By Jaspreet Lally, head of outsourcing at RMT Accountants & Business Advisors
The start of a new financial year is often the catalyst for businesses of all sizes to review how they manage their financial systems, and consider whether improvements could benefit operations and the bottom line.
With HMRC’s Making Tax Digital drive becoming ever-more all-encompassing, the software that companies use to manage their financial responsibilities is one area that is becoming increasingly important.
This might be for reasons relating to cost, functionality, efficiency or access to better management information, or a combination of all four.
Whatever the reason, there are clear benefits to be had from making sure that the system chosen continues to meet businesses’ evolving requirements.
For some, there may be a hesitation around changing software, often due to the perceived logistical nightmare of moving financial data from one platform to another.
However, with the support of RMT, the process of doing so is remarkably painless, and we have been successfully carried out Xero migrations for a growing number of firms for many years, both regionally and across the UK.
The software is suitable for businesses of all sizes and sectors and we often receive great feedback about the significant time, cost and reporting benefits resulting from the move – indeed, our clients have found the decision to move a positive one that they wish they had made earlier.
As a cloud-based system, Xero also provides faster access to up-to-date financial information, enabling more timely and informed business decisions.
We have a tried and tested process in place for helping our clients work their way through every stage of the migration.
This begins with an initial exploratory phone call to understand how the business operates and identify the key areas for improvement.
From there, we map out the migration process step-by-step, including advice on any customisations or add-on applications we believe would be useful to aid business operations and reporting.
A date is then agreed for the migration, typically aligned with the end of a VAT quarter or financial year end, to enable a clear break within the records and to allow a clean start to be made on Xero.
Once the necessary information is received, the migration itself can be completed within just a few days.
A bespoke training session is arranged which is provided by the expert RMT Outsourcing Team to ensure that the client’s finance team is fully equipped to make the most of everything that the Xero platform offers.
This training is individually tailored and can be carried out on-site, remotely or at our offices.
Ongoing support is also provided, ensuring any queries or issues are resolved quickly and that your business continues to maximise the value of the system.
In addition, our Xero Healthcheck service is available for businesses already using the platform, offering practical recommendations to help both existing and new users improve the way they utilise the system.
For further information on migrating your business’s financial data onto Xero’s cloud-based platform with the help of RMT Accountants & Business Advisors’ expert Outsourcing Team, please contact Jaspreet Lally on 0191 256 9500 or visit www.r-m-t.co.uk