MindBody, a provider of cloud-based business management software for the wellness services industry, has integrated with Xero, a cloud accounting software provider for small businesses. This partnership allows MindBody’s subscribers in Australia, New Zealand, the UK, and the U.S. to transfer their financial sales data from MindBody’s business management software into Xero’s accounting platform. This new system is developed for increased efficiency across business operations and streamline financial data for both small business owners and their accounting partners. It also will help business owners manage transactions, compile invoices, and integrate bank reconciliations, providing them with real-time visibility into their cash flow. “The business of wellness is built on relationships,” says Brad Wills, chief strategy officer for MindBody. “Our customers often note that financial reporting and reconciliation can take them several hours each week. This is time they could have spent with their clients. We’re delighted that our integration with Xero can help our customers get this time back by streamlining their accounting processes.”
With Xero’s cloud accounting software, all financial data is stored in the cloud, allowing users to work in the same set of books regardless of location or operating system. This software also enables business owners to provide their bookkeepers and accountants with real-time access to their accounts. Also, the system is equipped with an automatic nightly syncing feature to help ensure that financial data is up-to-date by the start of business each morning. "We're seeing cloud technology completely transform entire industries,” says Russ Fujioka, U.S. president at Xero. “By integrating Xero’s accounting software with MindBody’s business management solution, we’re empowering health and wellness businesses and their accounting partners with the freedom and flexibility to work from anywhere, on any device.”