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The Independent Magazine for Xero Users, by Xero Users How The independent magazine for Xero users, by Xero users ISSUE 11 magazine COVER STORY The Data Renaissance: How Bookkeeping Powers the Xero Ecosystem ISSN 2054-7226 11 9 772054 722009 Have you subscribed? Go to subscriptions.xumagazine.com Follow us on Twitter: @xumagazine Issue 11 / 1 Have you subscribed for FREE? Go to subscriptions.xumagazine.com 30+ Integrations ALL-IN-ONE PROJECT MANAGEMENT SOFTWARE Powerful Job Mobile app workflowmax.com/xero 2 / Issue 11 XU Magazine - the independent magazine for Xero users, by Xero users. Find us online at: xumagazine.com Have you subscribed? Go to subscriptions.xumagazine.com Follow us on Twitter: @xumagazine Issue 11 / 3 58 / The overlooked credit control 78 / How a video game designer Expo black hole costing businesses (and accountant) created Welcome to issue 11... billions AccountKit 6 / Helping 1 million Xero 24 / How cloud POS systems can 60 / Confusion everywhere! How 80 / Phrase of the day - Purchase Subscribers improve business we wind up running down the rabbit to Pay hole 8 / Xero partners with Capital One 26 / Gender diversity in the 82 / The vertical power of a Xero workplace: 5 benefits for small 64 / Communities of passion system 10 / COVER STORY - The Data businesses and purpose: bookkeepers unite magazine Renaissance: How Bookkeeping globally 84 / TUTORIAL - Dryrun cash flow 112 / Tax time is done... but are you The independent magazine Powers the Xero Ecosystem tutorial: Comparing your Actuals to ready for Audit time? for Xero users, by Xero users your Forecast Issue 11 114 / Why the right till system could 88 / Connecting apps with Xero to be your clients’ (and your!) best CEO: David Hassall (Co-Founder) perform accounting magic friend Managing Editor: Wesley Cornell (Co-Founder) 116 / Plumber on a mission: How Strategic Partnerships: Alex Newson this tradie spends more time on his Staff Writer: Bethany Cox passion and less in his business Editorial/News Submissions: If you have any editorial content (news, 120 / A best practice guide to comment, tutorials etc.) that you would employee management like us to consider for inclusion in the next edition of XU Magazine, please email us 122 / Keeping up with your digital at [email protected] customers Advertising: [email protected] 14 / Xero and Equifax team up to 30 / COMPARED - CRM App 90 / How the right technology can 124 / NEW XERO CONNECTED APPS help empower SMEs comparison 66 / Letting Go: 5 signs it’s time for help your company stay fraud-free - New to the Xero App Marketplace T: +44 (0)116 298 60 80 a systems upgrade E: [email protected] 16 / INTERVIEW - Q&A with Alex 32 / TUTORIAL - How to enjoy 92 / TUTORIAL - Running a till 128 / NEW RELEASES - Updates W: www.xumagazine.com Campbell, MD, Xero Asia perfect payroll with Deputy 68 / How to Manage All a Client’s account on Xero and new releases: from the Xero Wealth in the Cloud App Marketplace ‘Xero’ is a trademark of Xero Limited (New Zealand). XU Magazine is collaboratively 34 / Blast off with EntryRocket: 94 / TUTORIAL - How to Set Up produced by an independent group of revolutionising the Xero and 70 / TUTORIAL - How TradeGecko’s Accruals for Time in Lieu / RDOs in 132 / 5 Awesome Ways a Dashboard Xero users and is not affiliated in any way Shopify integration inventory and order management Xero Helps Kick Your Financial Goals with Xero. All other trademarks are the system integrates with Xero property of their respective owners. 38 / Making payroll processing a 100 / 3 habits share investors 134 / TUTORIAL - How to: Set up breeze! 72 / INTERVIEW - Q&A with Guy should break today a seamless expense management © XU Magazine Ltd 2014-2017. All rights Pearson, CEO, Practice Ignition and approval solution reserved. No part of this magazine may be used or reproduced without the 40 / SME managing projects, 102 / This POS software Xero link written permission of the publisher. XU materials and stock? Cloud helps indie retailer win online sales 136 / What’s needed to take the Magazine is published by XU Magazine technology can boost your first step to becoming an Advisory- Ltd (08811842), registered in England and profitability 104 / TradeGecko, the cloud-based led practice? Wales. Registered office: 12 Jordan Street, inventory management system to Liverpool, L1 0BP, United Kingdom. All 42 / Growth Mindset and SaaS power up your business 138 / APP/SERVICE DIRECTORY - information contained in this magazine is for information only and is, as far Tools help accountants Fill a High- over 500 apps! as we are aware, correct at the time of Value, High-Touch Role 106 / Planning a marketing going to press. XU Magazine cannot campaign for your accountancy firm 146 / ...AND FINALLY - Announcing accept any responsibility for errors or 20 / Automatic for the People 44 / Should we be scared of the the XU App! inaccuracies in such information. If new EU GDPR? 76 / Xero place for Cloud 109 / INTERVIEW - Q&A with Laura you submit unsolicited material to us, Integrators - think again! Venables, Accounting Business you automatically grant XU Magazine a licence to publish your submission in 48 / 7 Smarts Steps: To give your whole or in part in all/any editions of small business a technology edge the magazine, including in any physical or digital format, throughout the world. 