Five telltale signs that you should be moving your clients to the cloud
1. Your clients are sending you shoeboxes of receipts to enter manually
Wouldn’t it be nice if you and your client shared access to the same accounting software, and their data appeared in the system automatically? For example, here are the three most-loved Xero features by accounting and bookkeeping firms:
- Multiple user access, one cost: With Xero, both you and your clients have the ability to log in to the accounting software at no additional cost. This means that as your clients raise invoices for new orders, you can reconcile them right away with incoming cash flow.
- Direct bank feeds: Xero integrates with your clients’ small business banks, so their bank transaction lines flow into the accounting software automatically, each day.
- Automated invoice reminders: Nobody likes chasing for payments – but in Xero’s case – the technology does it for you! You can decide when and how often the reminders are sent out, and track if your customer has seen an invoice and if it’s been paid.
Xero also integrates with more than 800 business apps in our app marketplace. This means you can let the technology fetch and reconcile accurate data for you, instead of having to do so manually, and spend more time on what’s important for your business.
2. You want to spend less time on retrieving client information, and more time expanding your client portfolio
When you switch your clients to cloud accounting, their financial data is automatically synced, stored, and backed up securely online. This means you’ll be able to access your client data anywhere internet connection is available – on desktop, tablet and mobile. Clients appreciate quick answers right when they need it – they’ll value your service even more! Technology will also equip you and your practice staff to service even more clients at any given time.
3. Traditional accounting software is costly, clunky, and outdated
Think cloud accounting software is costly? Think again. Traditional accounting software requires hefty upfront fees in installation, hardware, version upgrades, maintenance, system administration costs and server failures. When you transit your clients into the cloud, the cloud service provider will manage these – so there’s one less thing for them to worry about!
Everything runs online, so there’s nothing for your clients to install. Updates are free and instantly available. Automatic updates also mean you always have access to the latest features and benefits, without extra upgrade costs.
Most importantly, Xero doesn’t charge over-the-top prices, only for what your clients need. If your clients don’t require access to the accounting software, you can start a Xero Ledger or Cashbook from as low as USD 3 and USD 12 a month! If you service your client using Xero under our partner program, you further receive subscription discounts of up to 30 per cent off for every client.
4. You value security and privacy
Contrary to popular belief, your data is actually much safer in the cloud than it is on your computer. Your computer can be stolen or corrupted quite easily, but cloud companies spend millions on systems and experts to protect your data. Learn more about Xero’s secure data protection practices here.
5. You want to grow your firm revenues in the new year
Based on a 2020 study of the Singapore accounting industry by Xero, accounting and bookkeeping practices who make effective use of technology have lowered their costs by 240 hours per client per year, and grow their revenue three times faster than their peers. Read more here.