Today, Xero announced the availability of improved financial reporting tools for small businesses and their advisors across Canada. PwC Canada’s Cashflow Coach is now available for the Canadian market on the Xero app marketplace to help small business owners and startups take control of their cash flow management challenges.
Cash flow is the life blood of any business, and it’s an area where many small businesses are feeling vulnerable with today’s economic uncertainty. Maintaining a healthy cash flow can make all the difference, and we’re proud to provide small businesses with a variety of options. This includes Xero’s financial reporting tools and the Cashflow Coach app so business owners can feel confident about their financial position. It also means they can take early action and make the right decisions for their business.
PwC Canada’s Cashflow Coach + Xero
PwC Canada’s Cashflow Coach, when connected to the Xero cloud accounting ledger, provides a real-time view of cash flow up to six weeks ahead. The tool is currently available for free to Xero customers.
Cashflow Coach applies machine learning algorithms to analyze business transaction patterns from historic data relating to customers, suppliers and bank records in Xero. After understanding customer and supplier behaviours, Cashflow Coach can help predict cash balances over the next six weeks. This allows business owners to have visibility of the cash coming in and going out of their business. This empowers business owners to better understand their ability to pay staff, bills and debts. It also helps them to make more informed decisions when running their business.
“Canadian small business owners are under immense pressure today and need tools to assist with the challenges their businesses are facing,” said Michael Dingle, Ventures Leader at PwC Canada. “Cashflow Coach provides guidance to Canadian small businesses so they can understand their business’ performance and gain the clarity they need to push through the current market adversity.”
Cashflow Coach has been available for Xero customers in New Zealand and the U.K. Extending the PwC Canada and Xero relationship further strengthens Xero’s commitment to Canada’s accounting industry.
PwC Canada’s Cashflow Coach joins Xero’s app marketplace, which features more than 800 third-party apps that help small businesses and their advisors seamlessly run their business and address their unique needs.
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