BT successfully demonstrates Xero at the BT Business Experience in London
on: July 23, 2009, 8:15 am
Industry: Internet & Online
BT Business has launched a new web-based accounting
application, to replace the complex software blighting smaller firms,
forcing their employees to work longer hours.
The launch of Xero, a new online tool designed for firms and their advisors, is supported by new
research by BT Business which finds that almost 50 per
cent of smaller business staff work extra hours to clear their current workloads,
with 41 per cent admitting that they actually waste work time because of poor
technology and systems.
Accessible from any internet or mobile connection, Xero is aimed at helping
businesses access, update, review and control their finances in the downturn
anywhere, from any device. The simple, software-as-a-service (SaaS) package will
provide customers with 24/7 secure online access to bank transactions, invoices,
reports, VAT returns and management reporting.
Chris Lindsay, general manager at BT Business applications, said: "Customer
feedback is that traditional accounting packages are complicated to use, and can
only be accessed while in the office. As a result, managers put book keeping off and
spend too many late evenings or weekends in the office. Owner managers tend not to
be finance experts, and dread having to file their accounts with these systems. The
research shows that employees are working harder and longer during the downturn
anyway, so we hope that Xero users will instantly be more productive and redress an
often dire work/life balance."
Xero is available as a free 30 day BT Business trial. Features include a real time
dashboard of a firm's transactions, online accrual to keep book-keeping up to date,
daily bank reconciliation function, web-based accounting from anywhere with an
internet connection, expense claim processing and reporting for financial advisors.
Andrew Sandiford, head of Business Advisory and Assurance at Target feels that Xero
eliminates all the problems of not feeling 'part of the client's business' for
his accountants: "With Xero, you can access a client's accounts at any time. More
importantly, you know you are looking at the same 'version' of the accounts as the
client because there is only one ledger. Xero is fantastic for us, as it means we
can offer 'real-time' advice, basing our recommendations on the up-to-date
financial data we can see."
Delivered as SaaS, Xero can also be implemented quickly without the upfront licence
fees, maintenance or upgrade costs associated with on-premise software. Cloud computing applications like Xero
reside online and are accessed by a simple web browser. Businesses only pay for the
resources they use.
BT Business provides everything from handsets to applications to help smaller firms
work, share and manage common operational processes including Ribbit for Salesforce which is designed to improve sales team productivity, eSignature and CRM systems
salesforce.com, Netsuite and SugarCRM.
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