If you’re considering a cloud accounting solution for your multi-entity business, Xero can often be overlooked as an option, with the assumption that the software is only suitable for smaller businesses. However, with its wide range of powerful features, Xero can help you boost efficiency and effectiveness across your group.
In our latest blog, Rosie Cooper, cloud accounting director at PM+M, explains 6 reasons why you should consider integrating Xero with your finance function:
1. Extensive app ecosystem
Xero isn’t just about accounting tasks; it has a vast ecosystem of over 1,000 third-party apps. With its open API, Xero allows users to integrate tailored solutions, making it highly adaptable to your business requirements.
2. Advanced tracking capabilities
Xero provides strong tracking categories for reporting purposes, especially if you need to span various departments. For more detailed tracking, you can combine different types of information within one category, ensuring you can easily capture all necessary details.
3. Efficient data management
As your business grows, the need to manage data effectively becomes more and more important. Instead of inputting every single transaction, Xero allows you to summarise and streamline data – simplifying reporting.
4. No need for expensive upgrades
Before considering a comprehensive ERP system, take the time to explore Xero’s full capabilities and its app integrations. Xero meets the needs of many groups and large businesses, potentially saving the expense and complexity of a full ERP transition.
5. Global functionality
If your business is expanding internationally, Xero’s global features can be highly beneficial. Supporting various currencies, compliance needs and regional requirements, which are enhanced further by its third-party app integrations.
6. Expert support
For complex accounting needs, especially in multi-entity environments, expert advice can be invaluable. PM+M’s cloud accounting specialists, who are experts in Xero’s APIs and integrations, can help tailor the platform to your specific needs and ensure you’re making the most of its capabilities.
Xero’s flexibility and extensive app ecosystem make it a cloud accounting solution which we wouldn’t hesitate to recommend – offering a wide range of tools and integrations that boost efficiency and effectiveness.
Get in touch
If you are interested in finding out more about how Xero can revolutionise your finance function, get in touch with Rosie by clicking the button below.
