We are big fans of using analytics and cash flow forecasting to ensure the future of your e-commerce business. Today, we’re looking at Xero Analytics Plus, a new tool for Xero users, giving you the details on its features and how it can help your e-commerce business.
Xero is the number one accounting system for e-commerce stores but the abundance of new releases on the Xero App Marketplace can make it hard to know which tools are right for your business. Here’s the lowdown on Xero Analytics Plus’ features and its pricing.
What is Xero Analytics Plus?
We previously discussed Xero’s move from offering cash flow forecasting through its app marketplace to creating its own in-built tool, Xero cashflow forecasting. They then followed this up with a partnership with reporting tool Syft in 2020.
Now, Xero has launched Xero Analytics Plus, the next step in their evolution of cash flow management and analytics. It combines “short-term cash flow and business snapshot features” with increased accuracy and customisation.
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Features included:
- A clean and intuitive dashboard makes forecasting easy regardless of your accounting experience.
- View bank balance projections 7, 30, 60 and 90 days in the future for diligent and effective planning.
- See predicted future recurring transactions alongside your existing bills and invoices.
- Manually add/remove transactions to project how certain changes could affect your cash flow i.e., what if you become VAT registered, what if tax rates rise etc.
- Analyse trends in custom date ranges for your business, giving you a comprehensive snapshot of your performance.
- Find out why and how Xero’s predictions came about.
How can Xero Analytics help you?
Keeping an eye on cash flow levels and the effects of possible changes is essential for the health of your business. Not only will the information help you to make informed decisions, but it will also allow your e-commerce accountants to help you scale in a more effective way. Not only will Xero Analytics give you the data, but it will also give you actionable insights to help you on your way.
How much does Xero Analytics Plus cost?
There are two versions of Xero Analytics – to partner Xero Analytics Plus, they have also released a free version, simply called Xero Analytics. While it hasn’t got all the bells and whistles of the Plus variant, its free access means all e-commerce entrepreneurs can benefit whether they are just getting started or well established.
Free Xero Analytics Plus to help your business during COVID
Xero offered a free version of the standard analytics package during development as a helping hand to business owners during COVID. As an extension of this, they have made Xero Analytics Plus free until 31st January 2022 for all entrepreneurs on a Starter, Standard or Premium plan.
All our clients receive a Xero standard package as part of their monthly fee so will qualify for this deal.
Next Steps
If you want some guidance on how to scale your e-commerce business or need help transferring your current accounting system to Xero, get in touch with our team who will be happy to help. A successful e-commerce business needs a solid foundation, and we can help you lay down those initial bricks and build them into something spectacular.
The best time to act is now.
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Breakout E-commerce accountants and Xero specialists to supercharge your UK online business growth.
