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Xero Accounting Software Can Increase Profits

Xero

Most small business owners who use Xero quickly master the basics. They automate processes like invoicing and payroll, track expenses and view real time financial reports. This helps to manage cash flow and make better business decisions.

But what many business owners don’t take advantage of are key insights that can improve customer care and increase sales. Here are some smart ways you can use Xero to help boost your bottom line.

Gain insights that increase sales

Are you tapping into your business analytics to better understand your customers? If not, you’re missing a major opportunity to close more sales.

Xero can help you highlight your biggest spenders and buying trends. Do you know who your best customers are? Your biggest selling products? How much each customer spends? How would these insights impact your marketing decisions – not to mention help you fine tune your sales strategies?

And by knowing which products and services aren’t selling, you’ll be able to make more profitable purchasing decisions. Xero also offers inventory tracking to help you decide what to keep on the shelves, which products to sell off at a discount and which items to phase out altogether.

Learn more: Improving cashflow, how to get paid faster

Use Xero to improve customer care and boost profits

Xero can offer peace of mind when you know your financials are accurate and up to date. But another major advantage of Xero is how much time you’ll save by automating processes like invoicing and payroll. This gives you more time to follow up with clients and seek out new prospects.

We all know how important the personal touch is when it comes to sales. So why not use customer data to help remember your customers’ birthdays or thank them when they’ve hit a milestone – spending more than $5,000 on your products, for example?

With enhanced customer data at your fingertips, your business will earn a reputation for personalised service. You’ll be able to respond quickly when a customer makes contact with you. And you’ll be able to suggest substitutions and offer valuable add-ons based on their buying preferences, making upselling a snap.

Learn more: Building a business budget

How will you use Xero to grow your small business?

Savvy business owners take the first step toward better profitability when they stop thinking of Xero as simply a financial management solution. Consider it a comprehensive tool for business growth.

When you look at it’s true potential, you may be surprised at the many ways Xero can help you better serve your customers or improve your sales strategies.

Learn more: Managing receipts, 4 apps to save you time

Check out our Services page for more information about how we can implement the right technology into your business. We work extensively with Xero and Receipt Bank which is a brilliant combination for meeting most clients needs. For something a little more specialised we work with other add-on partners who assist us to provide the most effective solution for your business.

Now that you have a handful of ideas for making better use of your Xero software, what will you do differently to enhance customer care, improve your profits and continue to grow your business?