With more small businesses now using digital tools to run their business, many are looking for ways to become more efficient as they grow. A fantastic trait of small businesses is that they can be very agile in adapting and responding to change. We’ve seen so many small businesses implement digital tools and grow their confidence, and we’re hearing from our customers that they’d like to be able to do even more with Xero.
More complex businesses in particular are wanting to make managing their employees easier and get deeper insights into their business performance.
I’m excited to share that customers in Australia, New Zealand and the United Kingdom will soon be able to purchase a new comprehensive Xero plan to better suit their business needs.
The Ultimate plan truly is the full Xero package. It gives small business owners access to Xero’s suite of tools to help manage their business and their people processes in one plan. The Ultimate plan includes all Xero’s core accounting features plus tools for advanced analytics, employee management and multi-currency.
Small businesses who invest in technology benefit in times of uncertainty
We know small businesses globally are looking to continue to adapt to new ways of working, and more are investing in digital tools to improve and scale their business. Our recent Xero Small Business Insights report, Picking up the pace: Trends in small business technology adoption and use shows small businesses that invest in technology are benefiting from reduced disruption in times of uncertainty and greater flexibility as they scale their business.
The report showed digitally enabled small businesses were significantly more resilient throughout the COVID-19 crisis, and outperformed their peers in most performance metrics. Across New Zealand, Australia and the United Kingdom, small businesses that had higher levels of ICT spend relative to their total spend on all expenses experienced greater sales and fewer job losses throughout the pandemic.
I’m particularly passionate about supporting small businesses to use more technology, and the right technology, to help them build a resilient business. With the addition of Ultimate, we now have more plans to suit the needs of small businesses at each stage of their journey, offering more choice, flexibility and value in their plan.
More tools to manage your people processes
If you’re an employer currently managing your team across multiple systems and spreadsheets, the Ultimate plan can help you maximise efficiency by bringing employee management tools like payroll, projects and expense claims into Xero. In Australia and the United Kingdom, the Ultimate plan includes Payroll for 10 employees, and Expenses and Projects for five employees. In New Zealand, it includes Payroll, Expenses and Projects for five employees.
Having these tools bundled into one plan can add value for employers. And because you and the millions of small businesses around the world have your own unique needs, Xero’s ecosystem of more than 1,000 third-party apps that connect to the Xero platform, can help you to build a tailored solution that is right for your business.
Gain deeper insights into your financial performance
Also included in the Ultimate plan is Xero Analytics Plus, a set of tools to help small businesses gain a deeper understanding of how their business may be performing, and plan ahead. For small businesses wanting in-depth insights and advanced cash flow forecasting, Analytics Plus provides a greater overview of cash flow and financial performance.
Displayed in two simple, easy to use dashboards, these tools help you visually project your potential bank balance 7 or 30 days into the future and get insights on your business performance, helping you to spot opportunities and mitigate risks ahead of time.
The Ultimate plan will be available at the end of May in Australia and the United Kingdom, and late June in New Zealand.