By Xero Members Here’s what an all-in-one software solution can do for your practice 10 Jan 2024 This content is brought to you by Xero. Practices across the UK have shown incredible adaptability by embracing a digital tax system and adopting cloud-based software. However, many practices aren’t reaping the full rewards of software – using it purely as an accounting solution and not a practice-wide management tool. It’s like buying a top-of-the-range bicycle, but only using the first gear. If you haven’t fully integrated your software, you could be missing out on a whole suite of practice management and client management tools. Features that save you time and make your service more valuable for clients. Many practices end up in a position where they have to implement different tools to serve different clients. The result is a disconnected set of programmes, manual processes, and client dependencies that create even more work for you and your team. Traditional practice workflows can then seem like a complicated jigsaw puzzle. You may find you’re piecing together multiple systems and programmes, dedicating hours to manual data entry, and engaging in lengthy back-and-forths with clients to capture missing data. Breaking free from old habits and processes isn’t easy. But failing to fully integrate your software could leave you stuck with: Manually tracking and assigning tasks and deadlines Chasing clients for evidence by email and phone Spending hours on manual data entry from client records Constantly training staff on expensive legacy software Duplicating data entry across programmes Modern practices need more than just cloud bookkeeping and accounting software to keep business ticking along. You need cloud compliance, practice management and ecosystem software that fosters collaboration with clients, helps you manage practice workloads, and delivers reliable and accurate data that’s easy to interpret. This doesn’t mean you need multiple software packages. With a single end-to-end platform, such as Xero, you can manage the entire practice and client base in one place – compliantly, securely and efficiently. Data passes seamlessly through the software, and you don’t have to walk the tightrope between multiple programmes and tools. Admin is easily automated, saving you time and improving the accuracy of your accounts. Reconciliation is fast and automated – bank rules and cash coding automate reconciliation and unburden your practice of manual data entry. Data is accurate, reliable and timely, and you can use it to enhance your advisory services. Reports and forecasts are generated based on your digital records – so you can count on them for real-time insights. An end-to-end solution swaps clunky tools and processes for one simple software package. In our latest guide on practice evolution, we share how you can use Xero’s cloud-based software to its full potential. We highlight the unique advantages of running a digital practice, and break down the individual tools and features that can save you time and improve your services. You’ll learn: Which existing systems and processes may be hindering your growth The long-term benefits of running a digital practice How to build a practice workflow that works for everyone (team and clients alike) How to use the Xero functionality you know and love for your own practice Read our practice evolution guide This content is brought to you by Xero. Xero offers a cloud-based accounting software platform for small and medium-sized businesses..