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Data Entry is out…Business Advisory is in !

Data entry is coming up to its used by date….and proactive Business Advisory is on the surge.  That was my take away from the Xero Roadshow in Melbourne today.

As an avid user of Xero I always look forward to the Xero roadshow as I truly believe as a company, Xero spend money in the right direction.  

They are focused on implementing changes within the software that users are requesting, they are bridging the gap between the client and the business advisor and they are streamlining accounting and bookkeeping tasks.

Here is some comments from the Melbourne Xero Roadshow today:

  • Xero is turning a painful task into something delightful.  Their aim is to reduce the time spent on manual data entry so business owners can focus on their business and the business advisor can focus on their value added services
  • Data entry is out….Business Advisory is in.  Due to so many streamlined add on’s and in built features within Xero, clients will soon no longer see the value in pure data entry
  • Business Advisory is about giving value for money – providing insights, reports, interpreting reports, data analysis – and streamlining business owners “financial life”
  • Smart businesses have good advisors, smarter businesses have great Xero advisors
  • Collaboration is the key
  • Xero is about time – efficient processes giving business owners their time back

Of course – these streamlined functions and time savings are only possible with accurate training and advice.  That is where a Xero advisor comes in.  Luckily – I am one and that is the service I offer to my clients.

CLICK HERE to request a free assessment on your Xero data file.

Some exciting developments in the Xero pipeline:

  • The ability to send quotes direct to customers with a URL link.  If the customer accepts the quote online, your Xero data file is automatically updated to reflect this.
  • Global search function – the ability to search for anything within the entire Xero data file.  No need to search just under Sales, or Customers – it will search the entire data file for your word or reference.
  • Inventory module is coming……YIPPEE.  I know so many people who are wanting or should I say needing this.  This will include stock levels, on hand details, average cost, opening balances can be entered and stock adjustments can be done.
  • Business KPI’s – a new business performance dashboard.  This will provide further insight into the operation of the business.  What a value add from an advisor point of view.
  • Fine &  Recode feature.  Fro an accountants point of view this is GOLD.  Gold I tell you.  This will allow us to find errors and make corrections as a whole.  Rather than doing so one by one.  Its these efficiencies that I love about Xero.  Listening to its users, understanding our problems and issues – and finding fixes.

So what are my thoughts on Xero……for certain businesses I think there are valuable streamlined functions that can add hours back into a business owners day.  This is priceless.

Stacey – Healthy Business Finances