Running a business with very little experience as a startup founder is something that is very foreign to many people in Singapore. For founders who come from an education system that prepares you only to be a great employee who delivers high quality work to MNCs, most Singaporeans are not very well equipped for entrepreneurship.
Accounting is something that will require special skills that most people are not equipped with. Even for those that graduate Business school will only know very basic accounting knowledge.
Xero Accounting Software is a cloud based software that has in recent year took on a more prominent role in the Singapore economy. Xero has managed to capture a good amount of market share and is able to lead the business world in the cloud based sector of accounting software.
We will share and discuss 5 reason Xero Cloud Accounting Software can help companies run better:
Reason 1: Xero Cloud Accounting Software is used by many startups in Singapore
You might be thinking how is this going to help you run better?
Having many people on the same platform means you can perform certain parts of the business through the app and you will be able to monitor them closely. For example payment can be requested in app and you will be able to update immediately through the platform. With more people on board the platform, Xero will also be able to learn the needs of the companies in Singapore and figure out what functions to update and change when it is needed.
Reason 2: Xero Cloud Accounting Software is updated on a very regular basis
The most important part of doing a business is to have the most updated equipment and software that you can rely on. Why is that important you might be thinking? The thing about having updated software is so that you are relying on the most productive software. Time is money in the business world and this is something that many people will need to understand.
With also new inclusions there is a lot more that the startup can take advantage of to do well for the productivity of the company.
Xero does an update every other month on their core software and it includes making many interesting function standard and this helps the company and also the accounting firm to better deliver their services for businesses.
Reason 3: Xero Cloud Accounting Software works with top 3 banks of Singapore for bank reconciliation ease
We just received latest news that OCBC has started working with XERO to integrate the bank reconcilation system with XERO.
That makes all three major local banks, UOB, OCBC and DBS being partners with XERO. Most local businesses run one of this bank accounts and for startups, one of this 3 banks will definitely be your preferred choice for startup bank accounts.
Bank reconciliation is made easy with this function, saving time for your accountants and also allowing the entrepreneur to find out the bank balance of the company when they access the application to find out more about their bank details.
Reason 4: Xero Cloud Accounting Software is easy to use and learn
The strength about using Xero as your accounting software is that it is a very easy to learn software. It takes just 1 to 2 hours to figure out most of the function and there is many functions that the entrepreneur can use to improve their own business.
We will provide free training for new customers and at the same time it is available as an app on the iPhone and Android.
Reason 5: Xero Cloud Accounting Software has apps that are able to do more than just accounting
Similar to the app store of iPhones, Xero has its own app store that is able to give you additional functions that will allows to do more. Apps such as receipt bank for example helps you to scan receipts and make them into expenses documents within the software.
There are also new apps that are developed every month to help the users of Xero to improve their needs and this is something that makes Xero stand out better than the rest because of the full environment that it develops for other producers to produce software that can help businesses run better.
K Cloud Accounting is a Xero Based Cloud Accounting Services firm that is able to assist startups and SMEs to carry out accounting, bookkeeping, taxation, corporate secretarial and incorporation services.
We look forward to working with startups and SMEs as our founder is also a young founder himself.