International Internet Security Provider Uses Xero to Keep Their Accounts Safe
March 2008
The UK subsidiary of Mako Networks, an international broadband monitoring and security provider for small businesses, trusts Xero to host its accounts online.
With head office in New Zealand, and other offices and distributors across the globe, Mako Networks CEO Bill Farmer can be anywhere in the world and still know exactly the financial situation of his UK business.
Before using Xero, Bill admits there was a "totally inefficient" accounting process in place in the UK office:
"Every transaction and invoice was being duplicated in 2 offices - we were literally re-keying in the same information again. Now, with Xero, all invoices are entered once onto the system by the sales team in the UK for everyone in the company to access worldwide. The UK accountant can manage cash flow and produce the reports required to handle VAT filing and regulatory activities. Then I, and the New Zealand head office team, can log-in to Xero any time and pull out the financial information we need to know."
Bill explains further why having an online accounting system suits Mako Networks perfectly: "Being an international organisation means we have to be prepared to work in any time zone and any location so to have access to our UK business financial information securely online 24/7 is ideal."
Mako Networks is an organisation that runs entirely on Macs which is another reason that an internet browser-based accounting system made sense. Not only can Mako Networks staff access Xero from anywhere in the world (if they are online), but they can use their Macs to do so. Xero is designed to work on all internet browsers, including safari, which is a Mac-only browser.
As an organisation dealing with small businesses on a day to day basis, Mako Networks sees itself as "fundamentally very similar to Xero", and this was another reason Bill liked the software. "Mako Networks and Xero are approaching small businesses with the same benefits. We are allowing small businesses to have access to important information they need, whenever they need it, and from wherever they are. In the case of Mako Networks, this is internet use and security information, and with Xero, it's the current financial picture." Bill likes the synergy of what Mako Networks and Xero are doing.
Xero has also brought huge times savings - or rather has obliterated any time lags or delays in access to accounting information - for Mako Networks. As Bill describes; "Before we would have some numbers internally monthly, but we only had the complete financial reports for the UK business quarterly. We now have day to day access to the numbers with Xero, and this is a huge improvement. For any small business, visibility of cash flow is key, and Xero gives me this instantly at any time."
Bill cannot emphasise enough the importance of cash flow to small businesses, and gives an example of where Mako Networks struggled from time to time prior to using Xero: "VAT payments, for example, would be worked out on a quarterly basis by our accountant, and if not managed well, could have a big impact on cash flow for the month they were due. Now, with Xero, I will know at any time what our VAT requirement is going to be, and we can plan accordingly."
Bill offers pertinent advice for any small business that “Planning is paramount, and to have access to up to date key financial information is critical. Xero gives us a simple, but highly effective, way to manage our accounts, and gives us the financial information we need wherever we are in the world. It's all about simplicity, and knowing what is happening on a daily basis."
Lee is delighted that using Xero means he spends hardly any time sorting out his accounts these days - and he is always on top of them. He now spends the extra free time he has at home with his family.
Mako Networks offer visibility of what is happening on the internet for small businesses, with their broadband monitoring and security service.
Experts in Internet Security, Mako Networks are one of only 30 companies worldwide that are ICSA approved for what they do (the highest international Internet security standard).
Mako Networks was formed in New Zealand in 2000, and now operates there and in Australia, UK, Ireland, UAE, Saudi Arabia, USA, Canada and South Africa.
Customers of Mako Networks include IT Integrators, Resellers, Internet Service Providers and Telecommunication companies.
