Your accounting system is at the heart of your business. Whether you use Sage, Xero, Quickbooks or something else, there is a wealth of data about your suppliers, customers, financials and KPIs in it. One of the key advantages of Xero specifically, is that it’s cloud based. Being cloud based makes it easier to link it with other systems and to get data out of it in your preferred format.
However, as your accounting package, Xero or otherwise, can’t encapsulate everything you do, it’s common to have other systems with overlapping data. Maybe you use Office365 or Google Apps (Gsuite) for the address book but when a customer moves to new premises, you have to update both systems.
Advantage 1: Keeping Xero in sync
Bespoke software development opens the door to synchronising data in Xero with any other system. This includes Xero’s official integrations – but also proprietary systems, legacy systems and systems that don’t officially connect with Xero. Bespoke software can help you to keep using your other systems – or to use a system that doesn’t officially integrate with Xero – and keep them in sync.
Advantage 2: Reporting
The wealth of data in Xero, Sage and other accounting systems can be hard to extract in the format you want. Let’s say that your KPIs include:
- The number of customers with whom you work in a given month,
- The amount of value generated by each individual,
- Your monthly profit and turnover growth,
- The ROI on your marketing spend.
Your accounting package holds the keys to this data – but you might have to download a spreadsheet from it, copy and paste in other data from other sources and do some manual analysis. Whilst there is something to be said for manual analysis, there is also a lot to be said for keeping up to date. Bespoke software can provide you with a single pane of glass for your important metrics, presented how you want them to be presented.
Advantage 3: If-this-then-that
Aspects of what you do will undoubtedly be complex. However, it’s likely that some of your processes could be encapsulated by a simple order of events. For example, “when the Xero invoice has been paid, send the equipment to the customer”. Keeping abreast of when each invoice has been paid and ensuring that the correct information is conveyed to shipping could be time consuming. However, this sort of repetitive work can often be simplified or automated entirely by software.