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Xero & iwoca: helping us and our clients to grow

At Day Accountants, there’s nothing we love more than seeing than our clients growing, expanding their operations and making a success of their business.

When we work with your company, it's about building a personal relationship and understanding what you want from life and your business. And having Xero, the Xero app ecosystem and our friends at iwoca on hand makes business advice and access to finance so easy.

As Julian Day, Partner, explained in our recent video with Xero and iwoca, it's the combination of great clients relationships and the best in cloud tech that makes us stand out.

“It's about the personal relationships that you build with clients. That's why a lot of our clients come to us – because they get that personal relationship from us, where they feel like one of the family.”

Xero as our cloud accounting foundation

We're big fans of Xero online accounting here and it's been fundamental in changing how we work with your business, how we analyse the key numbers and how we go about giving advice, support and guidance to business owners and management teams.

The main inspiration for moving to Xero was being in the cloud and being able to offer real-time reporting. Now you, and our team, have access to data at the click of a button.

The power of the Xero app ecosystem

The ecosystem of Xero apps and cloud solutions is a key benefit of using Xero, providing a whole marketplace of apps to plug into your main Xero system.

For us, it means we've got access to over 600 different business apps, fintech tools and cloud reporting utilities, and that means we can offer your business an incredible amount of variety when it comes to the right software tools for the job.

Some of the main apps we use are:

Working with iwoca and Gattuso's to grow their business

Getting access to business funding is incredibly simple with iwoca. The integration of iwoca is seamless for our current clients, so it feeds all the data in from Xero and you can get an application for finance done within five minutes.

Gattuso's is an Italian trattoria and pizzeria that does the best pizza in Cambridge (we think!). Rosaria Gattuso, the owner, is an ambitious individual, and his next step is acquiring another premises – and that's something we're helping him with at present.

iwoca is helping Rosaria with raising funds to initially fit out the new unit, which is great for him because he doesn't then have to rely on his existing cash flow.

Helping remove the cash-flow worries

Cash flow can be a big worry for many small business, so we always aim to help provide a fast and effective solution to any cash dips.

Recently, we had a client who made an application to their bank for an overdraft, which they needed for cash-flow reasons. At the same time, we also suggested using iwoca.

We filled out both applications at the same time, and by the time iwoca had come back and released the funds for the client, the bank manager hadn't even sent off the report to the underwriters at the head office – so the speed of turnaround is amazing.

The parts that make iwoca stand out from the usual banking options are the customer service and the turnaround times – you just wouldn't get that from a normal bank.

How the Xero ecosystem is helping us grow

Our practice is growing by about 25% year-on-year, and Xero has been tremendous in helping our growth, by giving us the opportunity to add more services than we currently do.

There's a massive opportunity for growth for our practice, for our clients and especially in the accounting industry itself – there's a lot of change coming about.

So it will be a good few years ahead of us, hopefully, with the chance to help many more business make the move to Xero and the power of the ecosystem.

If you'd like to find out more about Xero and iwoca get in touch for a chat.