Issue 09

What does Xero’s no-code accounting mean for your firm?

What does Xero’s no-code accounting mean for your firm - Ryan Lazanis

At Xerocon in San Francisco back in August 2016, Rod Drury introduced the concept of no-code accounting during his keynote. He then later expanded on this at Xerocon South earlier in September.
Xero’s goal: To eliminate coding completely.
The switch to AWS earlier this year meant that Xero could now apply far stronger machine learning algorithms to their product, where, according to Xero, up to 90% of all transactions could be coded automatically, without the need for any human intervention. And this is making several accountants and bookkeepers nervous.
But should it?
Depends on which side of the fence you sit on…

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About the author

Ryan Lazanis, CPA, CA, Founder, Xen Accounting

Ryan is not your typical accountant. Destined to bring the traditional accounting firm into today’s modern era, Ryan founded Xen Accounting, a completely cloud-based, 100% paperless Canadian accounting firm which combines online accredited accountants with innovative software. His belief is that today’s technology can make accounting for small business easier and less painful.
A tech enthusiast at heart, Ryan enjoys leveraging new technologies to help modern day business owners streamline and automate their accounting. As the founder of one of the first 100% online accounting firms in Canada, Ryan has emerged as a thought leader in the space of how to building a modern firm in the digital age, speaking at various events across North America.
Passionate about disruptive technologies in general, Ryan also became immersed in the world of Bitcoin in 2013 and helped Xen Accounting become the first professional accounting firm in North America to accept Bitcoins as payment.
When he’s not busy with accounting or tech gadgets, Ryan has been known to be an active DJ in Montreal and enjoys travelling to places that are hard to pronounce.