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New feature to maximise data value

Accountants and their clients can now drill down further to better utilise accounting data thanks to a new feature launched by Xero.

News Michael Masterman 24 June 2014
— 1 minute read

The brand new feature, Smart Lists, allows users to search and export customer and vendor contacts for purposes that can include marketing and cash flow management.


Businesses and their advisers can use Smart Lists to create targeted lists based on a variety of filters such as customers’ past purchase behaviour, geographic location and payment patterns, including outstanding payments.

Xero Australia managing director Chris Ridd told AccountantsDaily that Smart Lists is just the first of many new features designed to utilise accounting data to help drive business success.

“When Xero first conceived building accounting software it was never really just about building another client accounting product, it was always about really understanding the workflow of small business and then being able to offer quite innovative functionalities to the business owner,” he said.

“What we are allowing customers to do with these new features is unlock a lot of the value that’s sitting in the accounting data,” added Mr Ridd.

With the role of many accountants shifting from compliance work to a business advisory role, better tapping into a client’s data can help accountants create significant value.

“It’s all about making the accountants more valuable to the client and being able to help them drive their business,” said Mr Ridd.

“Smart Lists is not just about helping a business grow revenue by being able to better target their existing clients ... You can start to extract targeted lists of customers that are slow in paying or haven’t paid an invoice for a number of months, you can start to see how you can really help the cash flow, and an accountant can be really at the centre of all of that and provide that functionality and advice that goes with it,” he said.

New feature to maximise data value
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