Thursday, 07 May 2015 13:19

Xero launches conversion service for BankLink customers

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Accounting software provider Xero has launched a new conversion service which it says helps BankLink customers more quickly transition from older software to its cloud accounting software.

Xero says its new conversion service will provide a free tool to convert existing BankLink files across to Xero, and guide accountants through the process of converting their clients. It comes in addition to the MYOB-to-Xero conversion tool, which Xero indefinitely extended last year for thousands of accountants and bookkeepers.

Chris Ridd, Xero Australia Managing Director said the company offers bank feeds to dozens of Australian banks and financial institutions, with daily updates allowing small businesses to see their cashflow and bank account information directly from within their accounting dashboard.

“The vast majority of our customers have linked their bank accounts to their accounting dashboard, so we know it’s an indispensable tool for them.

“We’ve seen more than 15,000 BankLink customers across Australia and New Zealand make the transition across to Xero in recent months, so we decided to offer a conversion service that would make that quicker and easier to do.”

According to Ridd, Xero now has more than 203,000 paying customers in Australia and, of the new customers who join Xero, more than two-thirds come from other accounting software, including MYOB and BankLink.

Ridd said Xero has been working to make bank feeds smarter and more efficient,. Last month, it announced a partnership with National Australia Bank to enable the industry’s “first automatic bank feeds”, using the new Application Programming Interfaces (APIs) between Xero and NAB.

Ridd said the automatic bank feeds with NAB, which will be made available later this month, instantly connect bank accounts to the Xero accounting dashboard, and opens new possibilities for Xero and NAB customers to automate banking processes.

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Peter Dinham

Peter Dinham is a co-founder of iTWire and a 35-year veteran journalist and corporate communications consultant. He has worked as a journalist in all forms of media – newspapers/magazines, radio, television, press agency and now, online – including with the Canberra Times, The Examiner (Tasmania), the ABC and AAP-Reuters. As a freelance journalist he also had articles published in Australian and overseas magazines. He worked in the corporate communications/public relations sector, in-house with an airline, and as a senior executive in Australia of the world’s largest communications consultancy, Burson-Marsteller. He also ran his own communications consultancy and was a co-founder in Australia of the global photographic agency, the Image Bank (now Getty Images).

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