Square please meet Xero

April 13, 2012 — Business, Startups, Tech

Xero is beautiful accounting software. Square is the best way for small businesses to accept payments and run their point of sale. Together these two companies could do great things and revolutionize the way small businesses handle money. 

Coming from Europe I was amazed how far American banks were behind the rest of the world, but Xero can help drag them into the 21st Century. They key advantage of Xero is the ability to see your cash flow in real time and link to live bank feeds. Compare Xero to the standard accounting tools that exist today and quite quickly Xero’s features stand out.

Square is another platform that stands head and shoulders above its competition. It ease of use, elegance and functionality make it a hit with users from the first time they try it. Although I am not a small business owner I can see how useful their customized POS would be and that having access to analytics could really help grow your company. 

Now imagine these two companies having an integrated solution. The speed, ease of use, and analytical potential would be huge. Your back end bank feeds and your cash flow coming directly together in real time. Small business do not want to waste time on their accounts or loose money from not taking cards and together these two companies could really make a difference. The analytics that could be built out of having this partnership could also be very insightful for small companies. Right now most cash only companies have no idea what their best selling product is, which member of staff makes the most money for them, or when they are busiest. Having access to this data enables companies to grow and learn.

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