10 Steps to Move Your Prac2ce in the Cloud

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2 10 Steps to Move Your Prac2ce in the Cloud Ian Vacin Xero, Vice President of Marke2ng & Product

3 Have Fun and Win a Tablet Learn Par2cipate Win Win a Google Nexus 7 tablet!

4 Who am I? Ian Vacin Vice President, Marketing & Product Mobile: Skype: ianvacin

5 Introducing Xero Global leader in online accounting Customers in 100+ countries, doubling year over year 300+ sta ff spread across NZ, AU, UK and US (San Francisco, Austin, Atlanta) Processed over $120B of transactions A new release every 6 weeks Unlimited users, with di fferent roles Bank feeds from 5,000+ institutions

6 Customer acquisition 110,000 First 50,000: 5 years Second 50,000: 10 months

7 Modern Platform

8 Get a guided tour Beautiful Accounting App-ortunity Collaboration Practice Management Try for yourself for free at: /signup Become a partner at: /partners

9 Modern Accounting

10 Capturing the Whitespace $ Efficiency Value add Whitespace Bundles

11 Evolution of Accounting Basic counting Token Counting Abacus Executive accounting Double-entry accounting Desktop accounting Double ledger Single ledger LONG, LONG TIME AGO ~5000 BC ~2000 BC ROMAN TIMES MEDIEVAL TIMES PRE-INTERNET INTERNET ERA MODERN ERA

12 The single ledger A collaborative approach to accounting For the advisor General ledger Management reporting Annual reporting Fixed assets Shared data For the client Invoicing A/R A/P Sales tax Expense claims Contacts AUTOMATED DAILY BANK FEEDS

13 Add-ons for your clients POS Business Intelligence CRM Time Tracking Xero Inventory Payroll Job Mgmt

14 The 115+ Add-on club!

15 Your practice. Your clients. One platform. Large Medium Business Edition Small Cashbook Ledger

16 Your practice. Your clients. One platform. Large Medium Business Edition Small Cashbook Ledger Annual Reporting Practice Management Workpapers Your tools for free

17 Your practice. Your clients. One platform. Business Edition Partner Edition Your tools for free

18 Add-ons for your practice Payroll E- Marketing Tax Partner Edition Website Bill Payment Document Mgmt

19 8. Value added services 1. Single Ledger 2. Monthly Management Reports 7. Transform to sell Game plan 3. Increased capacity 6. Proactive advice 5.Bundles 4. Improved efficiency

20 10 Steps to Move Your Practice to the Cloud

21 10 steps to Move to the Cloud Phase 1: Learn Phase 2: Expand Phase 3: Thrive

22 Phase 1: Learn Step 1: Adopt for your own practice CHANGES - Migration - Navigation - Workflow / Nomenclature LESSONS LEARNED - Target client - Client relationship - Unknowns CAPTURE THE WHITESPACE - Proactive client mgmt - Collaboration - Increased client activity

23 Phase 1: Learn Step 1: Adopt for your own practice Step 2: Identify 2-3 first clients to move FIRMOGRAPHICS - Younger (<2 yr) - Tech-savvy - < 10 employees INDUSTRIES - Professional srvcs - Creative agencies - Online companies USAGE - Macs - Smartphones - Tablets AVOID - Heavy inventory - Lots of integrations - Heavy trxn volume SITUATIONS - Write-up / Tax clients - Problem clients - Cost conscious clients TIMING - At end of year - Several months prior to end of year - After major cleanup or reconciliation

24 Phase 1: Learn Step 1: Adopt for your own practice Step 2: Identify 2-3 first clients to move Step 3: Setup, convert and learn KEY INSIGHTS - What worked or didn t? - What do clients use/value? - Where is the whitespace? QUESTIONS TO ASK - Onboard correctly? - Are we collaborating? - Client actively using? MORE TO LEARN - Proactive client mgmt - Teach client to fish - Expand the workflows

25 Phase 2: Expand For additional clients: Step 4: Establish clear rules of engagement STEPS TO FOLLOW - Make a contract - Onboard e ffectively - Be there for the client ORDER OF ACTIVITIES - Bank reconciliation - Expense claims - AR/AP invoices EXAMPLE RULES - Bank rec every morning - Pay, shoot, and claim - Invoice within 12 hours

26 Phase 2: Expand For additional clients: Step 4: Establish clear rules of engagement Step 5: Phase in value-based pricing THINGS TO CONSIDER - Be strategic, have a plan - Ask an expert - Trial and error BUNDLE EXAMPLES - Good, better, best - Minimal, typical, open-ended - Learn, evaluate, propose

27 Phase 2: Expand For additional clients: Step 4: Establish clear rules of engagement Step 5: Phase in value-based pricing Step 6: Embrace the cloud app-ortunity CLIENT APPS - Business Intelligence - CRM - Inventory - Job Mgmt - Payroll - POS - Time Tracking APPS FOR YOU - Bill Payment - Document Management - E-marketing - Payroll - Tax - Website

28 Phase 3: Thrive Step 7: Leverage practice e fficiencies Step 8: Identify ideal clients Step 9: Specialize Step 10: Re-invent your marketing And Continue to scale

29 Summary Ques(ons Thank you.

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