B2B Payments

Xero Partners With Coveo On Improved Search Function For SMB Needs

Global small business program Xero‘s new search function will make it easier for businesses to find the apps they need, and to provide a “personalized, intuitive, and efficient experience,” according to a press release Thursday (June 4).

The new search function, powered by Coveo, will allow for suggestions to pop up when one logs in, and it will provide a custom influx of popular apps and quick links tailored to individual businesses. Coveo’s recommendations app uses machine learning to suggest apps and websites based on a business’ profile when logged in.

According to Nick Houldsworth, executive general manager of ecosystem with Xero, the search function has seen a 50 percent spike in the number of searches for cash-flow apps between February and April of this year.

“We’re passionate about getting apps into the hands of more small businesses, with those that connect to apps more likely to see increased revenue and greater business efficiency,” he said, according to the press release.

Coveo also powers the Xero Central search, which serves as a one-stop shop for accountants, bookkeepers and small businesses. Xero said that, with the new search function, all of these things together will work to provide an integrated experience for businesses.

The press release touts Xero’s abilities to work with small businesses to move their sales online, coordinate staff and put projects together using its new search function.

Houldsworth said the updated system “not only improves the journey for time-poor small businesses, but enables us to consistently evolve our offering.”

Xero has recently also partnered with Transferwise, a U.K. payments startup, in order to provide small businesses with a new toolkit to adapt to the post-pandemic world.

The tools will encompass aid with revenue, profit and cash flow, comparing numbers from different time periods and paying bills in a more efficient manner, getting paid faster and keeping track of funding better.

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New PYMNTS Report: Preventing Financial Crimes Playbook – July 2020 

Call it the great tug-of-war. Fraudsters are teaming up to form elaborate rings that work in sync to launch account takeovers. Chris Tremont, EVP at Radius Bank, tells PYMNTS that financial institutions (FIs) can beat such highly organized fraudsters at their own game. In the July 2020 Preventing Financial Crimes Playbook, Tremont lays out how.

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