What do we know?
We’ve been paperless since 2004, cloud based since 2012, Xero experts since 2013, and early adopters of innovative technology since our inception.
What is the cloud?
Are you using Linked In or on-line banking…? then you are already operating cloud technology. In fact cloud software started nearly 20 years ago with Hotmail in 1996. It’s a term used to refer to software that you access via the internet from a supplier who maintains it on their IT hardware as opposed to yours. In business, that software use usually comes at a fixed monthly cost, and is commonly referred to as “SaaS” (Software as a Service).
What is a VFO?
A Virtual Finance Office replaces your traditional internal accounts office with one that requires no office space, furniture or accounts staff, and requires very little computer equipment. It is a software system constructed within the cloud, highly automated and uses the minimal amount of labour. A financial accounting package sits at the heart of this system carrying out all of the core bookkeeping functions and, because this is in the cloud, it seamlessly integrates with numerous best-of-breed process management packages, or “apps”.
How does our VFO work?
“Xero” forms the heart of our cloud based VFO. It’s a user friendly accounting package and, unlike Sage and other similar traditional software packages, it is designed around the “non-accountant” so it is really easy to use. We then integrate “apps” to Xero. Accounting apps are add-ons that integrate with Xero and carry out various industry specific process management tasks like inventory management, or EPOS till software. It is the integration of the appropriate suite of apps that creates your bespoke Virtual Finance Office, particular to your type of business. Our bookkeepers will then spend a limited amount of time on the minimal reconciliation remaining after all the automated systems have done all their work.
What’s in it for me?
- Security and reliability – because it’s cloud based there are no back-ups, no licence upgrades, no duplicate files, no server problems, no downtime and no recovery process from disasters.
- Scaleable – your business can keep doubling in size with no additional expenditure or upgrading to your finance function required. No need for new servers or infrastructure, training costs or capex commitments. Just add new users to the VFO at no more cost than a device to get them connected to the net.
- Access – from any device with internet access, even your smartphone… Users no longer need to be in the office at their pc’s to enter data or obtain management information.
- Collaboration – multiple people can work on multiple tasks simultaneously, making information production quicker, more accurate and cheaper. You no longer have to sequentially process wages, vat, expense claims etc. They can be done by different people from different locations all at the same time (eg your bookkeeper from home, employee on the road, accountant in his office etc.).
- Cost – it slashes your existing finance function costs by up to 80%. There are no upfront software purchase costs, no expensive server infrastructure capex, just simple monthly payments. It also has its own document management system allowing you to use it as an on-line filing cabinet for your sales invoices, supplier bills, statements, letters, in fact any computer file or image. So you can eliminate the cost of maintaining your filing system.
- Integration – Xero sits in the accounting world as the smartphone does in the mobile world. Phone apps make the latter an amazing modern day device we now cannot live without. Xero’s apps do exactly the same thing (a server based system like Sage is a Nokia 6210:). It is these apps that connect to Xero to create your VFO and produce truly awesome processing and reporting power.