Provincial Sales Tax, Saskatchewan Provincial Sales Tax, and Manitoba Retail Sales Tax return reports in Xero, providing even greater sales tax reporting coverage across Canada. Now, users have a solution designed for their province that automatically calculates sales tax for specific filing periods and tracks prior period adjustments. Xero recognizes global agreements with large organizations like Mazars that support deeper utilization of Xero globally, providing the firm with significant status and additional benefits.

Xero launches cloud-based personal tax solution for advisors

Sukhinder is an advocate for advancing diversity and inclusion; in 2015 she founded theBoardList, an online talent marketplace connecting CEOs with qualified diverse board candidates who are peer endorsed. She is also the author of the Wall Street Journal best-seller, “Choose Possibility” which offers advice on how to manage and optimise risk-taking for professional growth. Steve Vamos is entitled to his remuneration for the period of employment and his statutory benefits. UK customers can now conveniently opt in through the billing contact page to automatically receive their monthly Xero subscription invoices as draft bills in Xero.

To help save time and ensure more accurate payroll from the first pay run, we’ve modernised the user interface, included more informative content, and ensured the page meets accessibility standards. More features from classic invoicing are being rolled out in the new version of invoicing. This includes the ability to view tax rates and breakdowns in the invoice creation screen, and because of your idea, record overpayments against invoices so that credit can be applied to future invoices. We welcomed new partners to the Xero App Marketplace last month, including SaasAnt Transactions, Billdozer and Mattero.