If the majority of your clients are using Xero as their accounting software, there are over 1000 apps on the Xero App Store that can you can use to streamline processes and deliver a more effective virtual finance function to your clients. Some add-ons can even enhance the data within Xero, ensuring easier reconciliation and better account hygiene.
With so much choice it can be hard to know where start, that's why we've done the legwork to bring you five of the best Xero apps to support you in offering an outsourced finance function:
Dext: Dext is your best friend when it comes to bookkeeping automation. With Dext, you can easily capture and categorise receipts, invoices, and bills, as well as create and track expenses. This can help you save time and reduce the risk of errors. By using Dext, you can ensure you never miss an invoice or receipt and reconciliation is a breeze.
Chaser: Chaser helps you automate the accounts receivable process. You can send automated payment reminders and overdue notices to customers, as well as track the status of invoices. This can help your clients get paid faster and improve cash flow, whilst saving you heaps of time and effort.
ApprovalMax: ApprovalMax is a top-performing app that streamlines the AP approval process. Its automated workflows tighten spend control and reduce the risk of fraud, while its comprehensive audit trails provide enhanced visibility and accountability. Using ApprovalMax brings an additional layer of protection to your approvals process that can take your outsourcing service to the next level.
Telleroo: Telleroo is your secret weapon when it comes to making supplier and payroll payments for your clients. Connecting Telleroo to Xero allows you to create whole pay runs in a few minutes and reconcile in just one click! Telleroo saves you hours every week, de-risks payments and reduces errors by cutting out manual data entry.
Fathom: Fathom provides personalised management reports and three-way cash flow forecasts that allow you to equip your clients with powerful insights into their business performance, giving you the tools you need to become a strategic advisor to your clients without spending hours in Excel.
Overall, these Xero apps can help you streamline your financial processes and work more efficiently. By automating manual, time consuming tasks and providing insights into financial performance, these integrations can supercharge your outsourced finance function. Don't forget to check out our guide to the key services you should include in your virtual finance offering.
We've put together a guide to launching and growing a virtual finance function your clients will love, you can download your copy for free here.