Being a cloud-based phone system for small businesses, we’re naturally big advocates of other cloud-based business solutions, and this month we’ll be shining the spotlight on Xero.

An accounting software system designed for small businesses, leading the New Zealand, Australian and United Kingdom cloud accounting markets with over 2M subscribers in more than 180 countries. 

Accountancy is a critical aspect of any business, regardless of size or growth stage. According to Xero, many businesses still struggle to get a handle on finances - about 70% have cash flow difficulties at some time. 

But, managing your business finances doesn’t have to be difficult, or a labour intensive task that you dread. Utilising cloud-based tools can have a hugely positive impact on the accountancy tasks of your business. In fact, the digitalisation of accountancy has been a lifeline for many businesses navigating their way through continued unsettling times.

CircleLoop's integration with Xero, provides a complimentary business tool that can provide further support by streamlining workflows and simplifying communication with customers and suppliers - improving productivity and efficiency. 

Benefits of Using Accountancy Tools

Time-saving features

Accountancy tools have a variety of time saving features that can benefit your business, and with tools like Xero, you can have every aspect of your business finances all in one place. 

Because accountancy tasks can be repetitive automation is key - some statistics suggest that 75% of accountancy tasks can be done through automation. So if you’re not using an accountancy tool, you probably should be! 

By automating tasks like triggering repeat invoicing or monthly reporting you’ll have more time to spend on other parts of your business. Plus, data that you’d normally manually input and check can be automatically recorded - like employees' expense claims. They’d automatically be synced with your accountancy tool. 

Accessible Anywhere

The main advantages of cloud tools are in the name - they’re in the cloud, meaning that the software can be accessed anywhere, and on any device with the right credentials. Meaning that you would no longer need to manage spreadsheets or install programmes onto one machine. By just logging in you’ll instantly get access to all your business finances. 

Digital Finances

The pandemic has highlighted the need for the digitalisation of business finances - during COVID-19 74% of small businesses used government funding to keep going, but in order to access the funding businesses had to have financial statements to show cash flow, revenue and payroll. Therefore, it’s likely that businesses that kept their finances up-to-date will have found this slightly easier to action than those that didn’t. 

Integrate with other Business platforms

There has been a 20% increase in small businesses adopting cloud technology during the pandemic, compared to 2019. We saw this ourselves - many businesses found themselves without a phone system they could access from home and therefore utilised CircleLoop thereby making sure their business stayed connected. Another of the many benefits of cloud technology is the ability to integrate with other tools to aid productivity and streamline workflows.

Find out how our integration with Xero works below:

What Does CircleLoop’s Integration with Xero Do?

Synchronise Contacts

The CircleLoop Xero integration imports contact information from your Xero organisation. As you add, update or remove contacts in Xero, those details will be synchronised with CircleLoop so you'll always know who's calling. 

Log Call Details, Call Recording and SMS Messages

When you make a call to a Xero contact through CircleLoop, information relating to that call is logged in Xero as a Note. Additionally, CircleLoop will update your Xero contacts with information about call recordings and SMS messages. 

Invoice Management

You don't have to leave the Xero platform to speak to clients - calls are made in-app, which means you'll have better oversight of your invoices, customers and sales. Easily track history and contact dates whilst you're talking to a contact. 

Plus, if you have the CircleLoop Chrome extension installed, you will be able to make CircleLoop calls to your contacts directly from Xero. Details of the call are then logged in Xero.

Read more about setting up the Xero integration on our integration help page.