Cloud accounting company, Xero has partnered with Microsoft Corporation (NASDAQ:MSFT) to provide a channel for its users to collect and collate its own big data across Xero’s software and other integrated business software through Microsoft’s Power Business Intelligence (BI).
Xero stated that the integration would visualize data from 25 of the most frequently tracked small business metrics such as return on investment, debtor days, profit loss trend, revenue versus expenses and cash position.
Also, the organization stated that the platform will let small businesses analyze data with more understanding, speed and efficiency. Rod Drury, Xero’s CEO stated that presently business tools are smarter and more connected than before and available to small businesses. He added that the accounting industry operates on Microsoft Office, and they’re happy to integrate further with Microsoft’s Power BI to empower its users with simpler methods to access and analyze data from Xero and enable users to make informed and smart decisions.
Xero said it realizes the potential of big data for small business. It adds that it comprehends the true value of data is in the ability to extract insights and give an accurate picture of the health of the business.
Xero is constantly adopting fresh innovations and opportunities for its small business users and associating with one of the world’s most popular productivity tools for business makes sense.
Now Microsoft Power BI can be accessed by selecting the financial system of record in Xero and coupled with data from other sophisticated inventory systems to surface new insights and save valuable time for its users so they can focus on their customers.
Chief Product Officer of Xero, Angus Norton opined that integration with Office 365 and Microsoft Power BI increases Xero’s usability and reach by permitting small businesses to view Xero’s data along with other vital business data such as Stripe, Zendesk Inc (NYSE:ZEN), Alphabet Inc (NASDAQ:GOOGL) Google Analytics and more.
Xero also announced that it’s associating with Barclays PLC (ADR)(NYSE:BCS) as it tries to further automate small business financial management. Under the new alliance, Barclays will be providing its live bank feed to Xero, joining Silicon Valley Bank, NatWest, Royal Bank of Scotland Group PLC (NYSE:RBS) and Metro Bancorp Inc (NASDAQ:METR).