Xero adds online invoicing

Xero adds online invoicing

1 October 2012

Leading small business accounting software provider Xero continues to change the accounting game with the addition of online invoicing.

Over the last 6 years the company has been building accounting on the web. This has been a major investment, to build a full accounting system that connects small business owners to their accountants, bookkeepers, banks and other business solutions. Over 100,000 businesses now run on Xero.

Today Xero changes the game again by connecting businesses to each other. Online invoicing enables businesses to share invoices electronically online, reduces the rekeying of business data and improves business cash flow by speeding up presentation, data entry and payment of invoices.

This is the start of the next generation of accounting where businesses are not only connected to the information they need but to each other, says CEO Rod Drury. “Like many great ideas online invoicing seems simple, but the implications of connecting small business electronically and at scale are huge.”

Drury says millions of hours are wasted each year as small business owners rekey invoices that were generated in another accounting system. “When we started Xero, providing automated daily bank feeds into accounting software was a game changer. Now it is functionality that is expected. Online invoicing is the next big thing and as it is adopted it will materially improve productivity at a national scale over time.”

More information on Xero’s online invoicing is available on the Xero blog: http://blog.xero.com/?p=30858

ENDS

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