Item: Xero
Rating: 10
Author: Trevor Ewen

Use Cases and Deployment Scope

Xero is our accounting management platform. I have used it at four prior firms, and I have always been happy with the capabilities of the software. I run the finance team, but my background is in software development, so I am an avid user of the Xero APIs, which are a key part of my criteria for finance and accounting platforms.

Pros and Cons

Reconciling Transactions
API Design
Repeating Invoices, Bills, and Journal Entries
Fixed Asset Depreciation
Financial Statement Customization
Bank Feeds & Statement Imports
Correcting Mistakes
Contact Management
Payment Provider Integration

Email Templates
API Authentication for Service Accounts
Permissions Management

Return on Investment

More Consistent Reporting
Central Place for Finance and Accounting Management
Critical Permissions for Sales and Customer Facing Roles

Alternatives Considered

QuickBooks Online and NetSuite ERP

Both platforms have their strengths outside of Xero, but ultimately my familiarity and trust of the platform won the day. I believe Quickbooks has improved since the last time I evaluated it, but having deployed Xero in a number of firms, it is harder to make me switch because of the benefits I receive from familiarity.

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

GitHub, Zoho CRM

Usability

Incredibly user friendly platform. This is where they have put the weight of their development. Xero does a lot of work to demystify accounting processes that may be harder to understand in other platforms.

Support Rating

I have not contacted support.

Likelihood to Recommend

Xero is a very friendly accounting platform for modern firms that may have technical resources in place to take advantage of the robust API. Additionally, it's pricing and ease of use appeals to solopreneurs and small businesses, but I think it has greater scale than just that. QBench is a much larger and more active user of the platform than your average small business, and we find the scale to be sufficient.

Modern Accounting for Professionals and Learners Alike

Overall Satisfaction with Xero