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XO Cashflow – making accounts receivable fun

XO Cashflow Add-on Partner

XO Cashflow is out to make managing accounts receivable fun. That might seem a tall order, but they achieve this by streamlining the process of following up on overdue invoices.

The focus is not just on automation and bulk email invoicing, but also on the personal connection and the communications back from the customer, for example if the customer wants to question or request a copy of the invoice.

These interactions are all recorded in XO Cashflow and you can add notes to an invoice also, so you know where you are with each debt.

Who is it for?

If you find managing your overdue sales invoices time consuming, but you still want to maintain a personal touch, then XO Cashflow may be for you.

How XO Cashflow works with Xero

XO Cashflow retrieves your outstanding invoices and related contacts from Xero and keeps in sync from then on. There is also an advisor dashboard for Xero accounting and bookkeeping partners.

Where you can use XO Cashflow

XO Cashflow can be used anywhere so long as you are using the invoicing functionality in Xero. Pricing is available in US, Australian and New Zealand dollars.

Check it out

Get started right away from $10/month or try the demo before you commit. All the details are here.

 

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10 comments

HeatherSmithAU
26 November 2012 #

Your video includes limited info on how the product works. XO CASHFLOW I contacted you on social media two days ago, here is the question again, can you elaborate on how you work with contact groups?

Josh from xocashflow
26 November 2012 #

Hi Heather,

Thanks for your question. The only reason I hadn’t yet responded via Twitter is because I had no idea what contact groups were in Xero. How do these work?

xocashflow contacts the primary accounts contact at the company you’ve been dealing with, as in the person who has been receiving your invoices. It works this way:
1. A sync is performed that pulls down invoice data from Xero. The system determines which invoices have yet to be paid in full.
2. The system will then sort the invoices according to how overdue they are, and whether a reminder has already been sent about the invoice in question recently.
3. It will then present you with a list of all of the reminders the system feels should go out today, while identifying any contacts that don’t have names or email addresses attached.
4. At this step, you’re able to easily choose to exempt reminders for individual invoices (for that day only, or permanently), and will be able to send to all chosen recipients with a single click.
5. Within minutes, you will start seeing activity reported to reflect the total value of invoices chased, the number of emails that were sent and will be notified of any queries or remittance advice that is returned.

If you would like to investigate further, there’s a free online demo on the xocashflow website that doesn’t ask for any of your personal or billing details. Just click on the demo link and start playing! :)

I hope this helps, Heather, and thank you for your interest.

Kind regards,
Josh – Team XO

Josh from xocashflow
26 November 2012 #

One more thing. I didn’t get back to the Xero team about this quickly enough, as my wife and I were busy having a baby when the blog post was submitted for review, but we do also have a free “Advisor Dashboard” available to Xero Partners.

This gives Xero Partners the ability to sign up clients under their own account (or to link their account to those of existing xocashflow clients) so as to manage this accounts receivables process as a professional service. The Advisor Dashboard allows Partners to easily log into any of their clients’ accounts, to send invoice reminders and to view essential stats about all of their clients from one single page (inc the total number of overdue invoices, the date of the last reminder batch, etc).

Gaining access to the Advisor Dashboard is as simple as signing up for XO Silver and clicking on the “Advisor Requests” tab within the system to apply. Once granted access, you’ll be given another free XO Silver account to provide to one of your clients, as well as access to the Dashboard and an online demo account that can be used to showcase the system’s functionality during a sales or consultation meeting with a client.

As an add-on exclusive to Xero, we’re huge supporters of Xero Partners and this is the first offering we’re making available to provide advisors with another potential services revenue stream.

Dan Norris
30 November 2012 #

Good stuff. I used XO Cashflow in my last consultancy and it saved me a huge amount of time and hassle. Glad to see it on the blog.

Cambel
10 December 2012 #

I have different emails in my invoices to those that are set up in contacts in Xero, how will your system determine the difference. Really Xero needs more than one contact field, primary client contact and invoicing contact at least.

Christian
11 December 2012 #

Hi, how does it work if I invoice mixed currencies? Some in USD, some in SGD (Singapore Dollars)
Thanks, Christian

Michael
11 December 2012 #

I like your templates, however your product is waaaaay too complicated. I am actually surprised how you were able to confuse such simple activity to such high level of complication and bad design. I gave up in less than a month with your product. Let me guess. Your designer was your programmer and not actual web designer? Am I right? It is like it was designed by math professor. Completely awkward and from behind. Just look at your competitors to see how it should be done. Debtor Daddy just shows how easy it should be. Basically I refuse to use your software and I prefer to pay double just because your design (and arrangement) is completely confusing.

Josh from xocashflow
12 December 2012 #

Cambel – That’s a tricky one. xocashflow grabs the primary contact from Xero and mails to that recipient.I’m not sure how to get around that one, without adding complexity to the process or creating a manual over-ride field that allows you to nominate a different email as a recipient of any of the reminders. I’m sure you have a good reason, but just so that we know how a little more about how people are using Xero, why are your recipients not set as the primary contact in Xero?

Christian – Another excellent question. In reporting, we currently differentiate between Pounds, Euros, Rand and Dollars (generally – since the dollar symbol is universal). As such, emails sent to your Singaporean clients will still say ($xx), without specifying whether this is USD or SGD, which should hopefully be fine. The only issue on your end would be that, in the “XO Activity” tab, your reports would lump both “Dollar” figures together. Those graphs aren’t visible to your clients, so hopefully that won’t limit you from using the system now, but we will commit to adding separate support for SGD in the coming weeks, as that’s proving to be a popular region for Xero.

Michael – Thanks for the productive feedback. Though it’s tough to simplify a system that offers much more complex functionality and control than Debtor Daddy, we’re set to embark on a complete redesign of the interface from January 2013 to better streamline the user experience. Check out the work we’ve done on elevationHQ (www.elevationhq.com) recently to see how our designer is able to simplify and naturalise even something as complex as a full-blown CRM, proposal generation and lead management system. The current xocashflow interface was indeed built by developers early in 2012, but will be fundamentally reimagined by our lead designer during the coming weeks. If you follow us on Twitter or Facebook, we’ll ensure that you’re notified as soon as the new interface is live. Until then, hopefully Debtor Daddy will serve you well – it is a great system for those who like the more automated approach and who reconcile daily.

So, commitments from us to come from these three suggestions are:
1. We will consider implementing a manual over-ride feature to allow reminders to be sent to a different contact in Xero, depending on how frequently this is required by other members and whether this is even possible though the Xero API.
2. SGD will be supported in reporting by the end of next week.
3. An entirely new user interface will be implemented in January or February of 2013 to simplify the user experience.

I hope this helps and thank you for the frank feedback. This is really helpful stuff. Keep the suggestions coming!

Kind regards,
Josh

Josh from xocashflow
18 January 2013 #

Hi all,

As a quick update for the new year, we can confirm that support was added for Singapore Dollars (SGD), which are broken down separately in reporting on both the account and Advisor Dashboard level. We can also now accept members from Singapore.

This adds to support already existing for the United States, Canada, Australia, New Zealand, United Kingdom, Ireland and South Africa and currencies including the USD, AUD, NZD, EUR, GBP and Rand.

Look out for our new user interface, set to debut this February.

Best wishes,
Josh

David Kime
18 January 2013 #

I have to say I love how easy the software is to use and I have implemented it in a client as a first step to proper debtor control.

The only thing I would like to see is for the emails to be per contact rather than per invoices so that contacts with multiple invoices outstanding only gets one email per run.

Might be useful to add the fact that an email was sent to the notes automatically.

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