FYI + Xero: Moving your practice to the cloud

Posted on 01 December 2019

Our CEO and Co-Founder, Rob Cameron, recently had the pleasure of co-hosting a live session together with Patrick Frigo from Xero’s Practice App team. We discussed why moving to the cloud is now a reality for Xero practices, thanks to the powerful combination of FYI and Xero Practice Manager.

Here are five key take-aways from the session. You can watch the full 60-minute recording or read on to learn why why we believe the real question is not if you should move your practice to the cloud…but when.


1. Retain a single source of truth for client information – and put it to work

Not only do you retain your universal client list when you move over to XPM, but this information is then leveraged by FYI to underpin your document management and automations.

Your single source of client data only needs to be maintained in one location (rather than across multiple databases), reducing the risk of working with out-dated client information.

And this data then drives all sorts of functionality in FYI, like cloud storage of client information, auto-filing, document workflows, email and document templates and more.

So, you won’t lose your client-centric approach by moving to the cloud – your client workspace in FYI is automatically populated with client details from Xero Practice Manager, as well as recent emails, documents and client interactions. You will be able to access all your client information in one location, and view it at a group, client or job level.

2. Endless list of features

With FYI’s fully-featured platform, you’ll be able to maximise productivity with minimum effort. Tools such as configurable process automations, full document management with version control, task management, auto-filling of emails, powerful search and retrieval (including emails), digital signature approvals, and the seamless integration with other apps, allow you to create the most efficient practice possible. Plus, our frequent updates ensure you get access to all the latest features and innovations, at a pace that old desktop systems simply can’t match.

3. Create a bespoke app stack

By tapping into the Xero eco-system, you can create the working environment of your dreams. With the flexibility to create a bespoke solution for your practice, you can simply choose the best in class providers you want for a specific business process, and watch the benefits roll in. If you’re not sure where to start, your Xero Account Manager can assist, or you could tap into the knowledge of an implementation partner such as FGS Advisory or Clarity Street, who can help make the right selection for your specific needs.

4. No loss of data in migration

Forget about the myth of losing stuff in the move. Once you’ve made the decision to migrate, you can rest assured you won’t lose any data when you transition your historical documents across to FYI. The move from legacy storage systems such as MYOB, HowNow, Virtual Cabinet, Sharepoint etc will be seamless. In most cases, all ‘meta-data’ can be migrated across, including dates documents were created and modified, and in some instances, client, group, cabinet, year and work type can also be transferred.

5. Productivity gains outweigh any initial downtime

Let’s be honest, change isn’t always easy. But you won’t have to go too far backwards to go forwards in your move to the cloud, especially if you plan it in the right way. Start by cleaning up your data. Next, have a clear vision and communicate the benefits to your staff. Then, break up migration into planned stages and slowly introduce change during quieter periods. You may even want to pick a handful of staff and clients to try new tools on, before you introduce them to the wider group.

By year two, it’s not uncommon to get a 50% reduction in the time it takes you to prepare jobs, which is worth the price of any downtime.

Click here to learn how PJS Financial have increased recoveries by 22% after moving to the cloud with Xero and FYI.


So, why not move to the cloud today?

There are many well-established benefits from moving to the cloud. And doing so with a sophisticated, fully-featured platform like FYI, will not only allow you to store your documents in the cloud, but also to automate processes to make your team more productive and add more value to clients, give you the freedom to work remotely, and to generally be ahead of the game. For these reasons and more, the real decision is not if to take your practice online, but when.

Xero has helped many firms make the transition to the cloud. If you’d like to learn from their experience, you can download Xero’s Ultimate Guide to Changing your Practice Management Software or get in touch with your Xero Account Manager.