Xero Takes The Stress Our of Accounting So You Can Grow Your Business

Xero Takes The Stress Our of Accounting So You Can Grow Your Business
November 23 11:50 2016 Print This Article

Cash flow is the energy source for every business, yet staying on top of your accounting can many times become overwhelming. Russell Fujioka is the President, Americas at Xero which is a cloud based accounting solution which takes the stress of accounting away, so that you can stay focused on growing your business. Russ has worked together with Steve Jobs and has himself built a myriad of successful businesses which has given him first hand experience into how businesses grow and thrive. I had the pleasure to speak with Russ about what Xero can do to keep your business running at full speed. Here’s what we discussed:

Jay: Accounting is the heartbeat of every company big and small. What are some of the elements Xero provides businesses with to help them better handle their accounting?

Russ: One of the most beneficial components of Xero is the fact that we are completely cloud based. The ability to have access to all your company’s financial data in one place is extremely valuable. What’s more is the fact that all Xero clients have full access to our entire staff, which means that you have the value of an in-house accountant 24 hours a day, 365 days a year. We’re on top of all regulations that relate to almost any size business and in whatever industry you’re working in we have someone who can give you all the advice you need. The regulations are always changing and to add an accountant who’s extremely qualified to stay on top of it all can be extremely costly to your payroll. With Xero, you can focus on running your business stress free knowing that there’s an expert a click away.

Jay: There’s no question that having all your financial data in one place is extremely valuable. But are there functions that go beyond that which Xero uses to help a business run more efficiently?

Russ: Great point, Jay, and the answer to your question is absolutely yes. I’ve seen so many businesses struggle simply because they fail to execute on their invoicing. Let’s face it, sending out invoices is time consuming and staying on top of them can become frustrating. However, having your cash flow up to date is the lifeline of your company. With Xero you can automate when invoices should be sent out as well as setting reminders to remind you to follow up.

Jay: Everyone today talks about the millennial workforce and how catering to millennials can become challenging. What effect does Xero have on the way millennials work?

Russ: I’m glad you brought that up, because I think there is a big misconception about what it means to relate or cater to millennials. So many people I’ve spoken to have this idea that millennials don’t want to work as hard and come to work in jeans and flip-flops. I can tell you from my experience that this is absolutely not the case. There’s no question that millennials work hard, however I think the social media mindset that we live in has changed how they work. We recently did a survey to better understand what makes millennial entrepreneurs tick. I wasn’t surprised to see that the results showed that 79 percent millennial respondents value a healthy work-life balance over money, and having free time to pursue other passions and travel is how they measure success. Also, the fact that information is at your fingertips in a matter of seconds has created a mindset of instant access to information. In many ways that’s a great thing, and in fact because of it they constantly want to know more about what they’re doing. To cater to that you need to be able to provide an atmosphere that enables them to dig deeper into what they’re doing and become more knowledgeable and better at doing it. With Xero, you can collaborate with experts in every area of accounting and get direct answers from real people at every step of the way. In addition, because everything is cloud based, employees can work from home so they can be around for their kids, or do work over the weekend, if needed. Instead of having to come into the office to catch up on work, you can login from wherever you are. Millennials don’t work any less, in many cases they just work differently and having the right flexibility will give millennials the ability to perform to their full capacity.

Jay: In the social media dominated world that we live in today, social media has played a tremendous role in how businesses operate and grow. What impact has social media had on Xero?

Russ: You’re absolutely right and social media has transformed so many aspects of business. I remember working with Steve Jobs and hearing people tell him that he was crazy! One of the biggest challenges he faced was the fact that he was marketing to the PC market, which at that time was just a mere 1 percent. He didn’t have social media to work with and he was literally changing the world. Today we create conversations online for our brand. We want to hear what the experience users have as well as any critiques they have. I had a woman approach me in tears telling me how Xero helped her be a single mom and stay employed in a large CPA firm. We play close attention to the feedback we get and to date we’ve made over 1,400 changes to our software based on reviews we’ve gotten. Social media is an incredible tool and no matter what industry you’re in, the ones who are smart in how they use are the ones who will succeed the most.

russRuss Fujioka has made a career out of building companies and their brands and is the President of Xero Americas. Bringing early stage companies to full velocity, changing historical brands and engineering new business models. Russ has started his own business, sold businesses as well acquiring new businesses. He has taken many companies to liquidity events. Changed economies has shaped the way business is now run. With companies from zero revenue to $1B in billings, Russ is driving marketing and demand generation for over $50B in IT revenue. His passion is to be surrounded by people that share his DNA for building successful businesses. From Cloud to 20 years of Enterprise software to Infrastructure, on premise, off premise and hybrid the world of technology continues to change. Developed and launched inaugural Dell World event, leading to the gathering of over $52B in IT thought leadership.