Prior to implementing Xero we didn’t have a single overview of the group as a business but only individual country P&L’s and we had issues with the tracking of inter-entity transactions. Using Xero were able to consolidate the country accounts under one external accounting services provider with the support of an India accounting service provider to manage the very specific requirements and intricacies of the India environment.
Multiple partners wanted to be able to easily see our accounts ‘live’ across the group for each individual country and have a consistent treatment of costs and revenues in each country as opposed to having the each country being treated slightly differently by multiple accounting service companies.
Xero is simple to review and read, integrates well with our bank accounts and helps give us a clear view on our ongoing cash flow position. It also improved our compliance levels by ensuring inter-company transactions were being treated consistently rather than having to consolidate multiple accounting software’s at a group level.
