Choosing the right software for your company can have a significant impact on your financial health. Do you want to buy software that you will manage or would you like to outsource the whole process? Should you go with a platform that is trusted by businesses throughout Ireland? The decision may not be so simple as it seems.
Like with any other piece of cloud-based software you need to be able to trust your software partners and know that they have the required experience to meet your business’ needs. Cloud-based platforms are a perfect solution for small businesses that want to grow without the burden of high capital expenditure. Cloud-based platforms offer a lot of benefits for the small business owner. They can cut down on costs by not paying for hardware and software upgrades, they can easily scale up their business when they need to, and they have access to more advanced features than what is offered in traditional accounting solutions.
Finance Management for SMEs Ireland – Why Xero?
Xero is the ideal software for small to medium business enterprises (SMEs) in Ireland. It offers tremendous opportunities for businesses of all sizes to increase efficiency and reduce wasted time and resources.
Xero is a cloud-based accounting software designed to make your accounting life easier. It does this by automating many of the normal business processes and making bookkeeping much simpler. With its app store of over 1,000 compatible applications Xero allows you to spend time in the core aspects of your business as well as giving your clients a better customer experience.
Small businesses have a lot of work to do. They need to find the right accounting software, keep track of their finances, manage their inventory and a whole lot more. It is not easy for them to find the time to learn how to use complicated accounting software. That is why most small business owners choose Xero because it is easy to learn and use.
It’s available for all your devices so you can access it anywhere, anytime!
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What makes Xero different from competing products?
- It helps cashflow: You can send invoices immediately and Xero makes it easier for customers to view their invoices online and pay for them directly in multiple ways but most importantly pay on time. It also allows you to set up automated updates and reminders for those who haven’t paid on time. This can help eliminate ‘cash flow surprises’.
- Compliance: Because it is automated and templated for each individual company, it helps to stay on top of compliance issues such as VAT thus avoiding large tax bills and penalties.
- Improves efficiency: It allows you to save time by automating recurring tasks
- Recurring payments: You can set up any payments on a recurring basis so there is no need to manually enter transactions into the software every week or month thereby eliminating the chances of errors in the invoice or omitting the invoice altogether.
Better financial Data for Irish Business
One of the real fears that companies have in regard to their financial data is its safety and Xero ticks that box with multiple layers of security. It also controls the level of access that everybody in the company has and because the system backs up automatically, there is never a fear of losing your data.
The simplicity of Xero allows businesses of all sizes across all industries to use it in a way that suits them best – whether that is as simple as an online invoicing system, or something much more complex involving market data analysis or ecommerce platforms like Shopify or WooCommerce which can now be linked directly to your Xero platform.
That is especially important given the way so many businesses are now transferring and transforming their online offerings. The fact that it has a mobile app means you can complete all the tasks you would carry out at your desk, even while you have slipped out for a coffee!
It also allows businesses with limited IT skills and budgets to gain access to a comprehensive tool that will grow into something much bigger for them in the future. As many business owners do not have recognized accounting qualifications, Xero allows them to manage their financial data easily and as a result their financial health with ease.
Xero is an intuitive and easy-to-use platform with a range of reports and functions that allows business owners to see how their business is performing on a week-to-week basis . 65% of businesses that use xero, typically make considerable savings annually.
Xero often gets compared to QuickBooks or Sage, two products that are highly regarded by many people as a good option for small business owners. However, from our experience, having used a range of other accounting software and have chosen to stick with Xero for its ease of use for our clients. Xero is a cloud-based accounting software that provides a simple and effective way to manage all your finances. Built for the social and mobile world, it offers secure and easy access on the go.
