Xero: Enhancing Small Business Analytics With Syft
Now an even more indispensable tool ...
Posted by Alison Mead on 07/10/2024 @ 8:00AM
In a strategic move aimed at bolstering the reporting and insights capabilities for small businesses, Xero has announced its acquisition of Syft, a prominent cloud-based platform known for its robust analytics and visualisation features ...
Xero is set to become an even more indispensable tool for small business owners!
This acquisition is poised to elevate the user experience for Xero customers, enabling them to harness deeper insights into their financial data and make well-informed decisions. By integrating Syft's functionality, Xero plans to offer enhanced capabilities to both small businesses and their accounting partners.
"Syft allows you to create beautiful and informative custom reports!"
Currently, Syft is celebrated within the Xero App Store for its beautifully crafted custom reports and comprehensive visualisation tools, making it the most utilised reporting app on the platform. Its accolades, including multiple Xero Awards across various countries, highlight its effectiveness and the favour it has garnered among users.
As Xero continues to cater to a diverse clientele, maintaining Syft as a standalone offering is crucial. This approach ensures that users, regardless of their current accounting software, can benefit from Syft's acclaimed insights, paving the way for a more informed business environment.
The future trajectory of Xero with the incorporation of Syft is optimistic. Both entities share the goal of providing exceptional customer value through powerful insights. Syft's existing features encompass a range of advanced reporting capabilities, including live analysis views with drill-down options, benchmarking, budget forecasting, and consolidated financial data analysis across various platforms. Such features not only complement Xero's existing offerings, but also promise to significantly enrich the user experience.
Xero's vision extends to integrating Syft's capabilities onto its own platform, thereby providing customers with seamless access to advanced reporting and visualisation tools directly within the Xero ecosystem. By embedding these features, Xero aims to elevate its analytics offerings, enabling efficient cash flow forecasting and facilitating multi-entity reporting.
Moreover, Syft's ability to aggregate data from diverse software tools—including popular platforms such as Stripe, Square, Shopify, and Gusto—will enhance the overall Xero experience. This integration will empower small businesses and their financial advisers by offering a holistic view of their performance.
Encouraged by such developments, users can expect to make more informed decisions, positioning their businesses for growth, despite the volatile economic landscape!
As Xero embarks on this exciting journey with Syft, it remains committed to an open ecosystem. The company acknowledges that its customers have varied needs, and thus intends to continue supporting other analytics providers. This will allow users to select the solutions that best fit their unique requirements, ensuring that every customer finds value in the offerings available.
Xero's acquisition of Syft is not merely a strategic expansion, it is a transformative step towards providing small businesses with powerful insights and improved reporting capabilities. With this collaboration, both Xero and Syft are on a path to redefine how accounting software serves small enterprises, which promises to create lasting benefits for all its users.
Xero is set to become an even more indispensable tool for small business owners.
If anything I've written in this blog post resonates with you and you'd like to discover more about the bookkeeping and accounting abilities of Xero and the reporting tools of Syft, it may be a great idea to give me a call on 01604 217365 and let's see how I can help you.
Alison loves bookkeeping and supporting bookkeepers. She has been helping clients to be better bookkeepers in Sage 50 for over 24 years and has been Xero Accredited in accounts and payroll for a number of years too.
She specialises in a very unique hand-holding method of training, helping bookkeepers and business owners to use their accounts software as and when they need support in setting up and producing their invoices, reports and financial information.
Alison combines her role at Silicon Bullet with her Forever Living network marketing businesses and is often to be seen at business networking meetings as she likes to keep busy.
You know what they say: if you want something done well ask a busy person!
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