Most companies want to “work smarter, not harder” and as most business owners know, the best way to do this is through the use of technology. Take Xero for example, an easy-to-use online accounting software for small businesses. They know how important good technology is for small businesses and continue to add features to their software that save time… and money!
This past March, the company announced their new multi-feature launch, which will provide business owners with the capability to manage core business functions such as Inventory, Online Quotes, Side-by-Side Files and Practice Reports.
With it’s access to real-time information from live bank feeds and the ability to work with bookkeepers and accounting advisors, Xero has become a one of the leading accounting apps for small business. Not only has the average duration of invoice payments decreased since 2011, but they are continuing to make enhancements to their software as an ongoing commitment to make life easier for small business owners.
Jacob Wood, Founder of Woodies Clothing, a custom shirt-maker says, “From getting started in Xero—which was simple and fast—to using it to manage my business every day, Xero is always incredibly easy to use and I love the fact that our finances are accessible from any device, I can reconcile the books on my phone while walking to the subway; fire up my laptop at the office to examine our finances and make instant decisions about where and how to scale the business.”
Here are some of the capabilities that will be offered through the new software features:
- Inventory will be much easier to manage. The real-time tracking of stock items and ability to add items easily on to an invoice or online quote will allow businesses to save time while simultaneously improving their cashflow.
- Online Quotes will be able to be created on-the-go, on any device to make it easier and faster to approve quotes on site and online as well as to send and pay invoices in a more timely fashion.
- Practice Reports can be customized to individual clients by adding value to their accounts using real-time data.
- Side-by-Side Files make it easy for accountants to compare financial transactions and store up-to-date records and transactions hassle free.
- Bank Feeds make it easy to reconcile transactions for small business as Xero is already connected to 7,000 bank feeds and over 5,00 financial institutions globally.
With many more features to come, Xero continues to provide a solution for small businesses to make their accounting seem effortless. The software offers businesses the ability to increase productivity while focusing on the success of their business. The addition of online accounting solutions in small businesses are proving to be an effective way to invest less time crunching numbers and spend more time focusing on running and growing your business.