Running the finances of your business can be hard work. We know that.
It’s easy to feel like you’re drowning in admin and that you’re losing control over your business. Sometimes it can even feel like the business is controlling you, rather than the other way round.
But there is an answer to this problem: by combining cloud software with a proactive approach to managing your numbers you can put yourself back in the driving seat again.
Xero helps you get back in control of your numbers
We have found – by using it with our clients and seeing their response and business improvements – that
is the foundation stone for your financial management.
And by putting Xero at the centre of your finance system you’ll soon be back on top of those key numbers.
Here’s why Xero gives you back that control:
- Work in the cloud – Xero is based in the cloud, so you can work straight from your web browser from any device, with all your data automatically backed up.
- Instant access to real-time data – Access your important business information at any time, 24 hours a day. So you’ve always got the most up-to-date numbers to hand.
- Get rid of paperwork – Scan all your documents and save them as files directly in Xero. Attach receipts to expense claims or supplier invoices to payments, so your paperwork is always accessible.
- Be better informed – with real-time numbers and clear, insightful reporting on sales and cash flow at your fingertips, you’re much better placed to make those big business decisions.
- Make invoicing easy – Xero offers online invoicing and payment. So forget about posting out paper invoices and just email your bill straight to the customer.
- Get paid quicker – The sooner your customer has that invoice, the sooner you’ll get paid – which is a huge benefit for your cash flow and ageing debts. Xero gives you a great view of those outstanding debts, which makes chasing up payments much easier.
- Be mobile – The Xero Touch app gives you the key features of Xero from your mobile device or smartphone. So you can send invoices to customers while on the move or check your balances straight from your phone.
- Collaborate more easily with your advisers – Invite your advisers to access your Xero accounts and work together with a real-time view of the same data and business information.
Xero add-ons: the key to a totally tailored business system
The underlying benefits of Xero are central to turning around the financial health of your business.
You get a hugely improved view of the current state of your finances. And you also streamline your bookkeeping, invoicing and debtor tracking processes – saving you huge amounts of time in financial admin.
But this is just the starting point. Xero is a terrific system in its own right, but there’s a whole range of Xero add-ons (like plug-ins) that add different business functions to your system.
There are add-ons that deal with:
- CRM data
- Point of Sale systems
- Payment gateways
- Stocktaking tools
- Data management
- Reporting and financial intelligence
There are a myriad of other options from the 400+ plug-ins that feature in the Xero add-on Marketplace, covering every aspect of running your business.
And this plethora of choices means you can choose a combination of add-ons to create a completely bespoke system – a system that’s totally tailored to your company, your sector or your industry.
The Xero Trifecta: 3 steps to business nirvana
But where do you start with such a huge amount of choice when it comes to Xero and the available add-ons? We’ve narrowed things down to three key business tools that have the capacity to revolutionise how you run your finances.
The ‘Xero Trifecta’ is a three-pronged approach to financial management. With Xero at the centre of the system, we’ve chosen the three Xero add-ons and tools that will put you back in control of your numbers – and turn around the fortunes of your company as a whole.
- Receipt Bank: a new approach to bookkeeping and data entry – Scan all your receipts and paperwork and Receipt Bank pulls the data straight into Xero, saving you hours in tedious data-entry.
- Spotlight Reporting: insightful reporting and financial intelligence – Spotlight opens your eyes to the true detail in your business numbers. You get clear, visual ways of viewing your numbers, performance and KPIs.
- Chaser: chase those debts and boost your cash flow – Using our debtor tracking expertise, combined with the excellent Chaser Xero Add-on, we will chase your outstanding invoices so you don’t have to.
The Xero Trifecta is the icing on your Xero cake. With Xero as your financial workhorse, and Receipt Bank, Spotlight Reporting and Chaser doing even more of the heavy lifting, you’ll soon start seeing the benefits.
Business advice is about more than just the numbers
We are accountants, of course, so your financial data will always be important to us. But good business advice is about more than just delivering the numbers – we want to help you with bigger things, like strategy, long-term planning and access to funding.
The Xero Trifecta delivers all the key business information in one handy system. That means we’re ideally placed to then start reviewing and analysing your data to help you push your business forward. And that process starts by asking some big questions about your business.
Are there underlying issues affecting your cash flow?
- Do you have a workable strategy for improving your profits over time?
- Are you spending too much on development, without bringing in the required revenue to cover your costs?
- Are you spending too much on payroll, when a smaller team might be more effective?
We’re committed to helping you grow, make more profits and prosper as a business. Our years of experience give us the commercial know-how you need when making important business decisions. We’ll sit down with you to create a workable plan for growth, and will work with you to deliver on that strategy.
And, of course, Xero and the Xero Trifecta will be at the centre of this plan.
Are you keen to get back in control of your business finances? Find out more about Tyrrell & Co and Xero