Xero partners with Coveo to empower small businesses with machine learning
Xero has partnered with Coveo to empower small businesses with new functionality on its app marketplace search, powered by machine learning.
Coveo is an enterprise SaaS platform that is driven to help small businesses to find the right apps to suit their needs.
Xero’s app marketplace connects to more than 800 third party apps. The new capabilities provide suggestions based on a small business profile when they are logged into Xero, as well as an improved search toolbar with popular apps and quick links.
The new search functionality is enabled by Coveo’s recommendations engine, which uses machine learning to understand what apps will best suit a small business based on the information they have input.
Xero executive GM of Ecosystem Nick Houldsworth says, “We’re passionate about getting apps into the hands of more small businesses, with those that connect to apps more likely to see increased revenue and greater business efficiency.
“We’ve seen a 50% increase in people searching for cash flow apps from February to April this year, so we know making it easy to access the right technology is more important than ever.”
Xero has an established relationship with Coveo, which also powers the search on Xero Central a one-stop support resource for small businesses, accountants and bookkeepers means Xero will be able to offer users a more connected experience.
According to Xero, it will eventually enable customers to view Xero support articles in app marketplace searches, and app marketplace recommendations in Xero Central.
Coveo CEO and chairman Louis Tetu says, “Creating intelligent experiences like Xeros app marketplace and Xero Central are critical to compete in today’s experience economy.
"Digital leaders run on data and AI to create the relevant, unified experiences their customers expect - while adding real business value. Few companies understand that better than Xero.
“Whether a small business is looking to move sales online, coordinate staff or manage projects, Xero’s app marketplace features an array of third-party apps to help with their unique industry and business administration challenges.”
“Tapping into smart insights through machine learning, not only improves the journey for time-poor small businesses, but enables us to consistently evolve our offering to provide beautiful experiences for our customers,” Houldsworth says.
The announcement follows Xero being named as a worldwide leader in the IDC MarketScape: Worldwide SaaS and Cloud-Enabled Small Business Finance and Accounting Applications 2020 Vendor Assessment.
In this report, Xero's strategy, product offerings and customer service were key criteria assessed by the IDC MarketScape, which noted Xero’s open API strategy, machine learning for code-free accounting and ecosystem of 800+ third-party apps providing valuable access to point solutions as key strengths.