“ Every hour a small business owner or accountant spends chasing paperwork or guessing what’ s next is an hour they’ re not spending on their customers and growth,” said Diya Jolly, Chief Product and Technology Officer at Xero.“ JAX changes that, giving customers a trusted system of action with real-time visibility and forward-looking insight, without asking them to give up control or compromise on accuracy. That’ s Accountable Intelligence and the standard we believe AI should deliver: less time spent on the busy work of running a business and more time spent building one.”

End-to-end AI-powered financial operations

The next evolution of Xero Partner Hub will bring live book health, work status and month-end readiness in the same view across all of a practice’ s clients. This new experience will be made possible by several key JAX-powered innovations that streamline the entire end-to-end journey, delivering verifiable automation with customers in control including:

• JAX will flag unreconciled items, duplicates, missing documents and anomalies and help customers resolve them. And as those are addressed, because it runs inside the ledger everything updates in real-time. Once the books pass a health check, Xero Partner Hub will also surface conversations that are worth having like cash flow patterns or unusual P & L movements.

• Smart Document Capture reads source documents and automatically extracts relevant data and information directly into Xero. Natively built within Xero, there’ s no syncing or exporting with another app required so documents and books are in lock-step.

• Auto Bank Reconciliation automates one of the most time consuming manual tasks in bookkeeping, saving accountants and bookkeepers around 50 % of their monthly bank reconciliation time. Matching highconfidence transactions to bank feeds automatically, in real-time, JAX helps to handle the routine and tells you exactly why it matched every single transaction, surfacing any exceptions that require human expertise. With more than 100 million transactions auto-reconciled since launch, Auto Bank Reconciliation continues to improve and in the coming months it will also handle more complex cases, like splitting a single payment across sales and fees.

• Document Requests in Xero Partner Hub, where JAX will request documents from the client, send reminders, respond to clarifications and then match it with transactions in Xero, all while making sure customers get to approve every step.

• Cash Flow actions, powered by JAX, will spot potential cash flow gaps before they arise and help businesses create a plan to stay in the black. JAX will also power new Payment followups and Bill Protection capabilities to facilitate faster money coming in and deliver visibility and control over money going out. �

32 Intelligent SME. tech