The small business online accounting platform from Xero will now be the preferred core software used in H&R Block’s Small Business Program suite of services, the two firms announced last week as part of a new strategic alliance.
“Together with H&R Block’s well-known brand and established channel, we’re able to help improve the financial lives of more small businesses by bringing them the latest cutting-edge financial tools,” Xero North America CEO Peter Karpas said in a written statement. “At the same time, we’re joining forces to free business owners from the limitations of 1990s-era accounting software that no longer works the way businesses work today in a 24/7, online, and mobile world.”
H&R Block selected Xero’s software platform after an intensive vetting process, according to Xero. The tax-preparation firm, which has 11,000 locations nationwide, will promote Xero as its recommended small business online accounting solution in locations that sell H&R Block’s Small Business Program suite of services.
This partnership is part of H&R Block's services to small businesses to give them a technological edge with the most modern, cloud-based financial management tools. For Xero, partnering with the well-known tax company gives it the opportunity to increase its brand awareness in the U.S. and expand its marketing and sales channel to more small businesses throughout the country.
According to Xero, its small business online accounting platform is easy to use and simplifies once tedious and complicated accounting tasks, such as bank reconciliation and invoicing. It gives business owners a real-time, up-to-date view of their cash flow and bank balances so they can make smart business decisions on the spot.
User can access the online platform from their preferred mobile device – laptop, tablet, or smartphone – to see their real-time cash flow, create and send invoices, and share and collaborate on financial reports. To meet the specific needs of different businesses and industries, Xero integrates with 300 best-in-class business tools, such as Square for taking mobile payments, Harvest for time tracking, and Bill.com for streamlining payables, billing, and cash flow.