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Xero Moving Up the Value Chain

MOVING UP THE VALUE CHAIN Cloud Based Management AltusQ, Australia's leading leadership and business coaching firm wanted to know if moving to the cloud actually provided tangible Return on Investment (ROI), and if so, what do you need to do to maximise it? To find out, we surveyed 15 practices that have moved their practice to Xero Practice Studio (XPS), Practice Management applications built and designed for the Partners of Xero, the leading developer an supplier of cloud based solutions for financial services. KEY FINDINGS INCOME RATE OF RETURN NET CASHFLOW PER CHARGEABLE PERSON XPS delivers tangible 388% $36184 Y1 Y1 improvements that $29724 Y2 Y2 result in a significant return on investment. 119% 66% $4000 $-4000 Growth Adv. Growth Growth Adv. Growth START UP GROWTH ADVANCED CLIENT STAGES 3 Participants 9 Participants GROWTH lack of clients + revenue excellent internal 3 Participants Participants surveyed were communication huge focus on winning + transacting work controlled and focussed placed into three stages: new clients to business growth growing revenue multi-tasking with very broad job descriptions excellent productivity an eye on business growth feeling calm, confident partners workingʻon' the business, not 'in' the business partners doing every task in the business ACCELERATED GROWTH frustrated; disillusioned focus on doing more than planning poor staff productivity; profitability IMPLEMENTATION OF XPS * IMPLEMENTATION INVESTMENT (per Chargeable Person) Cost savings was a major goal in Cost($) Cost($) Time(Hours) Time(Hours) 50,000 200 5,000 20 making the switch to XPS. 37,500 150 3,750 15 25,000 100 2,500 10 12,500 50 1,250 5 0.5 weeks for the Start Up practices A A В В 2.5 weeks for the Growth C practices 5 weeks for the Advanced Growth practices External Admin A Start Up Internal Other CP B Growth Partner C Adv. Growth REVENUE START UP GROWTH ADVANCED GROWTH Y2 70% All participants reported Y2 90% Y1 55% gains in client numbers Y1 20% 40% Revenue and a deepening of client Pre-implementation 0% Pre-implementation Derived relationships post the From 92% implementation of XPS. Fixed Fees increase of 350% Y2 75% Y2 48% Y1 55% Y1 8% 30% 0% Pre-implementation Pre-implementation Clients On 98% Fixed Fees increase of 544% EFFICIENCY The improvement in average debtor days resulted in an improved working capital of: The improvement in WIP resulted in an improved working capital of: Transitioning to XPS saw improvements in both Average Debtor days and Works in Progress (WIP). $11,242 $9,946 per Chargeable Person per annum. per Chargeable Person per I...... annum in Y2. ANTICIPATED REALISED VALUE BENEFITS BENEFITS BENEFITS halved time to do year-end improved workflow accessibility work papers + reporting higher profit margins seamless integration The anticipated benefits of revisions down to 10 minutes moving to XPS were access from anywhere not fully; moving in the right direction improved billing process improved visibility + structure largely realised: transparency great database mobility; real time interaction yes hugely more efficient efficiences; no data entry invoice immediately fully realised increased value of client work integration with add-ons efficiency streamlined process yes better quality clients wanted Xero Practice Studio eliminate file double handling more efficient none reported live data confidently advise client Implementing Xero Practice Studio deliver valuable benefits to practices. It can provide a healthy ROI within two years, whilst completely transforming the way a practice (accounting or bookkeeping) operates internally and externally with clients. AltusQ xero We bring passion to strategy & strategy to passion %24

Xero Moving Up the Value Chain

shared by HollernDesignCo on Jul 28
AltusQ, Australia's leading leadership and business coaching firm details how moving to the cloud can help with management and ROI. This infographic gives an in depth analysis.


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