Xero’s ANZ head on where accountants should spend their energy with AI adoption

Usage, he said, will depend on the work a practitioner is doing.

“Some things may not need to change, but you might have access to tools that could allow you to do it differently,” he said.

Moreover, he added, accountants should understand how those tools work so they don’t run into security issues or related challenges.

Soin made two critical suggestions to the audience: first, accountants must evaluate whether the tech they’re using actually helps change how they serve clients. “If it doesn’t, don’t just add it for the sake of it,” he said.

Second, he advised accountants to look past the misconception that AI will remove staff and instead think about “what you could not even dream about doing” before, because your practice didn't have the resources or time to do it.

“Spend your energy there, because I think that’s where [AI] has the greatest value,” he said.

You don’t just ‘apply AI’

Speaking with Accountants Daily post-event, Soin said that the accounting profession has been around for more than 150 years, born out of a need to establish trust, not just to balance the books.

“When investors were trying to ride the wave of the industrial revolution, they were worried about getting ripped off – the profession was established to bring peace of mind through judgement. Since then, the world has changed immensely; the technology, the tools, the regulations have evolved, and yet, the purpose has not,” he said.

“Tools like Excel and the Cloud removed manual work and friction so the profession could do what it was established to do – take that data, provide insight, judgment and build trust for their clients – in this case, small businesses that are trying to achieve their dreams.”

So, Soin said, when asked how a practice owner should think about their future during this technological change, he said to “make sure you stick to the fundamental principles, the same ones you would guide your small businesses to think through: What is your goal? Your personal view of success for your practice? Answer that, and then focus on how this new technology can help you get there”.

“And so, like any tool, you don't just 'apply AI',” he added.

Most of the conversation right now, Soin went on, is about what AI will take away, and what you will need to change to adapt.

Instead, accountants should “focus more on what it can do for you to achieve your goals, the things you never even tried to attempt because the sheer time and effort seemed impossible”.

“You evolved and thrived in the transition from desktop to cloud. This transition will ask the same of you. With the right mindset, I think you get the same result,” he said.

Post-event reactions

Tiufino said that Soin was a “fantastic” speaker who brought strategic insight and authenticity to the conversation.

“The audience really appreciated his openness on topics ranging from leadership and work-life balance through to AI and the future of the profession,” he noted.

“Xero has been an important partner for My Accounts over many years. They've consistently provided support, guidance and access when we've needed it, and we're grateful for the role they've played in helping our business grow,” Tiufino added.

Two Sides Accounting and Two Sides Academy founder Natalie Lennon and Hot Toast founder Sarah Lawrance – the two most recent winners of the Thought Leader of the Year category at the Australian Accounting Awards, and co-hosts of the Accounting After Hours podcast – were also in attendance at the APC event.

Soin, Lennon said, “is always so grounded and calm”, especially for someone leading Xero across ANZ and setting global strategy.

“He talked less about the technology and more about what clients actually want from us. His view that AI should take the fractional tasks nobody enjoys, so we can spend our time on judgement and advice, matched what I see in my own firm,” she said.

“The reminder to build a strategy around your own definition of success, not someone else's, resonated most. That is something I live and breathe, and talk about constantly when I am mentoring or speaking with accountants.”

Lawrance added that what stands out with Soin is that he holds a global strategic lens without ever losing sight of whether Xero is still relevant to Australian practitioners. “Plenty of leaders set global direction; far fewer keep testing it against what an Australian practice actually needs,” she said.

“I have pushed him more than once to make sure the strategy is one where we all win together, not one where the industry gets left behind. To his credit, that is still the play. He has been consistent in saying that what Xero is automating is the transactional, fractional work none of us wants to be doing anyway, so the freed-up time goes into judgement and advice. That lines up with what I tell every accountant I connect with.”

The other thing that Lawrance values, she said, is how Soin shows up when Xero gets it wrong.

“When the recent influencer post suggested clients could cut out their accountant, he put his own name to the response within the day, called it out as contradicting what Xero stands for, and talked about fixing the governance rather than just the messaging,” she said.

“I don't need a partner to be perfect. I need one that owns it quickly and says what changes.”

Reflecting on the My Accounts event, Tiufino said that the APC community “has always been about creating a space where accountants can learn from each other, share experiences, and build genuine relationships”.

“The business opportunities and referrals that emerge are simply a natural by-product of bringing great people together,” he said.

“Our sponsors deserve enormous credit. Their support allows us to continue investing in the community and, importantly, keeps these events free for attendees.”