Xero, a cloud-based accounting software company, rolls out a new integrated inventory tracking feature and an online quoting capability targeting small businesses. Xero Accounting is one of the companies offering cloud accounting services in Singapore.
In an interview for Small Business Computing, U.S. products and solutions general manager Jamie Sutherland said that Xero, by popular demand, released a new inventory feature as part of a recent update to their cloud accounting software. Unlike updates of other businesses performing outsourcing services in Singapore, this upgrade from Xero accounting wouldn’t cost a penny to their clients.
Taking Stock of Retail Sales
Although not a substitute for completely featured inventory systems handling major retail operations, the new stock inventory tracker still helps small businesses in increasing their income opportunities by seamlessly incorporating the sale of goods into their operations.
Sutherland noted that small businesses like yoga studios that supplement their main revenue generators with retail sales can track inventory in real time. He added that Xero inventory generates reports that provide a clear picture of inventory levels. In this way, businesses will be able to monitor and manage their stocks in response to demand, thereby improving cash flow, and all the while keeping an eye on their financial well-being. Customers of Xero accounting can also quickly add managed items to invoices and to “Online Quotes”, another new feature.
Nevertheless, Sutherland admitted that a lot of customers that have heavy inventory needs will have to use an add-on inventory system, which is available in the Xero add-on workplace.
Xero also rolled-out Online Quotes, a feature which enables small business owners to create estimates on the spot and through any mobile device. Online Quotes saves time by providing contractors, salesmen and other accounting service providers the platform to come to an agreement quicker.
Sutherland reported that early feedback are encouraging. He noted that Online Quotes increased the business velocity in which small businesses operate by helping them to an agreement quicker.
Xero also added a tweak which even if seemingly minor, would make bookkeeping services easier. A new side-by-side file view will eliminate jumping from one tab to another. It’s just like when viewing a scanned receipt and at the same time using another window for input.
Lastly, Xero is now integrated to more financial institutions. The new update supports an additional 1,691 bank feeds, making the total stand at 7,000 feeds involving more than 5,000 banks.
With these additions, it is expected that Xero accounting will be able to provide more accounting services Singapore.