Xero’s Advisor Directory was built to help small businesses find a Xero certified accountant or bookkeeper in the same city or region. As the COVID-19 pandemic has changed the way businesses and accounting and bookkeeping firms think about how and where they work, Xero has evolved the Advisor Directory to include a new matchmaking tool to make it easier for small businesses to find the right advisor. It takes into account industry, business maturity and regional ambitions, not just their physical location.

While businesses can still use the Advisor Directory to search by location, the new tool will give those who sign up a tailored list of potential individual advisors, curated by Xero’s matchmaking algorithms. Once connected, advisors can focus on providing small businesses with the professional advice they need to bolster their cash flow, build on new financial opportunities and find the right business and technology tools to operate effectively.

Professional advice from accountants or bookkeepers is often one of the biggest factors in the success or failure of a business. During the past 12 months alone, the impact of the pandemic has seen an estimated 26% of small businesses shut their doors according to a global OECD survey.

Yet a Forrester Consulting study commissioned by Xero found just 26% of small business respondents consulted these trusted advisors since the outbreak of COVID-191. Those businesses who thrived in 2020 were most likely to trust advisors compared to those who struggled.

This latest tool in the Advisor Directory, which connects to thousands of accountants and bookkeepers globally, lists individual advisors, and markets their unique expertise and skills to potential clients. By matching small businesses with the right accountant, not just the right firm, the directory is making it easier for accountants to build their practices, demonstrate their unique expertise, and focus on helping their clients grow.

Rachael Powell, Chief Customer Officer at Xero said: “Finding the right advisor is one of the most important decisions a business owner can make, especially if they are looking to grow or make it through tougher periods.” 

“As businesses navigate difficult economic circumstances around the world, we want to make it easier for them to get professional accounting advice based on factors like their location, industry, maturity as a business, and growth ambitions. By using smart technology and enabling a human connection between the two, we believe that we can support deeper and long lasting relationships that allow small businesses to get on with running their business,” Powell added.

[In the US, Xero has partnered with Salesforce to tap into their joined network and help businesses find the right advisor faster.]

It is the latest in a series of product launches that form Xero’s next generation practice vision for accountants and bookkeepers to onboard, collaborate and manage client work in the cloud.