MYOB and Xero face competition for their accounting tools from National Australia Bank, which is using artificial intelligence to create a rival focused on sole traders.
NAB Bookkeeper is an entry for the bank into the small business software market dominated by the cloud accounting giants. The software uses machine learning to help small traders automate administrative tasks, such as invoicing and managing cash flow.
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James Eyers writes on banking, payments and fintech. He is a former legal and investment banking editor at the AFR, has degrees in commerce and law from UNSW, and is co-author of Buy now, pay later: The extraordinary story of Afterpay Connect with James on Twitter. Email James at jeyers@afr.com.au
