Staying up to date and in the know with the world of technology is essential to spotting trends and planning for the future, especially in an IT business.
No more so than using the latest technology to streamline your processes, manage your finances and embrace automation through cloud accounting.
As an IT business owner, you won’t be afraid of new technologies – so now is the time to look at your accounting systems. Could you be doing things better?
In this article, we’ll run through the reasons why you should ditch those old-fashioned spreadsheets for a platform that is perfect for small to medium-sized IT businesses: Xero.
Why use Xero?
Xero is a cloud-based accounting software platform that allows you to manage your finances from anywhere with an internet connection.
Xero is incredibly popular as a platform, and for good reason. It allows you to seamlessly connect to your accountant from wherever you are in the world.
It’s smart and intuitive and makes your old spreadsheet workflows seem antiquated.
What can it do for your IT business?
Streamline invoicing and billing
With Xero, you can easily create and send invoices to clients directly from the platform. You can also set up recurring invoices for ongoing projects and track payments all in one place.
This means less time spent on manual invoicing and more time focusing on what you do best – delivering the best IT services.
Embracing automation has been an integral part of IT business over the years, so this won’t come as a shock. It’s a far simpler procedure to chase someone via an automated response, rather than constantly following up via email.
Real-time financial visibility
Xero provides real-time financial visibility, allowing you to see how your business is performing at any given moment.
You can track expenses, monitor cashflow, and make informed decisions about your business based on accurate, up-to-date data.
Tracking these decisions with such promptness and accuracy gives you a clear picture whenever you need it and will make the rest of your business work smoother as a result.
Easy collaboration with your accountant
Gone are the days of sending your accountant a shoebox full of receipts at tax time.
With Xero, you can give your accountant access to your financial data, allowing for seamless collaboration and more efficient tax preparation.
This makes conversations simple and effective – you’ll spend less time working out where to put a figure, and more time discussing how you can make your business better.
As an IT business, you know the importance of security. Xero uses bank-grade encryption and secure servers to protect your financial data, giving you peace of mind knowing that your sensitive information is secure.
Xero is a powerful tool for IT businesses looking to streamline their financial management processes and gain real-time insights into the health of their business.
Its cloud-based platform and seamless collaboration features make it a perfect fit for the fast-paced world of IT.
If you’re ready to upgrade your financial management system, give Xero a try – your business (and your accountant) will thank you.
To find out how Evans & Partners can help your IT business embrace automation, contact our team today.