Xero makes first move towards automated accounting

The chief executive of listed accounting software business Xero has claimed machine learning-based automation will be a bigger change than the advent of cloud computing, as it starts to offer options to automate accounting tasks.

Xero boss Rod Drury said the company would unveil a new feature to its software this week which would automate the coding of invoices and bank transactions for its small business customers, work that has been conducted personally by business owners or accountants until now.

Read the full story at the Australian Financial Review.

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