When Wink integrates with Xero, you save time and money
Xero accounting software does a lot of heavy-lifting for your business. Did you know that when it joins forces with Wink Reports, the benefits to your business go even further? Everything boils down to the data and how you harness its power.
From Xero to hero with Wink
Xero makes it easy to collect your raw business financial data. It saves time by automating tasks that used to be tedious and manual (like bank reconciliations). Financial transactions and some of the master data, for e.g. Customers, Suppliers and Employees, flow seamlessly back and forth between the two when you use add-ons. However, you can’t report on add-on-specific data within Xero itself.
Ideally, managers should access this information so they can track important business metrics such as employee productivity, job metrics and sales effectiveness; but manually drilling into Xero and an add-on just to collect the information and copy it into a spreadsheet, is super time-consuming. You also risk compromising the integrity of your data…
And here’s where Wink steps in to do all the hard grafting and reporting - that’s the missing link in the process with four ways to save you time and money.1. Drill down into Xero with customized, real-time reports
The process is simple: Wink Reports sources your data from Xero, other add-ons and cloud services; then it provides you with real-time, customized reports that accurately show exactly what’s going on in your business. Bonus point: since you can access your reports on a tablet or mobile device, it means you’re not stuck at your desk fiddling with spreadsheets for hours on end.2. Track Employee Productivity
Keen to dig into your employee productivity levels? Let Wink Reports connect to your employee timesheets in Xero, plus the billable hours logged in your job management system (such as ServiceM8 or WorkflowMax). It will send you a report that gives you an easy view of the percentage of each employee’s logged time on the job that is being used for billable services with your customers. Time, effort, saved!
3. Compare Actuals with Budget and more
Xero provides excellent reporting options - the Budget Manager tool is great at reporting on which parts of the business are managing to keep within, exceed or underachieve on predetermined levels of financial effectiveness. That’s a mouthful, a bit like all the data to be stored in the process. Xero just doesn’t have the capacity to store some financial data, like CAPEX budgets and custom cash flow forecasts. How Wink Reports gets around that is by providing a data entry feature to calculate and store these values, which we then add to your Xero financial information for cross-function and trend reporting. Score!
4. Liquidity Measures
Liquidity refers to the availability of assets that a business can easily convert into cash. Money in the bank and trade debtors (customer invoices awaiting payment) are excellent examples of this, but what about your work in progress? The value of work completed but not yet invoiced is just as important as cash. So, when Wink includes it in your liquidity reporting, it offers a more complete picture of your future cash position. That means you’ve got eyes on all the money!
Keen to harness your powerful financial data?
These practical applications of Wink’s integrations with Xero and any number of add-ons you use for your business finances are really four examples of business intelligence - and it can all be yours! It really doesn’t matter what type of business you have - Wink Reports provides a simple, flexible, cloud-based solution for turning your raw data from Xero into useful, meaningful business information.
So, if you’re not in the habit of being limited by imagination, we invite you to harness your business intelligence with our help through this powerful integration. We have our consultants and partners standing by to work with you to tailor reports to your specific needs.
Take advantage of our 30-day free trial and get ready for some major money and time savings for your business.
How has data helped you move your business forward? Leave a comment to share your insights with other business owners.
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