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Xero Focusing on Basics

 Xero is narrowing its product focus to its basic functions. The cloud software company will concentrate on core accounting, payroll and payments, Diya Jolly chief product and technology officer said at the company’s recent Xerocon conference.

That means especially strengthening its accounting software.  “We need to close key gaps in core accounting in the U.S. and Canada,” Cassidy said during her keynote, but added, “We have made a tremendous amount of progress.”

It also means relying more on third party software developers for extending functionality. We will leverage our ecosystem,” Jolly said.

Xero has work especially hard on expanding the number of direct bank feeds, Jolly said. In the last 18 months, Xero has gone from offering 20 direct feeds to 700 and it intends to add hundreds more feeds over the next year, along with working with multiple aggregators. 

Xero is also making it easier to report bank feed disruptions. A beta test is enabling those who believe they have experienced a disruption by press a button within Xero. “We will investigate the disruption immediately,” she said.

In addition, it added bank reconciliation to a period feature which enables users to more easily identify discrepancies between bank statements and entries in Xero.

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