Top 5 benefits of using CostTracker’s purchase order system with Xero

Xero has built its reputation on “beautiful business,” and CostTracker shares this commitment to simplicity and efficiency in procurement and cost control. From day one, our mission was to develop a beautiful integration with Xero that allows businesses to manage purchase orders and budgets with ease, speed, and precision.

With CostTracker’s plug-and-play integration, you can connect to Xero in just a few clicks. Plus, signing up for a CostTracker trial is seamless with Xero login—enabling you to get started in minutes. Here are the top five benefits of using CostTracker’s purchase order system with Xero.

Benefit 1: Easy setup and user-friendly integration with Xero

CostTracker is designed with user-friendliness in mind, making integration and setup quick and painless. Here’s how we ensure ease of use:

• Plug-and-play setup: Integrating CostTracker with Xero takes just a few clicks, with no need for complex IT configurations.
• Sign-up with Xero: Get started with CostTracker by signing up directly with your Xero account, eliminating additional account setup steps.
• User-friendly interface: CostTracker’s intuitive layout means your team can navigate, create purchase orders, and track budgets without extensive training.
• Keeps procurement separate from accounting: Many accountants prefer that employees don’t access the main accounting system. With CostTracker, teams can handle purchasing independently, keeping accounting secure and workflows streamlined.

By combining CostTracker’s simplicity with Xero’s ease of use, businesses can manage procurement workflows with minimal effort and maximum control.

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Benefit 2: Seamless data syncing with Xero for accurate cost tracking

Accurate budget tracking is essential, and CostTracker’s real-time data syncing with Xero makes it easy:

• Automatic data sync: Masterdata and financial data are synced between CostTracker and Xero in real time.
• Cost control from the very beginning: Track costs from the moment a purchase is planned—not just when an order is placed—helping you maintain budget oversight from the outset.
• No double entries: Data flows effortlessly between systems, eliminating the need for duplicate entries.
• Reliable budget monitoring: Continuous syncing provides accurate, up-to-date financial records, essential for budget oversight and audit compliance.

This seamless data integration ensures accurate, consistent financial records across both platforms, enhancing your ability to track and manage budgets confidently.

Benefit 3: Full procurement visibility and control with CostTracker and Xero integrated

With CostTracker’s real-time tracking, you can gain clear visibility into procurement and make proactive, data-driven decisions:

• Track costs in real-time: See budget updates instantly and monitor spending from planning through payment approval.
• Proactive financial control: With real-time budget tracking you will always see the budget effect of approving a purchase, a great way of avoiding overspending.
• Detailed audit trails: Easily review the full history of each purchase order, including approvals, modifications, and transaction details through deep links that connect CostTracker and Xero.

These real-time insights keep finance teams informed, enabling proactive decision-making while maintaining full accountability and control.

Benefit 4: Streamlined purchase order approvals and compliance

Approving purchase orders can be a time-consuming task, but CostTracker automates and streamlines this process:

• Automated approval workflows: Approvals are routed automatically to the correct stakeholders, speeding up the procurement process.
• Built-in compliance: Each approval aligns with internal policies, ensuring compliance without additional steps.
• Easy access to updated information: CostTracker users will have access to real-time data, based on their user roles, making it easier to share valuable procurement information to the team.

Automated workflows save time and reduce errors, allowing teams to focus on high-value tasks while maintaining compliance effortlessly.

Benefit 5. Advanced AP automation and cash flow forecasting

When integrating CostTracker with Xero, you gain access to an advanced invoice module that uses machine-learning OCR for AP automation. This feature offers:

• Smart invoice processing: CostTracker’s machine-learning OCR captures invoice data automatically, minimizing manual entry.
• Automated 3-way matching: The system matches invoices with purchase orders and receipts, ensuring accuracy before payments are approved.
• Cash flow forecasting: CostTracker automates cash flow forecasting, tackling one of the trickiest areas in finance. By tracking purchases from planning to payment, you get more accurate projections for cash flow needs.

This advanced AP automation and forecasting capability simplifies accounts payable and helps prevent cash flow issues by providing accurate, up-to-date financial insights.

Conclusion

CostTracker’s integration with Xero is purpose-built to deliver user-friendly, efficient solutions for managing purchase orders, controlling budgets, and simplifying procurement. Key benefits include:

• Ease of use: Quick setup with plug-and-play integration, plus Xero sign-up for a seamless start.
• Real-time data syncing: Ensures accurate, up-to-date budget tracking.
• Instant procurement visibility: Real-time tracking and detailed audit trails enhance control.
• Automated approval worklows: Streamlined workflows reduce manual effort and improve compliance.
• Automated invoice processing: Smart OCR for AP automation simplifies invoice management and ensures secure payments.

With CostTracker and Xero, businesses can streamline procurement, improve budget oversight, and drive decision-making with simplicity and precision. Ready to see the benefits? Start your free trial today by signing up with Xero or book a demo to see how CostTracker can transform your procurement process.

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