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South Africa: Meeting small business challenges with cloud accounting

Posted 2 years ago in Advisors by Emma Izatt
Posted by Emma Izatt

Guy Krige and Ryan Coates founded Diga in 2014. As cloud application specialists, Diga helps businesses go digital. Guy and Ryan both previously worked for PwC and had experience in dealing with client problems around outsourced accounting and cloud operating platforms.

Diga’s clients often struggle with cash flow projections and understanding the daily cash flow requirements of their businesses. SARS compliance remains a monthly challenge. Xero enables them to solve these problems, making sure cash flow is a consideration long before it’s a crisis.

“All small businesses have a core focus – something they are really good at. And the administration that goes with it is a pure by-product. The only reason I have cash coming into the bank and cash going out of the bank is because I’m incurring expenses and I’m selling things, so I’m getting revenue. What we find with most organisations is that they neglect that aspect until it becomes a crisis. This is where Xero becomes quite a mind-blowing solution,” Guy explains.

Global benchmarking

Diga recommends Xero to its clients as the software provides them a platform to benchmark their performance metrics against global best practices. The software’s financial reporting functions change the way SMEs look at, understand and analyse their businesses.

“The reporting functionality within Xero is unbelievable. The ability to change different layouts, present figures in a different way that suits your customers’ needs, for me is a real benefit for the end user,” says Ryan.

For example, Diga introduced Cyan Capital – an investment holding company which invests in short term business insurance – to Xero. Through Xero’s software, Diga has helped Cyan Capital to take their financial management processes to the next level. Cyan Capital now has a platform that all its stakeholders can easily access.

Tangible benefits

Diga has seen the positive impact of partnering with Xero on its business. In the company’s first 18 months of operating it signed more than 330 clients.

“Xero has become an invaluable tool in our daily lives, and this mobile platform just makes it so easy. On a professional level, Xero’s financial reporting solutions have changed the way I look at my business, the way I analyse my business, the way I understand my business,” Guy Krige comments.

Diga: Changing the way advisors connect with their clients from Xero on Vimeo.

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