The software provider said the feature gives small and medium-sized businesses control of their sales workflow and allows them to easily collaborate with their advisers to scale their business without ever having to leave their accounting platform or pay for costly add-ons.
Xero’s chief executive, Rod Drury, called ‘Quotes’ a step in a journey to establish Xero as the complete platform for small businesses growth.
“As online accounting is starting to exceed the features of desktop software we’re now able to look specifically at how to help small business make more money. Robust and integrated processes around quotes and estimates are a great way to improve small businesses' performance,” he said.
According to Xero, the feature enables small businesses to:
• Improve visibility of their sales pipeline: A quote can be tracked through its lifecycle, making it easy to create, manage and follow up outstanding quotes, before they can easily be turned into invoices for billing. By providing better management, Xero users have more opportunities to secure more work for their business.
• Rapidly respond to business opportunities: Quotes can be created anytime, anywhere - even on the customer’s site. Xero makes it easy to create a new quote, copy a previous quote, or to convert a quote into an invoice. Fast turnaround of quotes improves the likelihood of winning new business - and getting more time to work on tasks that add value.
• Get paid faster: Using quotes allows small businesses to agree terms with their customers, reducing ambiguity and ensuring that everyone is clear on what is to be delivered, and when the job is to be paid. Integration with Xero’s invoicing capabilities ensure that work can be seamlessly tracked and charged for. The end result: small businesses get paid faster.
• Sell value not hours: Agreeing on a price for a job up front allows small businesses to concentrate on selling value not time.
The feature is available now at no additional cost as part of Xero’s small business accounting solution.