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Insight, news and updates from Alliott NZ Chartered Accountants, Auckland New Zealand. The views expressed here are the views of the author and should be discussed in further detail should an article be relevant to your individual circumstances.

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Accounting for change: The Cloud is a good thing

Written by Vanessa Williams & Greg Millar on July 22nd, 2014.      0 comments

The Small Business Accounting industry has been through a marked change in the last 10 years. Cloud-based accounting applications such as Xero, and the add-on apps that extend its functionality, have put powerful accounting software within the reach of business owners.

As an ‘early adopter’, Alliott NZ first became involved with Xero six years ago and are now a Xero Gold Partner. We could already see the significant benefits it offered our clients. It enabled them to have a complete IT solution to suit their accounting needs at a fraction of the cost that they would have had to pay a few years earlier.

Since then, we have seen Cloud accounting apps shift the role of accounting firms from data processor to that of problem solver, business collaborator and technology advisor. Increasingly, there is less need to process paperwork because Add-ons like Receipt Bank, provide more efficient ways to capture and process invoices, receipts and expenses. More focus is placed upon helping clients improve the financial well-being of their businesses in addition to compliance work and understanding the technology landscape.

“At Alliott NZ we’ve always been there in an advisory capacity for our clients,” says Greg Millar, Director Alliott NZ. “Business owners often use us as a sounding board for their ideas and issues. Nowadays, though, they’re just as likely to ask us which Xero Add-on app they should be using as they are a complicated tax question. And we have to be prepared.”

“The time we used to spend on processing paperwork is now invested into these areas,” states Greg. “Building our knowledge and professional networks, so we can continue to provide the quality experience our clients have come to expect from us.”

“Business, too, moves at a much faster pace than it did twenty years ago because of the speed at which information is now made available,” adds Vanessa Williams, Director Alliott NZ. “With the advent of Cloud applications, we now access our clients’ data at any time, from any location using any smart device. It’s had a huge impact on the time it takes to make decisions on both sides.”

“Add intuitive interfaces and reporting tools into the mix and decision-making is more informed too," says Vanessa. “Ultimately, this helps our clients to create leaner, more efficient businesses focused on revenue generation activities.”

The Cloud is here to stay and it’s a good thing as far as Alliott NZ is concerned. It places powerful business tools into the hands of our clients and enables us to provide a richer client experience. Better for them, better for us.

For more information on how to use Xero to create a leaner more efficient business, please email Greg Millar or Vanessa Williams or phone them on +64 9 520 9200.

 

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