Xero has announced the launch of the Xero Responsible Data Use Advisory Council dedicated to educating and empowering small business owners on responsible data use.
The inaugural group of Council members, who come from the small business community and industry experts around the world, will focus on filling a vital education gap that currently exists within the small business community around data sharing and responsible data use.
Highlighting the need for greater understanding of how to use data responsibly, a recent survey of global small business owners commissioned by Xero, found that less than one-quarter (17%) say they understand completely how their tech providers use their business’s data. In addition, more than one-third admit their own customers likely do not fully understand how their business is collecting and using their customer data.
When asked to identify the benefits, if any, of sharing data with tech providers, the most popular answer (36%) was none. The most common concerns about sharing data were: data being sold/shared without permission, data being used in a way that makes them feel uncomfortable, data being stolen or data being used to sell more services/products.
Kendra Vant, Executive General Manager, Data and Chair of the Xero Responsible Data Use Advisory Council, said: “The Council will play an instrumental role in helping small business owners understand the challenges and opportunities that come with sharing, managing and using data. I’m excited to see this group of industry leaders help small business owners formulate deeper understanding and best practices for their own businesses and empower them to be confident in managing data use responsibly with their own customers.”
Rachael Powell, Chief Customer Officer, Xero said: “We can’t underestimate the roles that data and digital technologies continue to play in helping small businesses survive during the pandemic. As we reach a new era of digital connection, it’s essential that companies channel their passion for innovation into setting responsible practices for and how data is utilised.”