FEATURE
ACCOUNTANCY SERVICES
Helping SMEs prosper by thriving through digital change
By Martin Gadsby (pictured), Partner and Head of Cloud Accounting at Smith Cooper
Thinking of growing your business but don’t know where to start? Financial planning, strategic operations and internal systems form key components in the overall performance of a business, and it’s vital that these are consistently reviewed. With so much to keep track of, it can be overwhelming. But having the
right software in place can provide you with the best foundations to encourage and nurture growth, helping you determine your main sources of return and where opportunities and costs arise. But is there a one-stop- shop that can do all of this? Enter Xero. Xero is an ideal solution for SMEs, thanks to its simplistic and intuitive
functions in an ever increasing digital world – and with SMEs driving Britain’s economy, representing 60% of UK GDP, it is more important than ever that they have the right solutions in place to not only thrive though digital change, but function at optimal efficiency, with the support of their advisers, suppliers and customers.
SO, WHAT EXACTLY IS XERO, AND WHAT DOES IT DO? Put simply, Xero is a cloud-based accounting software. It’s a really intuitive tool that helps you navigate your business’s finances by managing everything from invoicing to payroll, bookkeeping to bank reconciliations, streamlining time consuming admin tasks so that you have more time to invest in your business. It is best suited for small to medium sized businesses and comes with all
the time-saving tools that you need to grow or develop your business operations, making accounting processes more efficient and simpler. Xero is also great for reducing manual data entry, improving accuracy and assuring compliance.
74 business network February 2020
HOW WILL XERO HELP MY BUSINESS? Digitising internal accounting systems has become less of a luxury and more of a necessity for businesses in recent years, helping owners take control of their finances so that they can invest their valuable time and resources into what they do best. Xero helps you
understand and manage the performance of your business, by providing crucial financial information in the palm of your hand, all in real time. The valuable insights that Xero provides can help form the basis of many
short and long-term business decisions, based on tangible and easily accessible data that is accurate, dependable and completely automated, working behind the scenes 24/7. And with over 800+ third party apps, Xero can be a fully bespoke, fully
integrated solution for any business, automating arduous, manual data entry processes, to capture and submit data, while processing and extracting the information, making internal processes much more efficient.
THE FUTURE OF XERO Xero has recently ramped up its features and apps, intended to save businesses time and money, equipping them with the skills and tools to take their operations to the next level.
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