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Winstanley Kerridge:

Our Xero Story
Neil Sinclair (Director)
• Who is Winstanley Kerridge?

• How we selected Xero

• Why we implemented Xero

• How we implemented – What NOT to do!!
...
What we are not
Who we are
Our online
presence
Our online
presence
Our online
presence
Our online
presence
Vision
Our strategy
To be the most successful professional firm of
Chartered Accountants and advisors providing
Marlborough...
WK summarised
WK systems 2011 style!
• Xmas 2010 $250k investment in new IT platform

• Network software changed to Windows Server 2008 R2

• AO started crashi...
RFP process explained
Identify vendors
& link to strategy
Determine
functional
specifications
Prepare RFP
Issue RFP
to vend...
RFP process explained
Additional
reference
checking
Vendor
negotiations
Contract
confirmation
Implement
STEP THREE : Confir...
• CRM

• Client Database

• Client GL & FA

• GL Reporting
Commercial

• GL Reporting Agri

• Work Paper Mgmt

• Tax Retur...
What does a functional specification look like?
RFP process explained
We identified 1968 “unique or critical” features in ...
What does a 

RFP look like?
RFP process explained
Three key objectives we identified
• Make us more efficient

• Allow us to provide better services to our clients

• Provide ...
Three key objectives we identified
• Make us more efficient

• Allow us to provide better services to our clients

• Provide ...
Three key objectives we identified
• Make us more efficient

• Allow us to provide better services to our clients

• Provide ...
• Some of our current processes are stale

• Some of our current processes are inefficient

• Inefficient processes often the ...
So we asked our clients
Client feedback
A new strategy
YIYOC PIPOMs
A new strategy
Compliance
Factory
YIYOC
Event
Gap analysisConsulting
Execute C+
PIPOM
Compliance
Factory
YIYOC
Event
Gap analysisConsulting
Execute C+
PIPOM
Event
Gap analysis
Value Added
Service
Mgmt
Reporti...
Compliance
Factory
YIYOC
Event
Gap analysisConsulting
Execute C+
PIPOM
Event
Gap analysis
Value Added
Service
Mgmt
Reporti...
• Potential for efficiency

• Achieve PIPOM strategy

• Provide us with better quality management information
Why Xero?
Thre...
Why Xero?
Implementation
• Assemble project team

• Determine needs & write RFP

!
• Evaluation completed

• Board sign off and staff ...
Our lessons
• A full project and change management plan

• Don’t use a Director as Project Manager – hire a specialist

• ...
A tip or two
Our challenges
• Partial take up still

• Tension between the teams

• Efficiencies not being realised

• Senior staff strugg...
Year one will hurt
But there is hope
Intangible benefits
• Full Xero clients – much higher service levels

• Tax planning becomes simple!

• PIPOM clients enga...
Compromises
• Reporting Quality

• Rural had to stay on AO, consistency of appearance
Hindsight
• Probably waited a year – to get off the Bleeding Edge!

• Better project management

• Cultural change effort si...
Hindsight
• Probably waited a year – to get off the Bleeding Edge!

• Better project management

• Cultural change effort si...
The future
• Xero is a given (while they are market leaders)

• Transition - more move Full-Xero Clients

• Xero farming Q...
Questions & thanks
Winstanley Kerridge: Our Xero Story - Xerocon 2014
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Winstanley Kerridge: Our Xero Story - Xerocon 2014

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Winstanley Kerridge: Our Xero Story, presented by Neil Sinclair (Director) at Xerocon Auckland 2014.

Xero is beautiful online accounting software that connects small businesses and their accountants together in the cloud.

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Winstanley Kerridge: Our Xero Story - Xerocon 2014

