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

How to Market Yourself as an Interim Finance Professional

3 min read
Published 2 years ago

Navigating the waters of interim finance requires more than just a keen sense of numbers and analysis; it demands a proactive stance in marketing oneself. Let’s delve into practical...

Read More
Insights

If I Wanted to Find the Best Recruiters, This Is What I’d Look For

4 min read
Published 2 months ago

If I stripped everything back and ignored the branding, the content, the claims and the noise, this is the question I’d ask:
Are they actually good at getting people jobs?
Because when you remove...

Read More
Video

The Real Reason Your Temps Don’t Last – And How to Fix It

You’ve just hired a temp. They’re brilliant. They’re not only speeding through...

Read More
Insights

Hiring in 2025? Here’s What Candidates Actually Care About (It’s Not Just Salary)

5 min read
Published 1 year ago
2025 in hand

Hint: If You Think Salary Alone Will Seal the Deal, Think Again.
Once upon a time, hiring was simple:

Offer a decent salary.
Give them a job title that sounds important.
Hope they stay for five...

Read More
Video

Christmas Podding: Day 16 – Handling Resignations in December 🎄

Welcome back to the We Do Grotto, where the tinsel is tingling, bells are ringing, and the...

Read More
Insights

What is the “best” accounting qualification?

3 min read
Published 2 years ago

At We Do Group, a recruitment agency specialising in finance and accounting professionals, we frequently encounter the debate over the “best” accounting qualification. Recently, we...

Read More