Xero is fast becoming a major player in the U.K. for tradespeople running their own small business. Like it’s desktop “WebApp” version, Xero’s mobile and tablet apps been developed specifically for time-poor small business owners — particularly those who spend their days out on the road.
With Xero, plumbers, electricians, builders and other tradespeople right across Britain can use their tablet to create estimates and invoice their customers on the spot, and in real-time, rather than later than evening or week, when they’re back at a computer.
Being able to create invoices on the spot, increases the rate of acceptance tenfold; real-time invoicing does too. Reducing the time between quoting and acceptance, as well as the time it takes to get paid, is a key component of good credit management.
Credit management focuses on the systems a business has in place to ensure they have a steady stream of work and money coming in.
This ensures good cash flow, the backbone of any healthy business. Xero helps automate the credit management process through features, such as automatic reminders, bank feeds and cash flow reports.
Businesses still using spreadsheets and Word documents to manage their business accounts are missing out on valuable tools that could be helping their business to grow and become more prosperous.
After all, when there’s money in the bank and more work coming in, there’s opportunity to grow and expand to another village, another city — from London to Manchester, Birmingham or Leeds.
Since Xero launched in Australia and New Zealand, it’s become the region’s market leading cloud accounting software — beating the incumbent MYOB.
Besides helping small business owners to set up credit management processes that help to grow their business, it’s also given plenty of bookkeepers the opportunity to start a home-based business.
We’ve helped numerous bookkeepers in Australia start their own home-based bookkeeping business, through National Bookkeeping.
If you’ve recently shifted to Xero for your business — or you’re planning to become a Xero bookkeeper — visit and subscribe to the ShowEzy website.