What is Xero and how does it work?

Xero is a cloud-based accounting software platform designed for small to medium-sized businesses, serving over 4.4 million subscribers across 180+ countries. As a pioneering SaaS platform, Xero revolutionized traditional accounting by providing real-time financial visibility through automated bank feeds, invoice management, and expense tracking—all accessible from any device with internet connectivity.

The platform operates on a robust API infrastructure, enabling seamless integration with over 1,000 third-party applications. Its core functionality includes automated bank reconciliation, multi-currency support, comprehensive financial reporting, and collaborative features that allow multiple users to access accounts simultaneously.

Benefits of Integrating Xero with Abacum

The Xero-Abacum integration bridges operational accounting with strategic financial planning, enabling businesses to leverage their real-time accounting data for sophisticated FP&A capabilities.

• Automate data synchronization between Xero's accounting records and Abacum's planning platform, eliminating manual exports and reducing errors by 75%

• Access real-time financial data from balance sheets, P&L statements, and journal entries directly within Abacum for instant budget vs. actual analysis

• Build dynamic forecasts using live transaction data from Xero, enabling scenario modeling based on current financial position

• Create unified reporting that combines historical accounting data with forward-looking projections in interactive dashboards

• Streamline month-end processes by automatically pulling reconciled data from Xero into planning models and variance reports

• Enable collaborative budgeting with stakeholders using accurate, up-to-date financial information from your trusted accounting system

• Scale financial operations efficiently by connecting Xero's automated bookkeeping with Abacum's AI-powered analytics and forecasting tools