News Pulse for September 12, 2016

A daily download of SME, startup, fintech and tax news from around Australia.

Incubators ‘must produce results’

Two of the nation’s most seasoned and respected technology investors have delivered a wake-up call to the local sector, warning that the growing number of firms nurturing start-ups must produce quality companies that generate strong revenues and employment.

Daniel Petre and Craig Blair, who together have built almost 25 technology businesses over the past 15 years, said they were excited by the prospect of more than $1 billion in venture capital being raised this year by funds looking to invest in local and international start-ups.

Xero will now let you do your accounting in Facebook Messenger

Accounting software provider Xero is now allowing businesses to query their books through Facebook Messenger.

The company announced the new Hey Xero feature Friday morning Australian time at the Xerocon South conference in Brisbane.

Xero unveils chatbot

Cloud accounting software firm Xero is joining the chatbot craze, unveiling a new Facebook Messenger bot to help link small businesses with accountants and add-on partners.

CEO Rod Drury said the Hey Xero chatbot, shown of at the company’s Xerocon conference in Brisbane, would link users up with the Xero Advisor Directory and recommend them a suitable accountant or bookkeeper in their area.

Xero announces artificial intelligence helpers

The cloud accounting provider is set to launch AI tools that will reduce transaction coding, provide real-time contact information and offer business advice.

Xero co-founder Rod Drury has unveiled a major push into machine learning technology, including the release of a Facebook Messenger chatbot that will provide business advice.

During a keynote speech at the company’s Xerocon South conference in Brisbane today, Drury also announced the company will use machine learning technology to automate the process of coding invoice transactions.

Donors linked to tax havens condemned by Dastyari

Over the past year NSW Labor Senator Sam Dastyari has built a substantial profile campaigning against multinational tax avoidance and freely accusing businesses and political opponents of profiting from “rorts” and immoral behaviour.

But a Fairfax Media investigation has revealed several owners of the Top Education Institute which made the $1600 gift that forced Senator Dastyari to resign from the frontbench have incorporated companies in some of the world’s most notorious tax havens condemned by Senator Dastyari.

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