Getting even more out of the Cloud
The benefits of moving your accounting software into the Cloud using software like Xero, MYOB or Reckon, has been well documented. But did you know you can also seamlessly run many other aspects of your business, with some really simple additions?
Many businesses have already moved, or are now moving their software systems to the Cloud. In the accounting world, Xero and MYOB are the market leaders. Our own practice uses Xero, as do hundreds of our clients. But getting the most from these great tools means planning first.
Before making any decisions on moving to the Cloud, or investing in new software, it’s critical to decide what reporting you need first. What information do you need, at a touch of a button, in order to run your business better? If you’re a restaurant, that might mean knowing the gross profit margin of each menu item. If you have staff on the road, you’ll want to know where there is down-time, so you can allocate jobs more efficiently. If you run a sales team, you’ll want to track their performance. Cloud accounting software will only get you so far. It’s the add-on software that can really automate your business.
Once you’re clear on what information you need out of your software, it’s then pretty easy to find a solution if your accounting package doesn’t have it, particularly if you’re using Xero.
WorkflowMax – this software add-on is great for keeping track of things, helping you manage projects and jobs. Our fencing client loves the job costing and has a good handle on where profit is made or lost, as well as what materials they need. Other businesses are time tracking better, quoting more efficiently, have better CRM and know how they’re tracking against quotes. This is probably the most powerful add-on we have come across for making a difference to our clients’ businesses.
Deputy – if you’re spending a lot of time scheduling employees – perhaps you’re in a hospitality business – this add-on can schedule and reallocate shifts with just one click. For staff communication it’s great because you can share messages, assign tasks, and even reward employees. Our electrical contracting client uses it to schedule electricians in the field, and it even feeds into your payroll system.
ReceiptBank – anyone who wants to be paperless would benefit from ReceiptBank, as it gives you online storage of receipts and invoices. You simply take a photo of your receipt or document using your tablet or phone and publish to the cloud. But the real time-saving comes from extracting the data in those receipts and invoices. At a click of a button you can extract information that would take your bookkeeper hours. Our restaurant clients love the mobility of ReceiptBank – by simply taking photos of receipts, they know they can interrogate details later.
Kounta – retail and hospitality businesses benefit hugely from this Point of Sale (POS) system. It’s great for the checkout process, processing payments, store management, multi-site management, managing multiple products and inventory, and even for CRM. Working out the gross profit of a plate of food has never been easier!
Crunchboards – as accountants, we love the real-time reporting that both we and our clients get from this add-on. Live data is accessed from your accounting software, which is used for budgeting, data comparison and KPI measurement. Our clients also use it to track the performance of non-financial data, making planning and forecasting so much easier.
These are just some of the powerful tools that your business can benefit from, whether you’re on Xero or not. We’ve helped many clients totally automate their businesses, and these tools are ideal for anyone who doesn’t like book-keeping, because you don’t even need any accounting knowledge. If you would like help working out how you can make the most of some of these tools, please contact us.