Xero is a leader in SAAS for SME enterprises
Updated January 09, 2018
Xero is a leader in SAAS for SME enterprises
Score 10 out of 10
Vetted Review
Verified User
Overall Satisfaction with Xero
Xero is used to manage all the financial transactions and reporting for a non-profit in Hong Kong. Multi-user, cloud-based access allows all stakeholders to understand the financial situation at any point in time without requesting reports or data from the limited resources. Most actions are intuitive and users require very little training to be able to effectively use Xero.
I am now also using Xero for my own startup. It is a great tool to allow the co-founders to enter their own expenses, and for me to have up to the minute cashflow information - especially because my bank finally allows Xero to automatically upload transactions - bank reconciliations are continuous and so easy.
I am now also using Xero for my own startup. It is a great tool to allow the co-founders to enter their own expenses, and for me to have up to the minute cashflow information - especially because my bank finally allows Xero to automatically upload transactions - bank reconciliations are continuous and so easy.
- Billing and collections
- The automatic bank upload makes bank account management simple. Xero has an almost realtime picture of the bank statement, which makes reconciliations a thing of the past, and makes it a great tool to support tactical decision making.
- Budgeting and forecasting - especially if you are using tracking categories - uploading budgets is very time-consuming, budget versus actual requires a download to Excel and lots of manipulation.
- Additional user types - allow "Tracking category" managers to access budget versus actual reports for their category.
- Customise Receipts - create a different document type that can contain customisable content; receipt can be addressed to someone other than the original customer.
- Improve understanding of expenses
- Insight into cashflow
- Reduced effort
Xero Feature Ratings
Using Xero
| Pros | Cons |
|---|---|
Like to use Relatively simple Easy to use Technical support not required Well integrated Consistent Quick to learn Convenient Feel confident using Familiar | None |
- Bank reconciliations are automatic once set up with the bank - no more downloading and uploading files, and spending time finding missing transactions.
- Expenses - the most intuitive way to use the mobile app expense reporting function results in one claim per expense. This would be okay if you could approve expenses in bulk - but you cant so it is very time-consuming for the approve. Also expense reimbursement payments should also be allowed in bulk,
Yes - Mobile interface is easy to use - but the concept of multiple expenses on one claim could be more self-evident.