Tuesday, 14 Mar 2017
Accounting software business Xero takes automated accounting to new levels yet again, promising big changes for the future of accounting. In addition to the automated coding, the company aims to work on applying machine learning to automate invoices entirely.
They’re set to unveil a brand new feature to it’s software in the upcoming week which is said to automate the coding of invoices and bank transactions for its small business customers, Mr Drury said the application of machine learning was the first of its kind in the industry and signalled the dawning of a new wave of innovation for accounting.
“We think machine learning will be a bigger thing than the move to the cloud. We think we’ll be able to make accounting so much easier than before, over half of our customers are new to accounting software; so cloud accounting did a big thing for making accounting more approachable, but this will attract the next generation of customers.”
But it definitely hasn’t been an easy process, nor is it over quite just yet!
It was said to be a very difficult journey overall, but finally they’re now really starting to see big performance improvements in the system. Continuously working through this process and reinventing the core processes. Half of the developers working on the project over the last year-and-a-half were working on getting them to AWS
If you would you like to read more about the launch read the rest of the article here:
http://www.afr.com/technology/bigger-than-the-cloud–xero-makes-first-move-towards-automated-accounting-20170308-gutfvs
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