Advice Hub

Xero Crowned the King of Finance Systems for SMEs

Insights

The results from our recent poll are in! We were curious about which finance system small to medium enterprises (SMEs) prefer. So, we turned to our LinkedIn audience for their insights, and here are the results! Xero has decisively outperformed its competitors, collecting a whopping 71% of the votes in our survey aimed at uncovering the most efficient and user-friendly finance tool for businesses.

But why do so many businesses prefer Xero?

User-Friendliness

One thing is clear: business owners love Xero’s ease of use. This system not only simplifies most accounting tasks but also makes managing finances almost a breeze.

Versatility with Apps

Xero isn’t just about basic accounting; its broad range of compatible apps allows it to adapt to various business needs, making it a robust choice for businesses that anticipate changes or growth.

Challenges and Considerations

However, it’s not all smooth sailing. Xero does struggle with period-based transactions, which can often require additional journal postings. For businesses seeking deeper insights, Xero’s basic tools might fall short, pushing them towards Excel or third-party business intelligence tools for enhanced analysis.

Sector-Specific Alternatives

While Xero leads for general use, we shouldn’t overlook sector-specific systems, which offer solutions that better cater to industry-specific tasks. These specialised systems might be a game-changer if your business has unique requirements.

The Future Landscape

The finance system landscape for SMEs is ever-evolving. Larger systems are keen to tap into this market, and interestingly, businesses with turnovers between £10-20 million may find these larger systems more suitable to their needs.

What Do You Think?

As trends shift and businesses like one of our clients move to Xero with a turnover of £13 million, where 98% of candidates supported the move, it raises a discussion about readiness and scalability. So, what do you think? Is Xero still the go-to finance system for your business?

Let us know if you have any more thoughts! Check out the original post and share your views in the comments.

More from our Advice Hub

Insights

The Truth About Salaries, Expectations, and Why Your Applications Aren’t Landing

6 min read
Published 3 months ago
Man on phone

Few topics in recruitment get people more defensive than salaries. Everyone wants transparency, but when it comes down to it, very few people are fully honest – with themselves, their...

Read More
Insights

The Job Offer Decision Checklist (That Actually Helps)

3 min read
Published 10 months ago
We Do Group water bottle in New York

You’ve got a job offer!
The excitement hits… then the panic sets in. Suddenly, you’re questioning everything from the role itself to your entire career path. Sound...

Read More
Video

Christmas Podding: Day 21 – The Commute Conundrum 🎄

Welcome back to the We Do Grotto, where today’s festive chat takes a turn into the practical...

Read More
Insights

The Biggest Hiring Mistakes Finance Leaders Make (And How to Avoid Them)

6 min read
Published 11 months ago
Employee discussion

The Biggest Hiring Mistakes Finance Leaders Make (And How to Avoid Them)
 
Hiring Shouldn’t Feel Like a Gamble – But For Many Businesses, It Does.
You spend weeks (sometimes months)...

Read More
Insights

What Every CFO Secretly Wants to See on Your Finance CV

6 min read
Published 5 months ago
Man reading a CV

Let’s be honest — most finance CVs look like they were written with the same template or just copied and pasted. “Strong analytical skills.” “Results-driven.” “Team player.” Sound...

Read More
Insights

Can We Talk About Control Freaks Please?

5 min read
Published 1 year ago

Thanks for taking the time to read this! The fact that you’re here means it’s our responsibility to keep you engaged.
To be honest, I’m writing this for myself (therapy, if you will), but the...

Read More