Xero, a New Zealand cloud accounting software provider, has announced a new product soon available for small business billing. Innovation? The software is based on machine learning and Artificial Intelligence to optimize this task.

The solutions in the cloud are multiple. For business professionals, business intelligence tools or virtualized 3D creatives are now commonplace. Computerized financial management providers also land in the cloud.


This is the case of Xero, a fintech company born 10 years ago in 2007. Its software in the cloud is for small businesses to facilitate their billing. The new product is intended to automate the step of choosing the account to be credited or debited . By analyzing the previous elements of the database, the machine learning algorithm will offer small business accountants the corresponding account numbers to bill the customer. This reduces the payment errors and the sorting time of the customer database and payments.

Eliminate payment errors from the Xero platform

According to Xero, testing of its machine learning system has shown significant improvements in the billing process . The problem faced by the 862,000 platform users who had committed 3.1 million billing errors in 18 months to September 2016 had to be resolved . The statistical analysis algorithm now scores well above Xero's experts in assigning the correct payment to the correct account.

The company highlights the fact that the more the tool is used to make payments, the fewer mistakes there are. "The machine learning system succeeds 80% of the time its task from the fourth billing, and from the fiftieth, it maintains a success rate of more than 90%," said spokesman Xero.

The new service will initially be made available to 1000 US customers for two weeks. The beta test phases will continue during the year before the planned commercialization in 2017.

Oracle's revenues soar through the cloud in the last quarter

The Oracle software publisher announced Wednesday its financial results for the third quarter. Immediate effect of the news, its stock market shares climbed 3% in one hour. Recall that the firm had already experienced a 15% increase in one year.

The good reaction of the stock exchanges is easily explained. Oracle reports non-GAAP revenue up $ 9.3 billion, up 2% from the same period a year ago.

Profits reached $ 2.2 billion, or 53 cents per share . That's $ 100 million better than the previous year, which at that time was $ 2.1 billion and 50 cents a share.

Transition in the Cloud No More Than Revenue

The company can rely on the growth of its cloud branch which posted revenues of $ 1.2 billion in the quarter, 62% more in a year . Oracle is pleased with the success of its SaaS and PaaS offerings, which are up 85%, or $ 1.1 billion in non-GAAP revenue.