B2B Payments

Xero Launches Android SME Accounting App

Corporations are beginning to eye mobile tools to manage their finances. Even HSBC, one of the world’s largest banks, said that B2B players are poised to adopt mobile tools, and corporate treasurers are demanding more sophisticated management methods.

Digital payments firm Xero is jumping in early to the trend. On Wednesday (Aug. 5) the company said it has rolled out Xero Touch for Android, a way for small business owners to manage their finances regardless of location.

According to the company, the accounting app offers bank account data, invoice and receipt information, payment reconciliation and expense management solutions, all through the Android mobile operating system. The product includes receipt image capture capabilities, allowing users to take a picture of a receipt through their smartphone and upload expenses on the spot.

“Whether a business owner is at work, home or hopping between meetings, they are able to create new invoices, chase overdue invoices or invoice customers without logging in to their computer,” the company said.

Additional information available through the Xero Touch app includes up-to-date, cloud-connected contact information for staff and customers.

“Xero Touch for Android is the ideal mobile companion, designed to provide easy access to important information based on how much our customers work on the go,” said Xero Mobile Product Manager Luke Gumbley, “whether they are on the couch, meeting with a customer or client or even waiting for a plane at the airport.”

A mobile strategy for corporate account management aligns with the growing demand for employees and small business owners to be able to use their personal smartphones for work. In a March interview with PYMNTS, Xero’s U.S. President Russell Fujioka said the company would be working towards the development and launch of more mobile innovations moving forward.

“Accounting software needs to be simple, smart, up-to-date and readily available for business owners anytime and anywhere,” Fujioka said.

 

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NEW PYMNTS STUDY: LEVERAGING THE DIGITAL BANKING SHIFT – SEPTEMBER 2020  

The September 2020 Leveraging The Digital Banking Shift Study, PYMNTS examines consumers’ growing use of online and mobile tools to open and manage accounts as well as the factors that are paramount in building and maintaining trust in the current economic environment. The report is based on a survey of nearly 2,200 account-holding U.S. consumers.

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