Small business makes the world go round – it’s the heart of the global economy and Xero wants millions of small businesses to thrive through better tools, information and connections. Started in 2006, this New Zealand based company has grown to more than +2 million subscribers globally because it offers small businesses the opportunity to manage their accounting practices easily and effectively.
Based on software as a service (SaaS), it allows firms to pay only for the software and services they need, instead of downloading complex, proprietorial programs that need experts to run. This kind of access to real-time account information and business tools from their Mac, PC, tablet or phone means greater control and better decisions for Xero users.
Businesses can improve cash flow by getting invoices paid faster on Xero and even accepting payments online, thus being paid up to twice as fast by connecting to payment solutions. Payments can be made in over 160 currencies, with up-to-date exchange rates and instant currency conversions.
Quoting and keeping track of quotes is simplified and is produced ready to email to customers. The intuitive invoicing software allows clients to send invoices from their phone or desktop, as soon as the job is done, with their mobile phone displaying a big green tick to indicate an invoice has been sent.
Inventory control becomes much more manageable, as users can keep track of what is in stock with inventory software, enabling them to populate invoices and orders with items they buy and sell.
Users can track and pay bills on time, get a clear overview of accounts payable and cash flow plus keep track of time, costs and project profitability of each job in progress on their tablet.
In addition to managing internal costs, such as employee payroll records, expense claims, Xero also keeps track of customers and suppliers, offering a full history of sales, emails, invoices and payments and contact details.
The system becomes an online filing system that allows users to manage and share documents, contracts, bills and receipts safely. No more rushing back to the office for vital documents, simply log in from anywhere in the world.
When it comes to the financial year end, Xero clients are able to track their finances with accurate accounting reports, display profit and loss reports, automatically calculate VAT on transactions and prepare VAT and tax returns.
Like all great challenges, Xero does not do it alone, it works closely with customers, Gold partners, such as Grumble, and other friends to push innovation forward, turning Xero into the online business platform for the world.
