How Can Xero Help Your Company?

February 25th, 2018

How Xero can Help Your Company

Company purchases are a big part of the decision making process at any organisation. It all boils down to how it can maximise efficiency and ultimately, help your company to create more value. Here’s a list on how Xero can be one of your company’s greatest assets:

Controls and reporting

With a variety of integral controls and reports, Xero helps users – and their advisors – scan and recognise updates that have been made to financial data, and discrepancies or irregularities in the data. This aids in reducing the risk for all parties, while helping confirm that businesses are working with precise data.

Multiple reports to monitor activity

Xero offers an assortment of reports that can be used to track activity, authenticate the veracity of data, and understand and tackle issues. The Journal Report archives transactions that have occurred in the general ledger. The report displays each journal and the user who created it, and can be exported to a spreadsheet to find specific users, dates or actions.

Consultants can also present a list of the history and notes activity to see a synopsis of actions and notes chronicled in Xero for an organisation. This record helps provide a route of user performance.

Access controls

Password protection

All Xero accounts are password protected and clients can invite an infinite number of users into their account to work together on their data, but the individual who holds the subscription has control over who has access and their activity. Since unlimited users are permitted, shared passwords are unnecessary, reducing risk and improving accountability, since there’s an exact record of who did what against each transaction.

Two-step authentication

Xero employs two-step authentication, where verification of identity for access to Xero syndicates two constituents: something you know (your password), and something you possess (your phone).

Two-step authentication verifies your identity as a customer logging into Xero by requiring you to use an existing password, and an exclusive code, randomly generated by the Google Authenticator app on your smartphone, each time you log in.

Monitoring and alerts

View last logged in details

Xero displays when a user last logged in and where they logged in from to help make security front of mind for all users, on the main dashboard. More information on recent login activities is also available, including when you logged in and where from. This helps users identify if their login credentials have been used unsuitably. Moreover, Xero operators can view a list of current users who’ve logged into the organisation with details of who has log ins, their times, and frequency.

Proactive email alerts

Xero can also proactively email users when it senses unfamiliar login behaviour in their account – whether it’s activity from a different IP address, physical location, device or browser than usual. Besides being able to view such information on the dashboard, email alerts help warn users of uncommon activity without them having to login to Xero, helping to make any unusual activity discernible.

So, if you’re looking for accounting software with a difference, make sure you look into Xero and its endless list of benefits. For more information and to get a quote, contact Sixteen today.

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