I suppose if business users are able to access these things it is a great opportunity for the members of Xero's accounting channel to be engaged to explain the metrics to them since I have difficulty with the concept that a lot of small businesses will know how to apply metrics. Of course, it's always been a question of what percentage of the accounting community is really ready to act as business advisors instead of data recorders. Years ago, I told one company that I could teach a high-school kid to calculate inventory turns and then tell a client that it needs more inventory turns to boost profitability. It is being able to advise the client on how to actually increase turns that is what is really worth paying for.
XERO LINKS TO POWER BI Featured
Xero has integrated its low-cost accounting software with Microsoft Power BI. The New Zealand-based cloud software vendor says the link will provide its users with an easier way to access and analyze information from Xero and other packages. Available next month, the link to the analytics means users can create data visualizations of the most commonly tracked 25 small business metrics, including cash position, revenue versus expenses, profit/loss trend, debtor days and return on investment.
