Last week, several members of the Kiwitax team had the opportunity to attend the Xero Roadshow, an event that delivered both exciting innovations and valuable insights for the accounting industry.
Xero’s AI Innovation – JAX (Just Ask Xero)
We were very intrigued about the introduction of Xero’s latest AI tool, JAX, currently in beta. JAX promises to streamline basic administrative tasks, such as amending quotes and invoices, and will deliver personalised insights, freeing up time for business owners to focus on what truly matters—growing their businesses. This tool exemplifies how technology can enhance efficiency, reducing the burden of routine tasks and enabling professionals to dedicate more time to strategic initiatives.
Many business owners are time poor and hate those administrative tasks so we can see this tool being a very attractive solution to our clients. However, there is a risk that indiscriminate implementation of AI tools could lead to the reduction of quality of service and missed opportunities to nurture client relationships. A balance of using the AI tools behind the scenes and putting a personal touch on the public facing tasks/communication, is a wise approach.
Attracting the Next Generation of Accountants
A crucial discussion at the roadshow revolved around the challenge of attracting new talent to the accounting industry. The insights shared were eye-opening and likely apply across various industries, not just accounting. Today’s young professionals are looking for more than just a job—they seek:
- Great culture & wellbeing
- Clear career progression
- Mentorship
- Training beyond compliance
- Opportunity to develop diverse skills
- Flexibility & remote working
- Access/training in digital tools
To remain competitive and appealing to the next generation, businesses should consider evolving to meet these expectations. The industry’s future depends on our ability to adapt and present accounting as a dynamic and fulfilling career path.
Inspiration from Keynote Speaker Nerolie Curran
The highlight of the event was an inspiring keynote by Nerolie Curran from Propel Performance Group. Her session was a powerful reminder of the importance of living purposefully and taking charge of our mental and physical states.
Nerolie shared actionable tips, including:
- Mindset: Be mindful of your thoughts, as your mindset influences how you interact with the world. Catch and shift your mindset early if needed.
- Language: The words we use have the power to shape our state and impact those around us. Choosing our words carefully can lead to more effective communication and stronger relationships.
- Physiology: Our physical state plays a crucial role in our mental well-being. By making simple adjustments, we can release the right chemicals to boost our mood and productivity.
One of Nerolie’s key messages was the importance of asking ourselves better questions to ensure we are living purposefully. As she put it, “The quality of our life is shaped by the quality of the questions we ask ourselves.” By regularly reflecting the following key questions, we can gain clarity and purpose in both our personal and professional lives.
- Where am I going?
- What’s in my way?
- How am I going to get around it?
- Why is it worth fighting for?
Looking Ahead
The Xero Roadshow was a great experience, offering the team valuable professional development, industry insights and information on the latest tools to help our clients. At Kiwitax, we’re eager to implement these and continue evolving to better serve our clients.
If you have any questions regarding the content of this article, let’s chat!
About Kiwitax – Award winning business improvement, tax and accounting service
Here’s the thing. As a business, rental property owner or start-up, you get a kick out of having your own gig. But chances are dealing with your tax and accounting leaves you cold. Good news! We love it, so hand it over to Kiwitax and we’ll look after it all for you.
Whether you deal with us online, by phone or drop into our Napier office, you’ll find a friendly, professional hardworking team ready to work with you, however you keep track of your financial information and from wherever you do business. And all for a fixed price. It takes just two minutes to get a quote.
Plus if you’re at a loss to know how to improve aspects of your business – from growth planning to cashflow management, even tax debt and so much more – we’re all over that too. Our Business Improvement advisors can help you make a plan and put it into action.
