The global accounting software market topped $8.94 billion in 2016 and is predicted to grow at a rate of 9.13% between 2016 and 2022 to reach $15.10 billion by the end of 2022. This shows that most businesses are shifting from using manual accounting processes to computerized solutions to keep up with the times. You can keep yourself updated about the latest trends in the business accounting industry to select and effectively use the most suitable system for your requirements.
In this article, we analyze the main features and benefits of Xero and compare them with those offered by leading alternatives. Xero is a favorite financial collaboration system that is widely used by small businesses in multiple industries. Accountants call it a handy asset for managing financial activities. Our experts found it to be a user-friendly solution that offers an array of top-ranking features to solve accounting challenges.
Xero is described as a software solution that has revolutionized the digital accounting sector. Users say this app has been developed with the user experience in mind and offers the exact accounting features they need.
The best part about Xero is even lay users will find it easy to manage. It makes even complex work such as double bookkeeping simple to handle for novices. For this reason, the app has become a prominent brand name in the accounting software market. If you have not hired the services of a bookkeeper, do not worry, as you can count on the assistance of the vendor’s certified advisors.
Xero is a company based in New Zealand and its accounting product has become popular in the US, UK, European, and Australian markets. Today, the company operates 20 global offices and it has won many awards for its high-quality software and services.
Xero is used by more than 475,000 sole and business accountants. The app integrates seamlessly with leading third-party solutions and accounting systems. If you have simple needs, you can start with the basic Starter plan for $25/month. However, if your needs include more number of quotes, invoices, and bills as well as multi-currency features, then you can subscribe to the premium packages. The vendor offers a handy 30-day free trial you can use to check out the features before you shell out your money.
If you are looking for a wider choice, we have got you covered as we also analyze the main benefits of top Xero alternatives. We provide you valid reasons why you should consider Xero instead of the alternative application and vice versa.
FreshBooks is one of the top Xero alternatives in the market. The vendor also offers a great free trial plan if you’d like to try out the key features first. You can easily sign up for FreshBooks free trial here.
What makes FreshBooks stand above the competition? To start, it is a fast and reliable accounting solution that makes financial management a fun activity. Businesses benefit as they can easily manage recurring subscriptions and invoices, and collect online payments using this single system as it facilitates credit card, PayPal, and Google Checkout payments. Plus, it integrates smoothly with leading business applications to streamline this process. You can unite financial control with this single platform, which means you don’t need to invest in multiple software solutions. To give you more options, we provide viable FreshBooks alternatives here.
Why use FreshBooks instead of Xero?
Why use Xero instead of FreshBooks?
QuickBooks Pro is a professional office-based edition of the popular accounting software. It tracks both clients and vendors, and manages all banking-related tasks in an effortless automated fashion. You can opt to buy either one-time multi-user licenses or pay for annual subscriptions. Plus, you can avail discounts by subscribing to their promotions and updates. Existing customers who already subscribe to one of the QuickBooks Pro products can seamlessly upgrade their package without extra charges. If you want more choices, take a look at these good QuickBooks alternatives here.
Why use QuickBooks instead of Xero?
Why use Xero instead of QuickBooks?
Wave Apps is a well-integrated platform that combines accounting, receipt scanning, and invoicing into a single compact package. It is an ideal solution for startups and small businesses as well as self-employed professionals such as consultants, freelancers, and entrepreneurs.
Wave is easy to set up and use. Its dashboard is simple and very navigable, and displays the needed info clearly. The app simplifies accounting and invoicing processes, and makes it simple to track expenses, chase payments, and manage taxes and employees. You can create and send professional receipts, estimates, and invoices in seconds. Plus, its tracking features help you stay on top of your operations. For more accounting options, browse these good Wave alternatives here.
Why use Wave instead of Xero?
Why use Xero instead of Wave?
Intacct is an efficient cloud-based accounting system designed for the needs of small and medium-sized companies. This app is reliable and offers a well-planned suite of features. It has been selected by the AICPA as a top provider of financial solutions to CPAs. Professionals can use this program to make smart financial decisions based on accurate stats and figures. It is an ideal software product for fast growing industries such as retail, wholesale distribution, and healthcare that need active financial monitoring. Plus, the app connects smoothly with popular systems such as Salesforce, Development Sandbox, Clarizen, and Paychex. To give you more choices, we present viable Intacct alternatives here.
