There are some things so terrifying you only want to do them once. Bungy jumping off a bridge. Eating ghost pepper chilli chicken wings. And in the business world, it’s switching accounting software. Even the most technologically accomplished chief financial officer (CFO) will shudder at the thought.
However, there comes a moment in the life of a company when a migration is inevitable. For mid-market firms still using outdated tools or systems designed for startups and the self-employed, it’s a question of upgrade or stagnate.
Basic accounting packages aren’t designed for mid-sized firms; they become a straightjacket. The symptoms are clear. The finance team is overwhelmed by manual duties. Crunching the data for insights is impossible. The CFO works weekends just to keep operations running.
Basic accounting packages aren’t designed for mid-sized firms; they become a straightjacket
The solution is to adopt a finance platform built for the mid-market. Xledger is tailor-made for companies that have outgrown their first accounts package. With more than 10,000 customers in 60 countries and endorsements from IDC, Gartner and the Big Four accountants, we offer a path for ambitious firms to grow without limit.
Our platform is ideal for companies in all sectors, including charity and non-profit. Multi-entity and complex corporate structures can be managed with ease by Xledger.
Automation takes care of mundane duties. Bank reconciliation, dashboard creation and reporting are just some of the tasks handled automatically. The finance team can save hundreds or thousands of hours a year.
Xledger is a complete enterprise resource planning tool. The basics include invoicing and purchase orders, billing, VAT reporting, and cash and bank payments. It also adds process and structure to the enterprise with procurement and inventory, budgeting and forecasting, and project accounting. Regulation is tighter than ever today; Xledger automates fund accounting and swathes of statutory reporting requirements.
Let’s be blunt. None of the tools designed for more basic accounting needs can handle this workload.
Our platform is a true cloud system. This means the finance team can log on from any device with a browser. During the coronavirus pandemic our clients have been prepared and able to run smoothly because of easy, secure, remote access. Furthermore, there is no maintenance for your IT team and no upgrades to install. Xledger handles it all.
Andrews Property Group, an estate management company with 49 branches across the south of England, made the switch to Xledger to liberate the accounts team from manual duties.
Brett Ford, group financial controller at Andrews Property, says: “We chose Xledger because it ticked all our boxes. The automation, the efficiency, the consolidation, and we could tell they wanted to work with us. We’ve almost finished an entirely remote implementation and I cannot fault the Xledger team who have gone above and beyond throughout.”
As Brett says, upgrading is surprisingly straightforward. Xledger manages the transition from start to finish. Every single consultant and member of our support team is a qualified accountant either ACCA, FCCA or CIMA accredited. This means your finance team will be working with experienced industry peers. Together, we’ll configure the package to suit your enterprise. We offer hyper-care during the sensitive first three-month period. It’s an all-inclusive service. Whatever you need, we’ll be there for you.
The quality of Xledger is world leading. We are hailed as a major player in IDC’s MarketScape Report for the mid-market. Gartner names us as a global competitor in its Market Guide. Our global network of partners includes PwC, BDO and KPMG.
And we pride ourselves on our culture. Founded by Norwegian tech entrepreneur Jarle Sky in 1996, Xledger has a Scandinavian work culture, taking time to win the trust of each and every client to build a personal relationship over the long term. We have no shareholders to please and will not sacrifice first-class support for growth.
For mid-market companies or outsourced accountants searching for the right finance platform, Xledger is tailor-made to be the ideal solution. The only challenge is persuading firms to upgrade.
Patience Thody, deputy chief executive of The Wildlife Trusts, puts it like this: “Often people get wedded to a system so much that when you even mention the ‘change’ word, they would probably prefer to sit with something frustrating them, rather than thinking there’s a different solution to help. It’s that whole change mindset.”
Successful firms need the right tools for the job. Upgrade to Xledger and you’ll be ready for the next decade of growth.
To find out more please visit www.xledger.co.uk/future-cfo/
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