The business world is undergoing a paradigm shift with technological advancement. With disruptive technologies around, several cloud accounting software like XERO are making their way into the business world.

XERO has been designed to automate as well as streamline the complex accounting process and offer insightful data further adding value to business operations.

Here are some of the advantages of having XERO software for your business:

Streamlined Financial Operations

XERO comes with an easy interface and makes it easier for the accountant to work with it. This makes the accounting more streamlined and efficient as information can be uploaded automatically. This means the accountant can have quick access to the data they need, ensuring better financial operations and planning. Since, the process becomes more streamlined which means you have more time and resources to divert away from mundane tasks and focus on your areas of core competencies.

Better Management of Payroll and Pensions

Payroll and pension management can be time consuming, taking up all the valuable human hours. With XERO payroll management becomes easier and swifter. The accountants can track, manage and process the payroll and pension via a centralised database. Also, it makes sending payslips and customisable reports effortless.

Foolproof Data Security

Data security is a major concern in recent years. Protecting sensitive business data has become very important. XERO is a cloud based software and offers foolproof protection to your business data with added layers of security. Moreover, your information is backed up on a daily basis and also encrypted. The encrypted data is stored in a secure location to ensure you can retrieve it for future use.

Supports Multiple Users

With several business owners working on the platform, your business needs a platform that supports multiple users. XERO doesn’t limit the number of users – Bookkeepers, accountants and every business owner can access it. This means the issue can be addressed as soon as they arise without any meetings. Moreover, your accountant can save resources and identify issues soon in the real-time and streamline efficiencies.

Automation Processes

Whether you require to send an invoice or update the receipts, XERO gets it all done in a few minutes. With the introduction of XERO, there’s no need for paper invoices. The invoice can be processed and emailed straight to the customers within a couple of minutes. Additionally, with XERO add-ons, you can also cut down the enormous amount of time you have to spend manual data entry. Instead you can simply scan the receipts with the smartphones and upload it to your XERO database. Moreover, one of the most vital features of the software is that it allows access to real-time reporting. For example, if you need the latest cash flow statement and a comprehensive report of profit or loss, XERO enables you to generate an accurate as well as a detailed report of your business’s financial status.

Being, accountancy practice, if you are looking to expand your practice, you can contact Accounts Bytes. We are one of the leading accounting outsourcing service providers and provide comprehensive accounting solutions. All our team members are XERO Certified Advisor.