Xero, the global small business platform, has announced the next phase of its integration with Hubdoc — using the technology to supercharge machine learning in the broader Xero platform and rolling out updates that help small businesses deal with expenses and bills faster and more accurately.
New automation technology in Xero Expenses, using advanced machine learning, will speed up the time it takes to submit and transcribe receipts from minutes to seconds. The technology updates go live in mid-November and empower Xero Expenses to extract the relevant information faster and with greater accuracy so employees can quickly submit expenses into the app and check for accuracy. Xero Expenses connects directly to the small business platform, making it easier to reimburse or reconcile expenses against their accounting ledger.
Xero is also bringing one of its most requested features to Hubdoc, with duplicate detection. Starting later this month, Hubdoc will automatically identify and highlight bills and accounts payable documents that have the same supplier, date and amount, and notify users about the duplicates before submitting into Xero, preventing accidental errors and double data entry.
Together, improvements in Xero Expenses and Hubdoc will mean small businesses and their advisors can spend less time on the manual data entry tasks and hours spent collecting and managing bills, expenses and other documents each month, and focus on helping grow their businesses.
“Every minute saved on collecting, transcribing or reconciling documents is valuable time small businesses and their advisors can spend on actually growing their business,” said Anna Curzon, Chief Product Officer, Xero. “We’re constantly looking for ways to help give our small business customers time back in their day, and are proud of the way that the Expense and Hubdoc teams at Xero have created these stepchange improvements.”
The new features are the result of Xero’s continued integration and improvements of Hubdoc and its underlying technology more deeply into the small business platform since acquisition in 2018, making them available to all of Xero’s 2.3 million global subscribers.
“Our data team have made significant strides this year in bolstering our machine learning capabilities on the platform. Though much of it can be invisible to subscribers, these improvements make it easier to find the right insights needed to run and grow their businesses, and we’re just getting started,” said Kendra Vant, Executive General Manager of Data, Xero.”