The coronavirus outbreak has everyone worried, from employees and small business owners all the way through to multi-national corporations. Whilst larger businesses have finance departments and IT systems in place to guide them through, small businesses may be worried about how they will cope with the pressure. Here is our guide to how Xero can provide you with the infrastructure and resources to keep your business afloat.
Xero Lives In The Cloud
Xero is a cloud-based software and that means you can access it from any device with an internet connection. This means that should the country go into lockdown or you need to go into self-isolation, you can still manage your finances easily from home. Even better than that, your accountant has access to your live data too so you can collaborate and get advice no matter where you are.
Monitor Cashflow With Xero Apps
Many of our clients have recently followed our advice and moved on to Xero to help manage their finances but only a handful are making the most of the 1,000+ app ecosystem that comes with it. Whilst many of the apps are additional costs that you probably don’t need right now, there are some cost-effective and even free solutions that could be vital to the survival of your small business
For example, Fluidly is a cash flow management solution that integrates with Xero and helps you to produce a meaningful cash flow forecast within 5 minutes. In addition to that, it has a debtor management solution built in to help you get cash in when you need it most. Best of all though, Fluidly offers 90-day forecasting completely free.
Xero has a robust business continuity plan to keep their platform online, and 24/7 support to maintain a seamless ‘always on’ experience. They have undertaken considerable planning and testing to ensure that they can continue to deliver the same level of service excellence to customers, even during times like these. You can rest assured that no matter how the next few weeks and months develop, your data is secure, safe and easily accessible by you.
Contact a member of our Cloud Team to find out more about how Xero and the app ecosystem can help you.
For any advice on support for businesses disrupted by COVID-19, please visit https://www.cottonsaccountants.co.uk/support-for-those-affected-by-covid-19