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Scottish SMEs on cloud nine thanks to new accountancy technology

Posted: 9th February 2016

Over 200 SMEs across Scotland are now benefitting from the ability to manage their finances via the cloud thanks to a partnership between the country’s leading independent chartered accountancy firm and one of the world’s most innovative software providers.

Johnston Carmichael and Xero work together to provide SMEs with a low-cost subscription service which allows businesses access to their accounts anywhere at any time. Johnston Carmichael has seen the number of clients using the service quadruple in just 12 months from 50 to over 200 businesses, making them one of the largest Xero partners in Scotland.

Dr. Gregor Hofer, CEO of Speech Graphics, a facial animation technology company based in Edinburgh, believes adopting the new system has had a significant impact on his business.

“It’s nice to be able to focus on what we’re passionate about as a business and not have to worry about the accounts. Xero’s online software makes it easy to keep on top of cash flow, saves time on manually entering statements, and allows us to contact Johnston Carmichael quickly and easily if we need some advice. It is a great collaboration and I’m not surprised more and more businesses are adopting this way of working.”

Toby Rintoul, Head of Business Solutions at Johnston Carmichael, said: “The partnership between Johnston Carmichael with 80 years of accountancy expertise to draw on, and Xero which is at the forefront of cloud-based accountancy, is a great example of how technology is changing the shape of the industry for the benefit of clients.

“During 2015 we saw a huge rise in the number of clients subscribing to Xero, and with more joining in January this looks set to continue in 2016. SMEs are a critical part of the Scottish economy and using this cutting-edge technology allows them to get on with running their businesses, no matter where they are located, knowing their accounts are in safe hands.”

Reflecting on the benefits that Xero and Johnston Carmichael deliver to SMEs, Gary Turner, Managing Director, Xero, said: “We’re thrilled Johnston Carmichael are working so extensively with businesses using Xero as their cloud accounting tool. It is through the combination of Xero’s software and Johnston Carmichael’s depth of accounting knowledge that clients can achieve real peace of mind. Small businesses can keep on top of their cash flow, whilst their accountants can simultaneously view the accounts at any time to assist with forward planning, offer sound advice and make sure the businesses they support get full use of their expertise.”

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Business Comment is the Edinburgh Chamber of Commerce’s bi-monthly magazine. It provides insight on Edinburgh’s vibrant business community, with features on the city’s key sectors, interviews with leading figures and news on new business developments in the capital.
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