What is Xero?
Industry Specialties: Serves all industries
Benefits and Insights
Key differentiators & advantages of Xero
- Low Cost: Xero offers users a free trial. Once the trial period ends, pricing is subscription based with subscription packages starting at $9 a month.
- Easy to Use: The system’s interface is easy to use, enabling users to address a variety of accounting tasks without hassle.
- Integration: Xero is compatible with more than 700 add-on solutions, allowing users to customize their system capabilities to meet their specific needs.
- Saves Time: Data tracking and report templates allow users to streamline the time-consuming process of creating regular reports.
- Payroll: Xero integrates with Gusto to provide payroll capabilities across 50 states.
- Banking: Connecting to the user’s bank allows Xero to automatically track and facilitate transactions on a daily basis.
- Expense Management: Seamlessly track and manage expense claims. Users also have access to real-time data and reports that provide insight into patterns and trends.
- Project Management: Fully integrates with other workflows to facilitate financial project management.
- Mobile App: Mobile capabilities allow users to track bank transactions, send invoices, access supplier details and more from any mobile device.
- Reporting: Users can generate and share custom reports and budgets in real time. Xero assists with this further by providing users with report templates, making it easier for HR managers to prepare a variety of reports.
- Asset Management: Xero assists users with managing business assets such as vehicles, computers and office equipment and helps with tracking factors such as depreciation.
- Forecasting: The forecasting feature allows users to prepare simple cash flow forecasts based on historical data.
Average customer reviews & user sentiment summary:
of users would recommend this product
Synopsis of User Ratings and Reviews
Based on an aggregate of reviews taken from the sources above, the following pros & cons have been curated by a SelectHub Market Analyst.
Xero’s users say it’s easy to use and has good accounting and bookkeeping capabilities. Most found the price to be acceptable, with some complaints about issues they ran into while trying to switch to a lower pricing tier. More than 70% loved the customer service and felt their representatives were extremely helpful. It has a range of features including band feeds, invoice creation, integrations and reconciliation processes. The reconciliation was particularly popular with over 80% of reviewers who mentioned it describing positive experiences.
One issue with the system came in making updates to invoices after they’d been saved. Some users said they were sent prematurely to clients or claimed to have difficulties changing the data at a later date. Many also felt that the implementation process for the new platform was difficult, but that once they learned where things were they felt comfortable. This may be a good choice for small and medium businesses. Larger companies should consider a system that’s able to handle a higher volume.
Based on 2520 reviews: