Overall Satisfaction with Xero
Kanopy operates on a multi-subsidiary basis, internationally. Xero is both the legacy ERP system that accounting used prior to 2021, as well as the current system that Kanopy's Australia subsidiary uses to maintain its books. Xero works well as an international ERP and specifically is beneficial for companies where simple is better. Xero is not a highly sophisticated ERP, compared to things like NetSuite or MS Dynamics. Kanopy migrated to NetSuite in 2021 to better leverage customized solutions and a heavier bundle of APIs connecting with the ERP to integrate our business. Xero works great until a high degree of customization and connectivity is needed, and that's where it starts to fall when compared with the other bigger ones.
- Multicurrency subsidiary management - easy to transaction and translate financials into various currencies.
- "plug and play" accounting system with minimal customization required - great for smaller businesses or straightforward operations.
- Smart-scan software integrations for accounts payable and receivables.
- User management and permissions is the easiest out of any ERP system I have used, and that's comparing across many.
- API connectivity to key systems is not as robust as systems such as NetSuite and Dynamics. If your business wants to connect all of its core platforms and flow data using best-in-class connectors, Xero will fall short.
- Customized financials and reporting is also simplistic - this is both a pro and a con, depending if your business is simplistic or if it has a high degree of specific and non-standard requirements. It's extremely easy to maintain a P&L and balance sheet, for instance, but custom reporting for things like FP&A are a challenge.
- Scripts for automated accounting processes are similarly not robust and I would not recommend scaling a business with complex automations and build-outs in Xero.
- Saved time by making standard and recurring processes very quick.
- Reduced errors due to simplicity of learning and maintaining the software.
- Maintained financial health of the company by allowing various stakeholders to access at a reasonable price for licenses.
N/A
Do you think Xero delivers good value for the price?
Yes
Are you happy with Xero's feature set?
Yes
Did Xero live up to sales and marketing promises?
Yes
Did implementation of Xero go as expected?
Yes
Would you buy Xero again?
Yes