10 ways Xero will transform your business

Gaining staying power for your business takes constant evolution and work. You need to be able to ensure that your customers are not only happy but keep coming back. This takes a lot of time and effort, but, is well worth it in order to expand and reach exciting new heights. However, you can’t invest this time if it is all being taken up by administration work. The administration work is incredibly important, so you cannot get rid of it, but you can streamline it. If your business isn’t already on Xero, then you are missing out. Xero holds many benefits that could transform your administration process, streamlining it, providing you with time to invest back into other aspects of your business. Here are 10 ways Xero will transform your business.  

 

  1. Automation 

    Xero is filled with automation features that make those time consuming and repetitive tasks easy. Some useful automation features include Xero’s ability to automatically populate bills from suppliers from emails or PDFs. This small feature can save a tonne of time relieving business owners from the remedial manual task of taking information out of Bill emails and PDFs and into accounting software. These features extend to employee expenses and other financial documents, allowing Xero to read them and populate the correct bills or automatically file a claim to your business.  

    Xero can also automatically learn and approve transaction matches based on bank rules you have applied. This means that you no longer need to manually approve transactions, saving you more time. There is so much more automation that Xero can do for you that will transform your administration process.  

  2. Accuracy 

    Reduce errors by utilising Xero. Errors can be time consuming; you need to ensure that every figure that you have recorded is correct or face consequences from extra work to fines from the ATO. It is important for any business that any changes to their administration process improves accuracy. With its automation and cloud-based security, Xero is extremely accurate allowing you to spend less time worrying and more time improving your business.  

  3. Invoicing 

    Xero makes invoicing easy. It is simple to create professional invoices that are personalised for your business, allowing you to spend less time with excel spreadsheets and spend more time with your customers. If you do have some customers who are lagging in their payments Xero can help you out there too. Simply take advantage of Xero’s automated invoice reminders that will automatically send out to your customers at a time that you have set. Essentially tell Xero how often you want to send out reminders and it will do it for you, easy. There are even more features with invoicing that will save you time.  

  4. Payroll 

    Single touch payroll makes it easier than ever to manage your businesses payroll. You can easily set up timesheets online for your employees to use and Xero will do the rest automatically, meaning you only need to click one button to approve the timesheet and your employees will be paid! It will even file your pay runs with the ATO in a click too. There are so many features that you and your employees can use to make payday a smooth process. It is easy for employees to apply for leave, allowing you to approve the time in one click. You can even see how many hours they have available to them for leave so they cannot abuse the system. Single touch payroll will streamline your payroll processes, reducing that stress headache slightly.  

  5. Easy to navigate 

    Xero was built to be easy to navigate. They proudly exclaim how their software is the most beautiful and easy to use accounting software on the market, and they are right. Little things like navigation make you want to use the software. It feels more powerful and more capable than equivalent software simply because you can easily take advantage of its features. It goes beyond the UI with advanced automation features and simple smart features that make it a dream to use in your business.  

  6. Xero app 

    In an always on the go online world it is important to be able to access your invoices, payroll, billing and more from the very capable computer in your pocket. Xero’s mobile app allows you to keep in the loop with your business no matter where you go. Visiting clients? Easily create an invoice for them and send it to them right from your phone. Employee feeling sick? They can easily apply for sick leave right from their phone. With Xero your business becomes even more connected than ever.  

  7. Cloud Based 

    The Xero app would not be possible if it weren’t for Xero’s cloud-based software suite. There are a lot more benefits that this allows, however. Security is a major benefit. With a cloud-based software suite your data is all stored offsite across multiple servers. This means that if there were to be a robbery or a fire at your business you will not lose any of your precious data. All your data is encrypted and protected by two-step authentication, meaning that only those you allow will be able to access your data.    

  8. Third party integration  

    Xero can integrate perfectly into existing software that you use to manage your business. A good example for this is Shopify. Xero integration allows you to import all orders into Xero automatically removing manual data entry errors. Invoices can easily be created with this data and sent off with a single click. If there are other software platforms that your business uses to manage elements of your business, there is a high chance Xero can enable new features saving you time.  

  9. Constant updates 

    Technology is constantly changing. New breakthroughs in automation, software design, and hardware design transform what we think a computer is capable of. Xero is no different. With constant updates streaming in, Xero’s most loved features continue to become even more powerful every day. Xero also continues to partner with new third parties allowing their app to be integrated in extremely creative and useful ways. For example, a recent partnership with Uber Business has allowed all your business travel expenses from Uber Business to be instantly uploaded into Xero. This provides you with a powerful way of monitoring your travel expenses instantly. 

  10. Better communication with your accountant and bookkeeper 

With Xero being cloud-based software, you can see all the work your accountant and bookkeeper are doing in real time. This provides you with the ability to communicate with your accountant and bookkeeper about your business’s finances at any time without needing a face to face meeting. This increases transparency and trust between accountants, bookkeepers and their clients. If your accountant is not using Xero, then maybe it is time to switch to one who does. 

 

Do you need help in integrating Xero into your business? Contact Link Strategies today.