Since its launch in September 2018, the Xero Projects add-on has been one of the most popular financial management enhancers. Designed to boost productivity by releasing valuable time, Projects is all about clarity of financial information to make your business more effective and productive. Here’s a rundown of what the latest upgrades offer.
The Profitability Problem
Every company needs to be able to identify profitability improvements. These are often dictated by staff time and expenses for each job. The more projects on the go, the more complex this is to evaluate.
Many SMEs under-perform and can even end up making losses because tracking project finances is an unwieldy business, and they lose track of how actual costs accumulate, which are often not according to original plans and budgets.
How Xero Projects Helps
Xero Projects is designed with simplicity in mind. As a job costing tool, it tracks each project in real-time so that managers can see exactly how each job and each task is doing financially. This means that money-pits are quickly red-flagged. It also means that if there is unexpected financial pressure, funds can be generated quickly and problems mitigated. For instance, proactive invoicing can make a big difference to cash flow, but only if you know who to invoice and when. Xero Projects helps with this decision-making process.
The Xero Project Philosophy
Xero helps minimise reworking the same numbers again and again through spreadsheets and makes reporting and analysing figures quick and accurate. Because of the time savings and better reporting more attention can be given to managing the business, resolving problems and generating value within the business and for clients.
Tasks that can be swiftly automated with the Xero Projects add-on. This frees up time at the critical project decision-making phase, and then ensures that on-going admin is both organised and accurate.
Keeping It Easy
The Xero Projects add-on has been purpose-built for ease of use. This means that it is transferrable across multiple platforms, such as mobiles and tablets, as well as being designed to integrate seamlessly with existing Xero software. For example, it will communicate with invoicing add-ons such as Xero Chaser, transforming the project into a single harmonised process.
Find Out More
If you are looking for ways to make your projects more cost effective, productive, and efficient, Xero Projects may just be the add-on for you. It’s simple to install, easy to use, and highly practical. Contact Us today to find out more!