You’ll know by now that we’re big fans of Xero online accounting software. And if you caught our recent blog, you’ll also know all about the power of financial technology (FinTech) solutions for expanding the efficiency of your business systems.
Xero’s a brilliant financial hub for any brewery. But it comes into it’s own when you add some bespoke FinTech plug-ins (or Xero Add-ons in Xerospeak) and create a brewery-focused business system that’s totally tailored to your industry, your brewery processes and the functionality you need in this sector.
So we’ve ploughed our way through the 450+ solutions in the Xero Add-on Marketplace to find the top three Add-ons for brewery owners.
Chaser: Minimise your bad debts
Late payments can be a problem for any business. But in the brewery sector, where cash flow can fluctuate so greatly, bad debt can have a real impact on the overall health of the brewery.
And bad debt is only part of the issue. There’s also the time you spend chasing up customers, reviewing your debtor tracking and trying to speed up those late payments before the debt hits your cash-flow forecasts.
Chaser is an Add-on that integrates with Xero and completely automates your debtor tracking and credit control.
- Full integration with your Xero caccounting software.
- Automatically chase those outstanding invoices and get paid faster by your customers – giving your cash flow a real boost.
- Create bespoke emails that are sent out automatically to customers when your invoices are due – reducing your bad debts.
- Keeps track of all your email communications and attaches copies of the outstanding invoices, saving you even more time on admin.
Market invoice: Receive immediate cash payment for invoices
Boosting your cash flow can be a big help when running a brewery – with so much cash tied up in your production and logistics, having a way to bring extra money into the business quickly can be a real life-saver.
Market Invoice is a solution that buys your invoices from you, so you get the cash up front – and they then collect the outstanding amount directly from your customer.
How does it work?
- You apply online – fill out Market Invoice’s online form, share your company details and agree to the terms.
- Upload your invoice – once uploaded, the invoice is reviewed by the Market Invoice team and prepared for trading.
- Trade goes live – once checked, your invoice is then put up to trade in one of Market Invoice’s twice-daily trading sessions.
- Draw down – once sold, your funds are received in one working day, instantly providing that much needed cash.
If your cash flow situation is looking poor, or you’re looking for more finance to fund expansion and growth, this is a great way to raise money fast.
FUTRLI: Understand profitability and product margins
Having a great overview of your costs and margins is vital if you’re going to remain in control of the profitability of your brewery.
And the easiest way to do this is to combine the financial foundation of your Xero accounting software with the power of business intelligence and forecasting software.
FUTRLI is a Xero Add-on that opens up a whole new world of business information to your brewery. It integrates fully with Xero and pulls through all your transactional data into beautifully designed, visually engaging representations of your important business information. Create ‘boards’ for every aspect of your brewery, from customer
- Create ‘boards’ for every aspect of your brewery, from customer numbers to cost margins, payroll costs to logistics spending.
- Put metrics in place and set clear targets and KPIs so you can track your performance, spending and profitability.
- Create short and long-term forecasts for different elements of the brewery, and keep on step ahead of the game with this deeper business intelligence.
Request a free demo of these apps
If you’re starting to see the huge potential of using these Xero Add-ons, why not try them out and start seeing the benefits they could bring to your brewery.
Get in touch to book a free demo of any of these Xero Add-ons – and bring a whole new world of software to your brewery.