Item: Xero
Rating: 10
Author: Verified User

Use Cases and Deployment Scope

it is an accounting platform and it is very powerful. We can prepare the financials very quick and timely matter and make financial decisions. It is very user-friendly so it is easy to use. I can see all my financials by logging in online and discuss my questions with my team online at the same time. I can also integrate Xero with so many other applications so it makes it very powerful to use.

Pros and Cons

Bank Rules and Bank Reconciliation.
Financials Reports.
Integration.
Payroll.
Compliance Work.

Tracker - You can track financials by location or project but after a while, it gets slower. This is not Xero's primary function but they introduced new addon called PROJECTS, functionality could be better.
Xero build in OCR invoice scanning function could also be better, it does not pick up the information sometimes.

Return on Investment

Reduced Errors.
Time Saved.
Accurate Financials.
Improve Financial Reporting.

Alternatives Considered

QuickBooks Online, MYOB and Wave Accounting

Xero could be slightly more expensive compared to these products but to me, Xero is the most user-friendly platform. It is very easy to use. Their support page and email support are also great. Apart from the platform, Xero has lots of integrations with other software providers which enables to sync various dates like payroll, sales, and inventory.

Usability

Xero is very user-friendly, it is not designed for accountants but it is designed for business owners. Terms are easy to understand, navigation on the website is very easy and logical. You can also run many reports, payroll accounts payable or receivable all in easy to generate, it is a very practical accounting system.

Cloud Costs

Xero improved the accounting process by tidying up the financials. Before Xero, it was quite messy and things were not coming together but once we set up Xero, we were able to review the financial position easily and quickly. It enabled us to focus on areas that do not look right and by looking at the financials more closely, we were able to improve the process and improve the cost.

Ease of Integration

Xero integrates with lots of add-ons and compared to other accounting platforms for a similar size, Xero's cloud integration is much powerful and data that can be integrated is much better quality. it depends on the add-on software but most data integrates either at the transaction level or daily basis as total.

Key Insights

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

Other Software Used

MYOB, QuickBooks Online

Likelihood to Recommend

Xero suits almost any industry. You can set up bank accounts and bank feeds and receive daily active feeds to review and reconcile bank transactions. It also supports both single and group companies with lots of employees. Payroll is easy to set up and run as well. One of the most powerful functions to integrate with different platforms. We are using Xero to integrate different Point of Sales Systems like Vend, Kounta. Same for Payrolls like Deputy and Tanda. Same for Ecommerce like WooCommerce, Shopify, and payment platforms like Eway, Stripe. There are many integrations.

Easy Use and Beautiful Online Accounting Platform

Overall Satisfaction with Xero