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Expert advice: High time to plan for the boom

Published: April 3, 2023, 3:43 p.mMarie Löfgren, operational manager at the cloud-based business system Xledger. High interest rates, inflation and general uncertainty characterize the economy. Then the expert advises companies to plan for growth when the winds turn. – It is important not to get stuck in old ruts. With the right platform behind you, you can grow without increasing the administration, says Marie Löfgren, operations manager at the cloud-based business system Xledger.So you can switch up – without extra costsNever neglect a good crisis. So goes the classic expression from a famous British Prime Minister. And certainly shaky times are a good opportunity to review your business, believes Marie Löfgren: – I think that many have gained better insights after the difficult years with the pandemic and now the war. You feel that you want to be well equipped and part of that is better platforms. We had an all-time high when it became homework. She paints an example from Norway during the pandemic: – There we saw that the last thing people wanted to cut back on was the business systems because they were crucial to the company’s operations. Somewhere, it is the case that accounting, invoicing and that whole bit has to work. It is very difficult to reduce that cost, but it is possible to think smart.All business systems cost thus money – but not all business systems cost the same. And this is where Xledger comes in, says Marie Löfgren: – The big advantage is scalability, it is easy to add and remove both functions and users. We invoice based on a flexible model where you only pay for what you use, there is transparency in the model. At the same time, functionality is available if the needs change. It is precisely the possibility to scale up Xledger when necessary that appeals to growth companies with international operations, she thinks: – We have a case now where another organization in another country with different systems has been acquired. In that case, another type of organization has been created that works in the same system, so that you can analyze the business in real time. Otherwise, it can become a huge apparatus with different structures in the same group.Support for 23 different languages, automatic currency conversion and the fact that Xledger is completely cloud-based are other factors that speak in favor of the system, believes Marie Löfgren: – We retrieve exchange rates every day so the information is available in real time. Being able to report everything in the same group currency is more in demand than many people think, it creates opportunities to quickly create reports and gives an overview of how the company performs in different markets. You can access everything in real time, wherever you are in the world, if you talk to the office in Asia, you are looking at exactly the same numbers. She also highlights that the cloud solution also contributes to increased profitability – through reduced costs: – A true cloud solution as Xledger means that all data handling, storage and security is handled by us. Nothing needs to be managed locally at the company, which also reduces costs.All in one system – learn more about how it works

THIS IS XLEDGER

– Founded in 1996 by three Norwegians, who still own the entire company. Has a presence in five countries: Norway, Sweden, Finland, Great Britain and the USA. It has just over 10,000 customers with over 100,000 users with operations in more than 60 countries. – Xledger is a 100% cloud-based business system that offers a comprehensive solution in, for example, accounting, reporting, budgeting and analysis. The subsystems within Xledger are fully integrated with each other. – The basics of the system are the automation of financial processes via AI, insight in real time via Business Intelligence tools and scalability with the possibility to grow without new costs. – Thanks to the cloud solution, the cost of the system is significantly lower than for traditional systems with equivalent functionality. – Because the system is true cloud, all users work globally in the same version. Free updates take place automatically several times a year.- Xledger users always have access to the business’s key figures in real time, regardless of where in the world they are.- All data in Xledger is protected by the security certification IS0 27001, which meets the market’s highest requirements for data security. Xledger also meets ISAE3402 standard. In addition, support for, for example, defined user roles, two-factor authentication and password checking is included. The article is produced by Brand Studio in collaboration with Xledger and not an article by Dagens industri

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