contact@steppingstone.io
The Power Of Xero And Its Ecosystem For Your Globally Growing Business

The power of Xero and its ecosystem for your globally growing business

Taking a business from nothing to something – and something significant at that – is one of life’s great professional challenges. It requires hard work, skill, patience, and a healthy slice of luck to grow a company from a one-man-band to a global enterprise.

But there are ways to make the whole process that little bit easier.

For example, you could build and tap into a local business network, accessing the experience and know-how of peers who’ve been there and done it all before. Or you could work closely with a trusted professional advisor to steer your right through the choppy waters.

And of course, you could perfect your processes with the right business management systems and platforms. One such platform is Xero, a cloud-based accounting software designed for small and medium-sized businesses.

Why Xero makes sense

In the early days of any business, the focus is typically placed on sustainable growth, and keeping costs to a minimum. This usually means doing just about everything yourself, manually entering financial data into a spreadsheet, and spending hours poring over invoices, purchase orders, and bills.

Yet, there will come a point when you realise that your time is better spent on other aspects of your business. That’s when something like Xero comes into its own.

In short, it gives you the ability to run your business from anywhere with an internet connection. By securely connecting Xero to your business bank accounts, you’ll enjoy a real-time view of your cash position on your smartphone, tablet, or laptop.

You can then make informed business decisions based on those numbers, rather than working from historic data or a gut feeling.

And the benefits don’t end there. Xero allows you to:

  • Collaborate with colleagues, bookkeepers, and accountants in real-time. You can provide each with the necessary levels of access to allow them to do their jobs.
  • Get paid faster by creating and sending invoices with the option for online payment. And for those debtors dragging their heels, you can send automated invoice reminders to speed up the process.
  • Protect sensitive business data, which is backed up and secured with multiple layers of protection.

When you have Xero up and running for your business, we’re certain that you’ll wonder how you
ever managed without it. And once you’re comfortable with it, and you’re seeing the benefits on a day-to-day basis, you’ll be ready to take full advantage of its diverse app ecosystem.

What’s the Xero ecosystem?

The Xero ecosystem is an online marketplace, home to over 500 apps, all of which interface with – and add value to – the Xero platform.

These apps encompass a wide range of business areas, including inventory; invoicing; point of sale; time tracking; CRM; reporting; and more. On the face of it, many of these apps might seem like a ‘nice to have’ rather than a business essential, but for a company with designs on growing to a global level, they can be crucial.

To successfully expand beyond your borders and enter a new market ready to compete and grow, you need to first implement the correct processes. With Xero as the central financial management solution for your business, you have the option to complement it with specialist applications, primed and ready to handle specific tasks and functions with ease.

For example, by integrating a CRM app with Xero, you can manage customer relationships, track bills, and create invoices from within the app itself, which will then be automatically sent to Xero. This should then become a process that grows as your business grows; one that you can eventually delegate to an employee or team to oversee on your behalf.

That is where the true benefit of the Xero ecosystem lies – it allows small and medium-sized businesses to replicate the interconnected processes of a much larger business. And the most effective way of guiding your business from nothing to something significant is to think and act like the business you aspire to be.

Start with Xero

Operating in the global marketplace presents challenges of all shapes and sizes. If you can overcome them successfully, the opportunities for growth and success are almost limitless.

Start with Xero with a view to underpinning your business with the correct processes and financial management and you will find yourself at the helm of a sustainable and efficient organisation, capable of entering and dominating markets the world over.

If you’d like to find out more about how Xero and its ecosystem can benefit your business, contact us today to speak with one of our friendly experts.