Xero: Rolls out bank reconciliation predictions
- Xero is a cloud-based accounting software platform for small businesses with over 2.7 million subscribers globally
- Announced a significant milestone in its AI strategy with the roll-out of new bank reconciliation predictions
- The predictions feature brings a new application of AI into the platform, reducing manual data entry and saving businesses time
- The new feature uses machine learning to predict the contact and account code for transactions
- Previously, businesses had to manually enter new contacts or account codes to reconcile these transactions
- Bank reconciliation predictions adds to a growing portfolio AI-enabled product features, most recently Analytics Plus