Why use Intacct instead of Xero?
Why use Xero instead of Intacct?
Brightpearl is a multi-channel retail management platform that enables businesses to manage core activities such as handling orders, inventory, accounting, reporting, and customer data using a single system. It is designed to help multi-channel retailers speed up their growth and profits. The tool offers real-time reports on cash flow, inventory, customer buying behavior, profitability by SKU and channel and more. Retailers can use this app to effectively control their operations and focus on important tasks such as merchandising. If you wish to look at other options, browse these good Brightpearl alternatives here.
Why use Brightpearl instead of Xero?
Why use Xero instead of Brightpearl?
Zoho Books is a smart accounting solution created for growing companies Small businesses can use it to manage their finances and cash flow. The app is easy to use and enables you to make intelligent, data-based decisions. Since it is part of the Zoho stable of products, you don’t have to worry about uptime, security, and support. With this app, you can send professional invoices to your clients and receive payments online. The product is handy, robust, and fast, and can help you maintain full control over your company’s finances. However, if you think it is too basic for your needs, check out good Zoho Books alternatives here.
Why use Zoho Books instead of Xero?
Why use Xero instead of Zoho Books?
NetSuite ERP is a comprehensive and scalable cloud ERP product designed for the needs of fast-growing small businesses as well as large enterprises. The app automates front- and back-office processes including: inventory management, billing, order management, fixed assets, revenue management, and financial management. Plus, it enables all employees from top managers to clerical staff to view customizable reports on key performance indicators for their role. Finally, this ERP module integrates smoothly with other NetSuite software such as eCommerce, CRM, inventory, and order management tools. If you wish to look at more options, read about viable NetSuite ERP alternatives here.
Why use NetSuite ERP instead of Xero?
Why use Xero instead of NetSuite ERP?
FinancialForce Accounting for Salesforce is easy to learn and use. It is a simple yet robust cloud accounting product that enables small and large businesses to make their operations more efficient with just a small investment. The highlight is this system features the Salesforce Accounting app, which utilizes the flexibility and power of the Force.com cloud platform; the net result is you get a productive and cost-effective solution that goes beyond basic transaction processing and bookkeeping. Plus, FinancialForce Accounting integrates with Salesforce CRM to help teams work in unison, and use one record system for greater efficiency and consistency. If you wish to look at more solutions, read our viable FinancialForce Accounting alternatives here.
Why use FinancialForce Accounting instead of Xero?
Why use Xero instead of FinancialForce Accounting?
Sage 50 is an easy-to-use desktop accounting solution that is ideal for growing small businesses. The product is also scalable for the big accounting needs of large enterprises. It offers standard accounting features such as: cash flow management, bill payments, accounts payables, and accounts receivables. Plus, it also provides advanced tools such module-level security and inventory management. You can also add options for credit card processing and payroll services to manage your finances. The vendor offers mobile apps for Blackberry, Android, and iOS devices, and the product functions smoothly with leading productivity tools such as Microsoft Word, Excel, and Outlook. To give your more selections, we provide good Sage 50 alternatives here.
Why use Sage 50 instead of Xero?
Why use Xero instead of Sage 50?
Bento For Business is an expense management prepaid debit card designed to help small businesses identify and totally eliminate sources of cash leaks that hamper their finances, maximize their budget while making their spending transparent and every party accountable. This prepaid debit card makes it easy for you to manage and control your spending, ensuring that your business’ expenses are well documented while operational costs are reduced.
With Bento for Business, you can assign debit cards per employees with their corresponding purpose, amount, and limitation. For instance, one employee is assigned a debit card to cover his or her travel expenses, which could be limited to transportation fare, accommodation, and airplane tickets. Utility cards can also be provided for utility expenditures such as gas and electricity. Bento for Business provides you with extreme flexibility on how you manage your spending while ensuring that you remain in control of how much your company is shelling out.
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