KUALA LUMPUR, 21/7/2021 – Xero, the global small business platform, today announced the launch of the first-of-its-kind Xero Responsible Data Use Advisory Council, comprised of experts and thought leaders across the globe dedicated to educating and empowering small business owners on responsible data use.
The Council was founded to underscore Xero’s commitment to using data responsibly and underpins how Xero leverages the data in our small business platform to benefit small businesses and their advisors. The inaugural group of Council members, who come from the small business community and industry experts around the world, will also focus on filling a vital education gap that currently exists within the small business community around data sharing and responsible data use. (See Council members listed below.) Xero will look to add additional Council members as needed in the future.
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.
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