Xero Asia Roadshow 2024: Accela’s Key Takeaways
The Accela Finance team was thrilled to have The Xero Asia Roadshow 2024 land in our neck of the woods this year. The popular bookkeeping industry event made its debut in Kuala Lumpur, Malaysia, in September. Naturally, we jumped at the chance to attend!
The Roadshow offers business owners, accountants, and bookkeepers a chance to connect with industry experts, exchange valuable insights, and discover new ways to harness Xero’s tools for business growth. Although the event happens annually, this was the first time the spotlight turned to Asia—a testament to the growing importance of this region in the Xero ecosystem.
At Accela Finance, Xero is more than just a tool—it’s a technology we actively use to streamline processes for our clients and our internal finance operations. Xero is a partner, an integral part of how we run things, and an Accela client! So, attending this year’s Asia-focused Xero Roadshow was a must for our team.
Here are our top three takeaways from the inspiring event:
Meet JAX (Just Ask Xero): Your AI-Powered Efficiency
Xero’s upcoming AI assistant, JAX (currently in beta), will be a game-changer for small businesses and finance professionals. It takes care of routine tasks like editing quotes, issuing invoices, and drafting emails, freeing up valuable time. With quick access to real-time insights, JAX simplifies managing financial workflows, allowing businesses to focus on core strategies.New Features: AI-Powered Automation and Cyber Security
Xero’s advancements in AI are not stopping with JAX. New features are launching consistently, shaving hours off of accounting tasks. This includes a tool that allows users to drag and drop purchase invoices, which are automatically read and created as draft bills. However, with great technology comes the need for enhanced security. There was a strong focus on cyber security, highlighting the importance of using hard-to-guess passwords, implementing two-factor authentication (OTPs), and staying vigilant for signs of fraud.Fraud Case: A Stark Reminder of Digital Vigilance
One of the most striking stories shared at the Roadshow was about a Hong Kong multinational hit by a massive fraud scheme:
A finance worker was scammed into transferring $25 million after joining what seemed like a routine video conference. The twist? The entire call was a deepfake, with criminals posing as the CFO and other colleagues. Although the worker initially suspected a phishing attempt, the convincing fake faces and voices on the call erased any doubts.
This chilling scam highlights the growing sophistication of deepfake technology. It underscores the urgent need for team education, vigilance, and updated fraud prevention strategies, even in the most secure corporate environments.
Accela Finance walked away from the Roadshow more committed than ever to staying ahead of the curve in bookkeeping technology.
With the rapid evolution of tools like AI-powered accounting solutions, we're dedicated to ensuring your business is prepared for the future and secure in the present. If you’re ready to streamline your accounting processes or seek expert financial guidance, don’t hesitate to contact us at hello@accela.asia.
