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Maximize Client Value: How Bookkeepers Can Leverage Xero for Powerful Advisory Services (Sponsored by Xero)
By Erika Dowell, CEO of Signal Operations and Xero Ambassador
Clients are looking for more than just compliance—they want strategic guidance and insights to help them navigate financial decisions. Bookkeepers, with their intimate understanding of client financials, are uniquely positioned to help business owners from tax strategies to business growth strategies.
Xero’s ecosystem is designed to help accountants and bookkeepers offer data-driven insights efficiently and on a regular basis. The ease of Xero Reporting as well as the integration with Syft Analytics will help us bookkeepers continue to grow.
Here are some of the tools that I specifically use to help my clients:
→ Financial Reporting & Analytics
By using Xero's P&L and Business Snapshot, we can quickly identify trends and anomalies, allowing us to proactively address potential issues with clients. I recently started implementing Syft Analytics to give a dashboard to my clients to see what they want to see!
→ Cash Flow Forecasting
The Short-term cashflow report gives a quick thirty day insight into how money will be moving. If you want a longer forecast, Syft's extended capabilities, provides clients with the foresight they need to make informed investment and spending decisions.
→ Budgeting & Scenario Planning
I encourage all my clients to use some type of budget in their business. It helps stay aligned on goals and ensures cash flow isn’t running away!
Offering advisory services isn’t just about the numbers—it’s about delivering value and building trust. By leveraging Xero’s insights, accountants can move from being reactive to proactive, helping clients make smarter financial decisions before challenges arise. Businesses appreciate accountants who go beyond compliance and act as strategic partners.
Integrating these value-add services doesn’t have to be complicated or a big project. Start small and start simple.
→ Adjust the Xero reports to include comparison information – add columns for year-over-year or month-over-month performance.
→ Ask 2-3 clients to be a beta group while you find your footing. Try new things and ask for feedback. Then, start expanding that to other clients - and don’t forget to price your new services!
Advisory services are a powerful way to grow your practice while delivering greater value to your clients. With the right tools—like Xero—you can offer data-driven insights efficiently and effectively. By embracing advisory services, you position your firm as a trusted partner in your clients’ success.
Are you ready to enhance your advisory services? Xero regularly hosts free webinars to help you leverage the platform to help you grow your practice and support your clients.