LiveFlow, the intelligent finance and accounting solution, has announced a new integration with Xero. The announcement follows on from the successful launch of its integration with QuickBooks Online.
With a Xero integration under its belt, it now has integrations with two of the leading pure cloud-based accounting solutions for the SME market. The LiveFlow integration brings financial planning and analysis, consolidation and advanced reporting capabilities to Xero users.
Anita Koimur, COO and Co-Founder of LiveFlow, commented, “We are thrilled to launch our integration with Xero. This new integration is a direct response to the needs of our customers who have been eagerly awaiting a seamless way to manage their financials within the rapidly growing Xero ecosystem. At LiveFlow, our mission is to make financial reporting effortless. This integration is a significant step towards achieving that goal. We believe this will revolutionize the way businesses and accounting firms approach FP&A and financial consolidation as Xero expands their presents in the United States and beyond.”
What does Liveflow do?
LiveFlow enables Xero users to sync Xero data with over 100 templates in Excel. These templates help finance teams to create usable dashboards quickly. The templates are also customisable and consist of a suite of financial reporting capabilities. These include forecast, P&L, balance sheet, A/P, A/R and cash flow models. Data is synced with Xero on an hourly basis, which ensures that the information is up-to-date for business leaders.
Users can create, edit and move columns and rows within the dashboard without breaking the template. With access to formulas enables users to create their financial models using the data.
The result is that finance and business teams spend less time on reporting and can make decisions faster that really impact the business beneficially.
LiveFlow is also intending to launch multi-entity consolidation. This will enable users to consolidate different businesses hosted on Xero by class and location. The platform will handle over 180 currencies. While Xero natively has some multi-entity capabilities, consolidation is not one of them. When this capability becomes available, many firms will be interested in it. LiveFlow has not revealed when this will be available yet.
Enterprise Times: What does this mean
LiveFlow is good news for QuickBooks and now Xero, as well as its customers. The solution will enable growing firms to stay on both Xero and QuickBooks longer. As it extends the capabilities of the solution into functionality found within midmarket solutions such as NetSuite and Sage Intacct.
LiveFlow was last funded in 2021 by a $3.5 million seed funding round led by Moonfire Ventures with backing from Y Combinator, Seedcamp and WndrCo. With the release of its Xero and QuickBooks integration, which it is still enhancing, one wonders whether it will look to gain further funding as it seeks expansion. Also, will it now look to bring its capabilities to other SME solutions such as Sage?
