Xero has released Analytics Plus, a new suite of planning and forecasting tools.
Powered by artificial intelligence, Analytics Plus combines cash flow forecasting featuring advanced predictions and business reporting tools, directly available in Xero.
The offering comes at a time when business’ appetites for strong data insights are renewed, following the difficult pandemic year.
The suite was developed in collaboration — through testing and conversation — with the broader Xero community during 2020.
Xero has also released Analytics, a free tool for all Xero Business Edition subscribers that combines the existing short-term cash flow tool, which visually projects cash flow over 30 days, and business snapshot tool, providing up to date insights on their business performance. Since their initial release in pilot last year, the cash flow tool has been redesigned with a new look and the ability to view future scheduled invoices and bills, while the business snapshot report can now be viewed 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,” said Xero chief product officer Anna Curzon in a statement. “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 now are able to provide powerful AI-powered products that use rich, trusted data, to help small businesses not only understand their current position, but make decisions with confidence based on their future potential.”
Some features of Xero Analytics Plus include:
- Using pattern-matching and predictive algorithms, short-term cash flow in 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 into 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 Analytics Plus, businesses can see their performance over multiple years, drill into the details to analyze trends and identify areas for improvement.
Xero Analytics Plus will be included and available in Established/Premium plans. More information on pricing can be found
