Construction. Engineering. Design. Education. Healthcare. Accounting. Consultancy. These are but just some of the top industries and/or businesses in Singapore that provide professional services. Now because these companies provide services instead of products, you could say it could become a little more complicated when it comes to tracking your sales, monitoring production, and of course, managing your finances.
If you have already made the decision to use Xero Singapore for your startup or existing professional service business, let us just tell you upfront that you’re on the right track. As experts in the finance and accounting industry, we here at Enterprise Global are glad to tell you that using Xero accounting software will most definitely help you in managing your company. All the challenges of providing professional services will indeed be a lot easier.
Apart from the fact that a beautiful software will help you in billing clients, analyzing cash flow, managing retainers, and generating financial reports, it can help you with the other aspects of your service business operations as well. How? Xero is actually integrated with various kinds of applications that will make running your company more efficiently and more stress-free.
Can’t really picture what we’re talking about? Then read up. Enterprise Global will tell you about the Top 5 apps that are perfect to help any business that provides professional services.
Here they are:
This app is currently the Most Popular Xero App as it is used by more than 45,000 professional service providers all over the globe. WorkflowMax is an all-in-one financial project management platform for service businesses like creative agencies, architects, contractors, and more. By using this along with Xero’s amazing features, you’ll most definitely stay on top of managing your company. Client quotes, worksheets, invoices, and financial reports are now easier to deal with, thanks to this Xero application. For more information on what it can do for you, here’s a brief summary:
- Customized reports and powerful analysis on each job
- Track costs, time, and profitability from start to finish
- Staff allocation for better monitoring of team productivity and capacity
- Share information and collaborate on projects
- Track purchase orders against job costing
- View jobs and contact clients from anywhere with your mobile device
Cash flows are generally complicated for any kind of business, let alone for companies that get revenue from offering professional services. But with a Xero app like Float, worrying how much cash will be left for you to run your company will never happen again. No wonder, Float is simply the best software you can use to efficiently forecast your cash flow. By saving time on dealing with tortuous spreadsheets, it’ll now be easier for you to forecast and make business decisions with utmost confidence. Here’s a quick look at Float’s awesome features:
- Pulls real-time financial data from Xero – no need for daily updates
- Create custom scenarios to model short and long term cash flows
- Set budgets
- Track team performances
- Get a granular view of incoming and outgoing cash
- Know exactly what your future bank account will look like
- Spot cash gaps and surpluses in advance
Once you sync your Xero account with Hubdoc, bookkeeping will definitely become a breeze. This app will simply remove the hassles of chasing financial documents like bills, invoices, bank statements, and receipts – as it will do all those for you. How does Hubdoc exactly do that? Easy. As it works with more 700 financial institutions, online vendors, utilities, and other companies, it can automatically fetch those documents for you. Hubdoc also extracts the key data you need and publish the transactions to your Xero account, complete with the source documents, of course. Amazing, right? Here are more of its features:
- Visibility to all your clients with Xero HQ
- Auto-pilot for bills and statements
- Bank-level security for your data
- Easy collaboration with clients and advisors
- Real-time document capture with your desktop, mobile, and scanner
- Robust integrations for bank reconciliations and audit proofing
- Set vendor rules
Why is it the ONLY AICPA-recommended application for receipt tracking and expense reporting? In a nutshell, all of Expensify’s features are designed to help you spend less time on data entry and reporting. It is simply a robust solution for service business owners, employees, and even your accountants. By integrating your Xero account with Expensify, closing your books will now be faster than ever. What’s more special about Expensify is its trademarked SmartScan technology which will allow you to capture receipts easily even while on the go.
So without further ado, here are some of its features that will definitely get you excited to use Expensify with Xero:
- Corporate card reconciliation
- Insanely rapid reimbursement with direct integration
- Fast import of credit card transactions
- Fast and automatic matching of receipts
- PCI-compliant security
- Advanced tax tracking
- Real-time expense reporting
- Duplicate expense detection
- Delegated access
Just knowing that Harvest is being used by more than 10,000 businesses in 100 countries can already make you thrilled to integrate this app with your Xero account. This award-winning Xero app integration makes it easy for you to track time, invoice clients, and analyze job costs with just a simple click. Also with Harvest, you would be able to streamline your billing process; thus helping your company (and your pros) get paid a lot faster. To put it simply, Harvest makes it possible for you to stay on top of your business and make sound decisions to achieve your goals.
Here are just some of the great things Harvest will do for you:
- Tailored time tracking to your workflow with desktop and mobile apps and integrations with project management tools
- Seamlessly copies invoices and payments received over to Xero
- Get insights on jobs and projects
- Efficient time tracking using any device even while on the go
- Collates raw timesheet data into a visual summary
- Easily schedule your team across projects
Using apps like WorkflowMax, Float, Hubdoc, Expensify, and Harvest with the beautiful Xero cloud accounting software will indeed help you battle the tough competition in Singapore’s professional service industry. Like what we always say, if you really want to do everything to make your business work, there’s no harm in trying helpful applications like these.