  1. 1. Winstanley Kerridge:
 Our Xero Story Neil Sinclair (Director)
  2. 2. • Who is Winstanley Kerridge? • How we selected Xero • Why we implemented Xero • How we implemented – What NOT to do!! • The Ugly Year – Xero Year One • What does year 2 look like? • What does our future look like? Presentation Overview
  3. 3. What we are not
  4. 4. Who we are
  5. 5. Our online presence
  6. 6. Our online presence
  7. 7. Our online presence
  8. 8. Our online presence
  9. 9. Vision Our strategy To be the most successful professional firm of Chartered Accountants and advisors providing Marlborough with outstanding service levels of business and financial support and advice. Mission We are Chartered Accountants dedicated to providing the highest quality services to meet the business and financial needs of our clients.
  10. 10. WK summarised
  11. 11. WK systems 2011 style!
  12. 12. • Xmas 2010 $250k investment in new IT platform • Network software changed to Windows Server 2008 R2 • AO started crashing every day • Support response from MYOB did not meet our expectation • 1st Xerocon in Taupo Feb 2011 • Had to move debtors off AO in March 2011 – moved our internal accounts to Xero • Instability and significant productivity loss Jan – Jun 2011 period • Desire to test the Market – had been with MYOB for over 15 years • Decided to use Request For Proposal (“RFP”) process What forced the change
  13. 13. RFP process explained Identify vendors & link to strategy Determine functional specifications Prepare RFP Issue RFP to vendors Score functional specifications & price Reference checking Complete scoring matrix Run vendors presentations STEP ONE : Work out what you want STEP TWO : Evaluate Responses
  14. 14. RFP process explained Additional reference checking Vendor negotiations Contract confirmation Implement STEP THREE : Confirmation
  15. 15. • CRM • Client Database • Client GL & FA • GL Reporting Commercial • GL Reporting Agri • Work Paper Mgmt • Tax Return Preparation • Tax Mgmt • Efiling • WTTC Calculation • IRD Integration • Tax Intermediary Integration • Budgeting/ Forecasting • Trust Mgmt • Companies Mgmt • Payroll Bureau / Internal Pay • Workflow Planning/ Scheduling • Document Mgmt • Timesheet Mgmt • Invoicing • Debtors • Creditors • Mgmt Reporting RFP process explained
  16. 16. What does a functional specification look like? RFP process explained We identified 1968 “unique or critical” features in our Func Specs!
  17. 17. What does a RFP look like? RFP process explained
  18. 18. Three key objectives we identified • Make us more efficient • Allow us to provide better services to our clients • Provide the directors with better quality internal information ! Four vendors identified • MYOB (AE) • APS • Acclipse (now CCH) • Xero Modern Practice ! Software evaluation process
  19. 19. Three key objectives we identified • Make us more efficient • Allow us to provide better services to our clients • Provide the directors with better quality internal information ! Four vendors identified • MYOB (AE) • APS • Acclipse (now CCH) • Xero Modern Practice ! Software evaluation process
  20. 20. Three key objectives we identified • Make us more efficient • Allow us to provide better services to our clients • Provide the directors with better quality internal information ! Four vendors identified • MYOB (AE) • APS • Acclipse (now CCH) • Xero Modern Practice ! Software evaluation process
  21. 21. • Some of our current processes are stale • Some of our current processes are inefficient • Inefficient processes often the result of software not being used fully or not supporting that function • We “over engineer” many compliance jobs • A lack of integration means we end up processing the same data more than once (eg tax pymts in tax WP and ICA WP) • Therefore we spend a lot of time on the aspect of our work that client does not necessarily value • We needed to work smarter What we think we found
  22. 22. So we asked our clients
  23. 23. Client feedback
  24. 24. A new strategy YIYOC PIPOMs
  25. 25. A new strategy Compliance Factory YIYOC Event Gap analysisConsulting Execute C+ PIPOM
  26. 26. Compliance Factory YIYOC Event Gap analysisConsulting Execute C+ PIPOM Event Gap analysis Value Added Service Mgmt Reporting A new strategy
  27. 27. Compliance Factory YIYOC Event Gap analysisConsulting Execute C+ PIPOM Event Gap analysis Value Added Service Mgmt Reporting Technology enabler A new strategy
  28. 28. • Potential for efficiency • Achieve PIPOM strategy • Provide us with better quality management information Why Xero? Three key reasons
  29. 29. Why Xero?
  30. 30. Implementation • Assemble project team • Determine needs & write RFP ! • Evaluation completed • Board sign off and staff advised ! • Training – Xero, WFM, Workpapers • Plan / Implement / Conversion ! • Went live! • Xero Ledgers, WFM and WPs Oct 11 ! ! Jan 12 ! ! March 12 ! ! April 12
  31. 31. Our lessons • A full project and change management plan • Don’t use a Director as Project Manager – hire a specialist • Understand the full cultural impact of the change • Don’t focus on IT • Train the project team first • Get staff buy in before you kick off the process • Ensure training is of the highest quality • Clean your data
  32. 32. A tip or two
  33. 33. Our challenges • Partial take up still • Tension between the teams • Efficiencies not being realised • Senior staff struggling with change in emphasis • Clients still not getting the full benefits
  34. 34. Year one will hurt
  35. 35. But there is hope
  36. 36. Intangible benefits • Full Xero clients – much higher service levels • Tax planning becomes simple! • PIPOM clients engaged more easily • YIYOC clients perception • Client wins • Bank referrals • Up and coming staff motivation/commitment/retention • Employment attractiveness – 180+ applicants!
  37. 37. Compromises • Reporting Quality • Rural had to stay on AO, consistency of appearance
  38. 38. Hindsight • Probably waited a year – to get off the Bleeding Edge! • Better project management • Cultural change effort significantly higher • But would we have gone with Xero…
  39. 39. Hindsight • Probably waited a year – to get off the Bleeding Edge! • Better project management • Cultural change effort significantly higher • But would we have gone with Xero… S**T YES
  40. 40. The future • Xero is a given (while they are market leaders) • Transition - more move Full-Xero Clients • Xero farming Q2/Q3 FY14 • Cloud DM Q2 FY14 • Xero Add Ons will become key to higher levels of service • Business services will need to become broader – either through lateral hires or relationships • Collaboration via Networks
  41. 41. Questions & thanks

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