The Xero’s Roadshow for 2017 in Brisbane gave some great insights into some of the features that not only already exists, but they will be releasing. We were also able to hear from addon providers who had stalls at the event. The number of addons and apps you can now have either attached to Xero or as separate features is always growing and changing.
Why having an accounting package will improve your business success!
According to ASIC data, after 5 years the success rate of a business is 51%. Who enters into business with the odds of your business not being a success being 49%. You may as well toss a coin to decide if you go into business!
For a business that uses an accounting package, especially cloud software, this dramatically improves to an 88% success rate! The numbers speak for themselves, if you don’t have an accounting package, you are gambling with the success of your business.
Addon for Boosted Benefit
An interesting fact is that only 40% of businesses use an addon connected to their Xero package. While many apps don’t require being connected to your accounting package, businesses could be losing benefits of adding value to their business and clients by not doing so.
The scary thing is some bookkeepers don’t know what addons are out their to recommend to their clients. This means they aren’t even able to offer them the ability to decide if they could benefit from an addon.
As a management accountant, I am constantly looking at ways to not only improve my business, but those of my clients to ultimately improve their ability to make decisions. For this reason I provide clients with software evaluations.
Let’s be honest, as a business owner you want to do what you are good at. You don’t want to be on a computer doing research and being shown through demo’s when it’s not your thing! We can do that for you considering the needs of you, your business, your customers and your suppliers.
New Product- Fixed assets for tax purposes
This is a great new product addition to Xero. For businesses with assets, this will be a great way to keep track of what you do and don’t have. It will also assist with tracking and entering depreciation so you have more accurate reports. I look forward to using this feature for clients!
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