Out of frustration, sanity
We adopted Xero after researching numerous alternative accounting systems. We recognized that the time has come to progress beyond the desktop and with the rapid uptake of mobile communications, more and more software is used as a service (Software as a Service is also known as SaaS). Solutions such as Quickbooks are highly evolved from a desktop platform. Xero is a cloud based accounting solution built from the web up. All of the infrastructure requirements are in the cloud and included in the low monthly subscriptions. The interface is clean and intuitive and each business is entitled to an unlimited number of users with no extra costs. No more backing up of accounting data and no more sending files to the financial advisor for review. Everything is stored in the cloud so that the business owner, and the financial advisor, can look at the same data anytime, anywhere. Since the system runs through a standard web browser, the only requirements are a computer with a web access. Since the data is not stored on a local computer, it is not subject to the same vulnerabilities as desktop based systems.
One very important aspect of cloud based solutions is their level of integration with other cloud based solutions. The way these applications communicate with one another is through APIs or application programming interfaces. So if, for instance, your business uses a cloud based accounting solution such as Xero it would be nice to know if it can communicate with, say, a point of sale system or email marketing platform. Having access to a large number of third party solutions via the APIs was one of the deciding factors in preferring Xero over other accounting platforms. The APIs generally make interaction between the applications seamless - just set and forget (no technical expertise necessary). Xero add-ons include leading providers in e-commerce, point of sale, e-marketing, customer relationship management, inventory, payroll, and job tracking to name a few. Ensure that you future-proof your business with a cloud based solution that can integrate with other cloud based solutions.
How time flies. We say this every year with increased surprise. This time of year is cause for reflection in various ways. How did I do as a person? How do I need to change? How does my business need to change, in order to face the challenges of an uncertain 2013? These musings [...]
There is nothing wrong with avoiding risk in commerce. In fact, many buyers of my businesses for sale aim to do just that, investing in something with a track record. However, the same principles are also relevant when starting a new business. Just take the bits that apply to you, and use what’s most relevant. [...]
If you buy a business for sale that’s an inactive shell, then its value is its depreciated assets – less a deduction if its reputation’s shot (perhaps we should call that “bad will” to be consistent). If, on the other hand it’s up and running then it benefits from goodwill. In this article I explore [...]