6 Things that tech companies love about using Xero

 It doesn't matter if you work for a SaaS company, manage IT systems, or develop software – if you work in technology, you'll love Xero accounting software. Since its inception, Xero has been a technology-first accounting solution, and it takes pride in providing a modern accounting experience that fits in perfectly with tech companies. Here are six ways Xero meets the needs and expectations of technology companies.

1. The Xero OpenAPI

Xero has a plethora of amazing features that make it the accounting software of choice for tech companies, but this has to be their favourite by far! Xero lists over 700 apps that connect out of the box, but connections can also be made using middleware like Zapier. Xero has open APIs (RESTful web services), which means that if the solution you require isn't included in the extensive list of available integrations, coders can get to work and create their own.

This is very exciting for tech companies because it allows them to get the most out of their software while also streamlining their processes. A real-world example of this in action would be our client Provident, who linked their CRM, Sugar, to Xero. They designed the integration themselves, and it is performing admirably for them. Because of its open APIs, Xero has positioned itself from the start as an agile accounting solution, making it a software tech company's natural choice.

2. Monitor Project Profitability in Xero Projects.

Poor project management can bring any company to its knees over time, but it is especially dangerous for tech companies. Why? It all comes down to the sheer size of the projects that tech companies work on and how expensive it is when things go wrong. According to the Harvard Business Review, one in every six projects goes over budget by 200 percent, and 55 percent of project managers say that budget overruns are the primary cause of project failure. No business wants this, which is why our tech clients use Xero Projects to keep projects on track and on budget.

Projects was a simple app when it first debuted, but Xero has been improving it ever since, making it more popular. It is an excellent project management software that enables you to keep an eye on your projects without becoming overwhelmed by the details. Because of the simple interface, you can quickly determine how profitable you are on a project-by-project basis. You can assign expenses, locate important receipts, and record deposits in a matter of seconds, ensuring that you always bill the correct amount for each project. Projects, of course, integrates seamlessly with your Xero accounting software and costs only $7 per month for one user ($5 for each additional active user per month). What's not to love about this?

Because of its open APIs, Xero has positioned itself from the start as an agile accounting solution, making it a software tech company's natural choice.

3. Xero Project Time Recording

Time management is a tricky issue that falls under the purview of project management. Going over budget on a project is generally equated with going overtime; after all, people must be compensated for the services they provide. Keeping track of who is doing what, for how many working hours, and what the cost rates are for each individual is critical for determining a project's true profitability. The good news is that when you use Xero Projects, you don't need to use a separate application to accomplish this.

You can record your time in Projects on your desktop or mobile device. Everyone working on a project will be assigned an ID within the app, from which they will be able to capture and track their time, making it easier for managers to determine how long a project will take and how much it will cost. We've discovered that many of our tech clients who tried other time management tools, such as Toggl and Workflow, have now settled on Xero Projects, which speaks to how good it is.

4. Paperless Options That Work Well in Tech Companies

Our tech clients appreciate the fact that Xero keeps everything safe and secure in one place. This is not only more efficient, but it also keeps the dreaded paper stacks at bay! For tech companies that already keep everything digital, paperless accounting makes sense. People in the technology industry understand that, unlike paper records, having everything securely stored in the cloud means you can access the data you need from anywhere, at any time. The fact that Xero is a pioneer in the paperless office attests to their natural working style. Paperless working is now easier than ever thanks to Xero accounting software and its hundreds of intuitive integrations.

For example, Xero add-ons such as AutoEntry and Receipt Bank automatically capture your invoices, receipts, and statements, extract important details from them, and transfer the data to your accounts so that you always have up-to-date information at your fingertips. Another paperless task is importing bank transactions for one-click reconciliation. Do you receive supplier bills via email? These can be forwarded directly into the billing module as a payable bill in Xero. Payroll has also gone paperless! SimplePay and Parolla are the two payroll integrations used by Xero. We could go on, but we believe the benefit of embracing a paperless office with Xero accounting software is obvious!

5. Xero Has A User Interface That Tech Firms Appreciate

People in technology have strong feelings about user interface design, but Xero is confident that it meets expectations. It's not by chance that their brand slogan is "Beautiful Accounting." Before Xero, there was no such thing as beautiful accounting. From the start, their main priority was to create accounting software that oozed usability for all types of people working in all types of industries, and the result has been a resounding success.

We've discovered that our tech clients appreciate how user-friendly and feature-rich the Xero interface is, which is a high compliment given that these are people who have designed software many times before. This user interface makes it simple to switch between features, get what you need when you need it, and keep data organised. With three different apps on the market – Xero Accounting, Xero Expenses, and Xero Projects – Xero has also demonstrated its ability to create beautiful mobile versions of the software. The clear language used by Xero makes understanding the software a breeze, and the user-friendly functionality of the dashboard makes accounting easier for non-accountants.

6. Xero Is a Cloud Accounting System

Although it may appear obvious, the cloud continues to be a major draw for technology companies. Xero is set up similarly to the systems that tech companies are accustomed to using. Xero meets the high expectations that tech companies have of their systems, and being in the cloud is a big part of that. Working with accounting software that is only partially in the cloud would be extremely inconvenient for these early adopters of technology. Xero is reassuring because it fits into the natural rhythm of working at a tech company.

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