MINDBODY Partners with Xero to Streamline Accounting
Press release: San Luis Obispo, CA — MINDBODY, Inc. (NASDAQ:MB), the leading provider of cloud-based business management software for the wellness services industry, has integrated with Xero, a leading provider of cloud accounting software for small businesses, allowing MINDBODY subscribers in the United States and United Kingdom to sync their sales data with Xero’s accounting solution to further streamline business management.
MINDBODY subscribers in the US and UK – as well as those in Australia and New Zealand where an earlier version of the integration was released in October 2015 – can now transfer their financial sales data from MINDBODY’s business management software into Xero’s accounting platform, saving time spent on manual data entry and improving accuracy. Financial transactions from daily business operations and customer exchanges will sync from MINDBODY into the appropriate account within Xero’s general ledger, helping business owners manage transactions, compile invoices and streamline bank reconciliations, and providing them with real-time visibility into their cash flow. The system’s automatic nightly syncing feature helps ensure that financial data is up to date by start of business each morning.
“The business of wellness is built on relationships,” said Brad Wills, Chief Strategy Officer at MINDBODY. “Our customers often note that financial reporting & 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.”
“We’re seeing cloud technology completely transform entire industries,” said Russ Fujioka, US 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.”
Xero’s cloud accounting software simplifies financials and drives increased efficiency across business operations. Developed to streamline financials for both small business owners and their accounting partners, the system manages all aspects of accounting, from cash flow, invoicing and payments, to payroll and tax. All financial data is stored on the cloud, allowing users to work in the same set of books regardless of location or operating system, and enabling business owners to provide their bookkeepers and accountants with real-time access to their accounts.
MINDBODY, Inc. (NASDAQ: MB) is the leading provider of cloud-based business management software for the wellness services industry and an emerging consumer marketplace, with over 51,000 local business subscribers in over 130 countries and territories. These subscribers provide a variety of wellness services to approximately 28 million active consumers. MINDBODY’s integrated software and payments platform helps business owners in the wellness services industry run, market and build their businesses. MINDBODY also helps consumers more easily evaluate, engage and transact with these businesses, enabling them to live healthier and happier lives. For more information, visit mindbodyonline.com.