From XU Magazine, 
Issue 34

Aider Advisory Software – helping accountants simplify compliance & scale advisory

How Aider syncs with Xero to help accountants upsell advisory services

In January 2022, Aider’s Advisory Platform entered the FinTech space – a software solution designed to help advisors save time.
This article originated from the Xero blog. The XU Hub is an independent news and media platform - for Xero users, by Xero users. Any content, imagery and associated links below are directly from Xero and not produced by the XU Hub.
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Over the past year, Aider has fine-tuned their platform and released several new features that help accountants and bookkeepers automate data analysis and offer their clients’ accurate, actionable data projections.

With a new and improved dashboard, an intuitive checklist for data compliance, and a plug and play cash flow estimate tool, Aider’s platform is simplifying the way advisors do business.

While Aider’s platform has evolved, their mission remains the same: to offer a software solution that saves advisors time so they can focus on scaling their services.

Making it easier to bring client Xero files to a more complete & accurate state

Aider built their Advisory Platform to complement Xero. With over 3.5 million users, Xero is leading as the most intuitive, easy-to-use accounting software; helping accountants manage bank reconciliations, expense management and more.

But before Aider entered the FinTech space, something missing from the market was a tool that integrates with Xero to help accountants do more than just accounting – Aider bridged this gap.

Accountants have so many financial tasks they have to help their clients with – from compliance, to taxes, to cash flow, and so on. Aider’s Platform seeks to automate these tasks, so that accountants have more time to upsell advisory services. Let’s see how…

“We know accountants are really busy and a lot of their time is taken up by compliance work. So how can they quickly find out which clients have a cash flow issue or a big tax bill coming up? How can they monitor their entire client base? Accountants have a huge opportunity to create and offer advisory services for their clients, but those services are hard to scale without the right time and tools.
Aider’s mission is to save advisors time by providing an early-warning system that helps them improve compliance and create a more scalable advisory proposition that clients will love.” – Brendan Roberts, CEO & Founder

Syncing with Xero in real-time to present accountants pre-analysed data

Aider’s integration with Xero is seamless – accountants simply need to login via their Xero account and all of their data will sync in real-time. Using AI modelling, Aider pre-analyses client data as it is pulled across from Xero, and in just a few moments advisors have an effortless, aggregated view of all of their clients’ data.

No longer do they don’t need to open multiple tabs in Xero to compare how their clients are performing. Aider sheds off hours of time so that accountants can re-focus on other tasks; such as upselling advisory services.

Simplifying compliance with a quick & easy data compliance tool

The team at Aider understand first-hand just how daunting compliance can be both from an accountants perspective and a small business owners perspective – that’s why they developed a tool that does it for them.

Aider’s Platform was designed with the goal to save time. So when it comes to the hefty task of compliance it only made sense to incorporate a quick and easy data compliance tool.

Just recently, Aider released a new data compliance checklist for GST reporting that helps accountants spot, at a glance, incomplete tasks and record-keeping anomalies. Instead of spending hours sifting through numbers in Xero, Aider users can simply click into the ‘Data Compliance’ tab and see what’s happening with their clients straight away.

Improving efficiency with accurate cash flow estimates

In addition to a triaged dashboard and an intuitive checklist for data compliance, Aider also has an automated cash flow estimate tool to help accountants look ahead for their clients with accurate projections.

Aider’s AI draws its projections from historical cash flow data and real-time bank transactions to help advisors gain an accurate scope of how their clients’ cash flow is likely to look in the future, should they continue their current spending patterns. Aider also provides advisors with a clear view of their clients’ historical cash flow trends so they can easily spot issues to help their clients avoid payment spikes.

Advisors can quickly and easily share these insights with their small business clients via the platform, instilling a sense of urgency for their clients. This creates the opportunity for accountants to be more proactive and upsell advisory services, such as advising their clients how to improve cash flow, in order to avoid negative estimates coming true.

Enabling advisory at scale – helping accountants do what they do best, better

Just like Xero, Aider was born with the vision of simplicity & automation in mind

With a background in accounting, and financial experts on their team, the team at Aider know all too well that accountants have the knowledge and skills to help their clients businesses grow; as well as their own respectively – they just don’t have the time. And that’s where Aider fits in.

“Accountants already have the expertise to be a proactive advisor, they just don’t have the time or the tools. Aider’s Platform helps them quickly identify clients that need their help. It translates complex financial information into customer-facing content to support client conversations, making it easier to be more proactive and scale up their generating client services.” – Phil Dominick, Product Manager & Accountant

Why leave it there?

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