Piloting Business Snapshot – a new way to see key business metrics

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Anna Curzon, Xero’s Chief Product Officer, announced today at Xerocon London that the Business Snapshot pilot will begin soon. This new feature gives small business customers and their advisors a simple way to see how their business is doing based on a number of key measures. The data all exists in Xero, and Business Snapshot will gather, calculate, organise, and display the figures and insights on one page.

Every business owner wants to know, ‘How is my business doing?’. Business Snapshot is designed to make the regular conversations on this topic between advisors and small businesses both simple and satisfying. Information is presented in a visual way, making it easy for advisors to explain and for small businesses to understand how their business is performing. This enables advisors to start a deeper conversation and educate clients.

Created with advisors in mind, Business Snapshot displays a dashboard-style report of business performance measures and comparisons with previous periods. It condenses and simplifies key financial metrics like year-on-year revenue, cost of goods sold, and debtor days into a series of charts, tables, and at-a-glance figures. It’s all on one page to give a high-level view of how the business is performing.

A better view of business performance indicators

Business Snapshot is part of a broader suite of work Xero is doing to help small businesses thrive by combining smart insights and simple tools. In September, Xero announced a short-term cash flow pilot that gives small businesses a 30-day view of the money due to come in and go out of the business. It enables owners to make decisions on payments and bills based on the amount of cash they expect to have in the bank. Business Snapshot is the next stage and provides all-important context for understanding the relationship between cashflow and profit. Both tools are built with the needs of small business owners in mind, and the support of advisors will ensure businesses get the most value from them.

Get involved now

We’re moving into the pilot phase of Business Snapshot very soon, and we’d love for you to join us on the journey. Please register your interest in participating in the pilot here, and we’ll be in touch in early 2020 with more details.

We look forward to learning what works well and what needs tweaking, and releasing the Business Snapshot feature soon.

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