Xero Offers Helping Hand to lift NFPs to the Cloud

SPONSORED ARTICLE: Online accounting software company Xero, a provider of online accounting software, has pledged its commitment to help organisations that help others.

Xero is offering a 25% discount on its Business Edition accounting software through xero.com to better serve Not for Profits and help them stay fiscally organised.

Xero, which serves customers in over 100 countries across the globe, worked with a panel of NFPs and their accounting counterparts in New Zealand, Australia and the United States to learn more about the business issues that impact them the most and how cloud accounting and Xero can help.

Xero found the number one problem NFPs and their financial advisors face is the management (or mismanagement) of cash flow, often as a result of lack of financial capability.

"Not for Profit organisations face a unique set of challenges and with the introduction of the Australian Charities and Not-for-profits Commission (ACNC) as a regulator to drive standards and improve efficiencies in this sector, the industry environment in Australia is on the verge of growth and change,” said Chris Ridd, managing director of Xero Australia.

“Xero is working with our NFP customers and their accountants to help manage reporting, cash and financials so they can focus on their cause, not their books."

Will Macgregor, director of Bushmob, an outreach program in Alice Springs that works with young people to get their lives back on track, said Not for Profits face unique organisational challenges as they must balance their size and funding constraints and serve a Board of Management.

“If you are small and poorly funded, it’s challenging to find a finance manager who understands your financial limitations and can deliver quality reports and budget advice in an easy and timely manner. The advantage of using Xero is the ease of access and quality of reports. We can access our finances anytime, anywhere, even in Alice Springs.”

Morri Young, managing director of Matrix on Board, a for-profit consultancy that specialises in financial management and support to Not for Profit organisations said: “Our NFP clientele don’t always understand the impact of poor financial management. The cloud-based nature of Xero means that they can collaborate to rectify errors without giving up control or responsibility. It’s been great to watch them gain control over their finances and see these organisations prosper.”

To learn more about how Xero can directly help your NFP read our blog post:
http://blog.xero.com/2012/08/the-not-for-profit-high-wire-actand see xero.com/nfp for more information.

Xero.com has over 100,000 paying customers and 240,000 users in more than 100 countries around the world. Xero’s Australia team is headquartered in Melbourne.
http://www.xero.com/