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He added that Xero (which is hosted in a data centre in Texas, in the US) is currently able to take bank feeds from the ANZ, NAB and Commonwealth Bank and integrate those directly into the accounting systems to provide businesses with automatic real time updates of their financial situation. It does not yet have a facility to take Westpac or St George data feeds however.

According to Nick Reade, ANZ general manager small business; 'We know that managing cash flow is one of the main issues for small businesses. The integration of Xero's software provides our customers with a simple and convenient solution to manage their cash flow and provide greater transparency around trading performance.'

Drury said Xero was working with Yodlee, an online banking aggregator, and from July would be able to accept feeds from a much wider range of financial services providers including some of the smaller financial institutions in Australia.

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Beverley Head

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Beverley Head is a Sydney-based freelance writer who specialises in exploring how and why technology changes everything - society, business, government, education, health. Beverley started writing about the business of technology in London in 1983 before moving to Australia in 1986. She was the technology editor of the Financial Review for almost a decade, and then became the newspaper's features editor before embarking on a freelance career, during which time she has written on a broad array of technology related topics for the Sydney Morning Herald, Age, Boss, BRW, Banking Day, Campus Review, Education Review, Insite and Government Technology Review. Beverley holds a degree in Metallurgy and the Science of Materials from Oxford University and a deep affection for things which are shaken not stirred.

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