50 / EVENT REPORT - Even bigger, What CFOs wonder about Any material you submit is sent at your even better: Accountex! risk and, although every care is taken, TOP WONDERS: 1 OF 6 neither XU Magazine nor its employees, agents or subcontractors shall be liable 52 / CASE STUDY - ApprovalMax for loss or damage. The views expressed Complements Xero for a Legacy ERP Check out approvalmax.com How to organise multi-step approvals in XU Magazine are not necessarily the Replacement views of XU Magazine Ltd, its editors or its for Bills and Purchase Orders contributors. 56 / BITE 2017 4 / Issue 11 XU Magazine - the independent magazine for Xero users, by Xero users. Find us online at: xumagazine.com Have you subscribed? Go to subscriptions.xumagazine.com Follow us on Twitter: @xumagazine Issue 11 / 5 sometimes surprised to learn Changing it up a GST deadline or payroll). Then that while Xero offers an online we can prioritise an inquiry if we accounting solution, we are not Increasingly, Xero customer know a resolution is needed ASAP. an accounting company where service are considering how they Currently we can automatically every employee understands the can incorporate technological suggest which customer experience ins and outs of accounting and advancements into their daily expert the case would be best bookkeeping.” work in order to streamline the handled by. Maybe it’s our report 1,000,000 process for Xero employees and for templates expert, fixed asset guru, “But to make sure we’re meeting customers. or even a legend on the team who our customers’ needs, we employ lives and breathes our subscription degree-level accountants in The team had more and more of transfer requests.” customer service. In fact, many of a need to be working proactively Helping 1 million Xero them have worked in accounting rather than just in response to “The old way of doing it was practices. As we’ve scaled to a requests and problems. The answer opening a case and getting a million customers, Xero has grown to this is anticipating customer person to read through it, identify too from an online accounting needs, like noticing and acting someone in CX who can handle the software provider to a true small upon upcoming events for them, inquiry, and sending it on to them, Subscribers business platform. We’re about or knowing what they may require not knowing they already have a much more than just accounting. help with based on past enquiries. number cases they need to work Just four years ago, Nigel Piper joined Xero as general In customer service, we help on.” people with their bank feeds, This is where machine learning manager at Xero in Customer Success. At the time, a team payroll, billing, fixed assets, report comes in. “Can you imagine, if we keep trying templates, and so much more. Xero to do things the old way, as Xero of 50 people worked in customer experience across three is such a complex organisation Nigel says, “We want to use grows past one million customers locations, assisting Xero’s 115,000 customers. Now almost now that we need experts to truly machine learning capabilities in and more? That’d be nuts.” support our customers in all of our our customer experience processes 400 employees work across 6 global offices, managed by areas that Xero operates.” to assess cases as they come in, then correlate a case with what’s Nigel, to serve the now 1,000,000 and more community of on that customer’s calendar (like Xero subscribers. N igel is not daunted by these “That was a truly awful experience, goes wrong that they get in touch.” numbers though. In fact, and I think because of it, lots he says the delight in working of support organisations I used Old hands on hand for Xero is a rare one: that the to work for would enjoy it when support team honestly love getting people didn’t contact them. If no Xero is so made in such a way that customer cases and helping the one got in touch, that was a good is is simple to navigate and use MORE PAYMENT users to get the most possible from thing.” that customer enquiries tend to OPTIONS Xero to help their business. decrease after the first “firsts”, as “Whereas nowadays and at Xero, Nigel calls them. Firsts like setting “Because Xero was born in the age we’ve got so many fantastic up a bank feed, sending an invoice, of the internet, we support our resources and content at our setting up a pay run.
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