XERO RELEASES PRACTICE MANAGER FOR THE ACCOUNTING COMMUNITY

Online practice management software release delivers efficiency and financial gains to advisors

Xero, the global leader in online accounting software, has released Xero Practice Manager, delivering online practice management capabilities to accountants and bookkeepers.

Practice Manager delivers all the key features an accountant or bookkeeper would expect from practice management software, but makes users more efficient by connecting to Xero, pulling client data in to keep contacts up to date and turning completed jobs into draft invoices in Xero. This means less moving data around between disconnected systems.

Organisations that use Xero Practice Manager can experience a faster turnaround of jobs, resulting in a reduction in the work in progress. It can also increase working capital as a result of a decrease in debtor days and improve staff productivity through streamlined work processes.

Jon Jenkins, Managing Director at Smart Accountancy Systems Ltd in Bournemouth said: “Using Practice Manager we have dramatically reduced the turnaround time of jobs, getting billing done quicker and paid faster. We can easily identify peaks and troughs in workloads and adjust accordingly. Client access enables documents and notes to be shared and stored, avoiding unnecessary email inbox overload.

“Time saved in better practice management has also enabled us to review, test, and adjust new value-driven services by freeing up top fee earners to work on the business – rather than in it.”

Xero’s UK Managing Director Gary Turner says the global launch of Xero Practice Manager is another step forward in providing a compelling and complete solution for the financial community. “Practice Manager equips accountants and bookkeepers with the tools that free them up from time-consuming administrative tasks, allowing them to focus on the important advisory role and adding real value to their small business clients,” he said

“By unifying both small business and accounting tools on the same cloud platform, accountants and bookkeepers can increase efficiency, saving time and money.”

Firms will be able to use Practice Manager as a key online tool for delivering job, time and invoice management. They will be able to connect their practice management to client accounting, become more efficient, take control of cashflow and have better visibility over their business.

Further efficiencies can be gained by using Practice Manager in conjunction with the Xero online accounting solution, improving the sharing and collaboration of clients’ financial information.

Dona Skaife, Owner and Director at WBS Accountants in Newcastle said: “Having Xero Practice Manager enables us to manage our workflow from initial prospect all the way through to the ongoing client work with ease and consistency, while avoiding repetition of data entry.

“By moving to Xero Practice Manager, we have managed create a robust method of handling our client work and job management all in one place. This helps ensure nothing gets missed and we can plan our time ahead effectively.”

Xero Practice Manager, a branded evolution of the WorkflowMax Practice Manager, is a key component of Practice Studio, Xero’s suite of tools for accountants and bookkeepers. It is available now for all Xero Accounting and Bookkeeping partners worldwide. Xero Practice Manager is available for no software license cost to members of the Xero Partner Programme who have a status of Silver and above.