Yes, Xero is an accounting software, but Xerocon is not just about the apps and tech.

It was great to listen to so many amazing guest speakers and Xero team members sharing valuable insights into where they feel business is heading.

 

Digitisation:

Digital transformation is here to stay and there is huge innovation across not only financial services, but all industries.  Government is also playing a huge role in digitisation so it is vital that businesses continues to embrace digital tools.

Xero’s aim has been to make small business more efficient and effective and innovation remains at the heart of Xero.

3 waves of Xero development:

1. Cloud Accounting – collaboration to be real time advisory. Cloud adoption in Australia and NZ is way ahead of the world.
2. Applications & Services – focus on payroll, getting paid faster, managing inventory, applications eco system. There are over 1000 applications connected to Xero.
3. Trusted Insights – finds trends and next step actions

 

With our ever changing world, businesses should be embracing the software available to us to ensure you have access to real time data, the ability to analyse, forecast and report to assist to make informed decisions about their business. 

Likewise, your accoutant should be keeping up to date to assist you with this process and help select the apps that best fit your business.

 

Ready for a new kind of customer:

Generation Alpha is coming! They:

• are highly opinionated
• demand brand authenticity
• want choice
• exhibit diversity and empathy
• are less patient – want immediate action
• care for the environment
• will be the most educated and wealthiest generation

We as business owners, must be ready to work with and develop relationships with this new type of customer.

68% of businesses say sustainability is important.

We must live into purpose and understand the data so we aren’t left behind.

Businesses need to have diversity, hire people who are smarter than you,  let them do their “thing” and learn from them.

 

Having the right balance:

Guest speaker Kemi Nekvapil, who is a professional and executive coach, spoke about having a balanced life, making decisions that are best for you and not what is the perception of what is best for everyone.

While ‘Work / life balance’ has always been a phrase that has been tossed around, now more than ever it is becoming more vital.

Kemi’s 7 Principals for living a balanced life and feel well within who we are:

1. Body Nourishment – whether it be food, sleep, moving our bodies, it’s about finding the right “fuel” that will help me with what I need to do
2. Self Care (love / regard) – need to look at relationship we give to ourselves
3. Creative Expression – creativity is about enjoying something
4. Joy Creation – joy is one of the hardest emotions to feel. Joy nourishes us as we go through life.  Joy is movement.
5. Elevating Relationships & Communities
6. Living into Passions
7. Purpose & Contribution – what would be most purposeful in this moment / day? Happiest are those of service but not be a sacrifice

You should aim to make small and consistent actions which are tangible and measurable actions.  Balance can mean letting go of something as balance is a moveable feast.

Businesses are more than ever responsible for helping their employees achieve this balance, and those that don’t will fall victim to the great resignation.

 

In summary, my key take aways were:

1. Digitisation is the way of the future and we need to embrace the technology and use it to our advantage
2. Alpha generation – we need to listen to them, they are our future client
3. Embrace diversity and change

Author: Tanya Holtham