From XU Magazine, 
Issue 30

Cloud finance apps are on the up

The pandemic proved a cloud technology tipping point for many businesses

With technology adoption accelerated by the pandemic, the uptake of Joiin’s cloud consolidated reporting platform is currently more significant than ever.

Then the pandemic hit, none of us knew what to expect. It was unchartered territory.

For some business finance teams and accountancy companies, the start of lockdown presented significant challenges. Think staff unable to access office-based servers when working from home; even desktop machines being moved to people’s homes so they could access software and work.

Businesses had to make big decisions daily and adapt to change quickly. Most pivoted to technology like Zoom or Teams.

Fast forward two years, and the pandemic has transformed working life, seemingly forever.

A recent McKinsey study highlights that technology adoption and digitalization amongst businesses accelerated by several years during to the pandemic. What we’ve seen at Joiin presents a similar story: the uptake of cloud finance technology amongst companies is now more prevalent than ever.

Our Joiin consolidated reporting app for Xero has never been more popular.

We’ve seen a dramatic rise in business finance teams and accountancy advisors using our Joiin platform to do much of the heavy lifting when it comes to consolidated financial reporting. Our platform provides a shared, single source of precise data that enables our customers to run consolidated group reports quickly and easily, all in collaboration with others. Moreover, they get to plug and play with different features such as off-the-shelf reports with editing options, inbuilt currency conversions when handling multi-currencies, and multi-user rights for greater collaboration.

A shared story 

Our story is one you’ll likely hear many times over amongst cloud software-as-a-service providers. It’s one of greater technology uptake as businesses searched for solutions once office norms were shattered by the new standard of lockdowns and working from home.

Successful business finance teams and accountancy advisors adopted new technology and the right technology. Tools accessed by staff at different remote working locations and ones that championed both teamwork and collaboration and provided a single source of financial data for all to see.

Once these teams found they were able to collaborate and communicate better, in turn, they helped to reduce the pandemic’s impact on business revenue, profits, and operations.

One of our Joiin customers told us of a situation where numerous staff were trying to consolidate the finances for multiple global subsidiaries during the pandemic, literally from their front rooms. With so much change happening fast, they leapt to Joiin during the first lockdown. Joiin enabled them to collaborate over one platform in real-time and absolute accuracy.

In this together

There are many similarities between the way business finance teams and advisors pivoted to technology during the pandemic and the success of Joiin.

Our success is built on the very things that make our platform popular and which helped businesses during the pandemic: cloud technology, remote access, digital integration, plug and play features, and collaborative working.

Like many of our customers, we had staff working from home in different locations. They could work together in the cloud and across the shared systems we have in place.

We’re fortunate to have grown over the last two years. And as we’ve done so, our customers’ expectations and what they demand from our platform has exploded.

In 2021, our platform delivered a staggering 436,544 time-saving reports for our customers (that’s one every minute or so). It’s a figure we’re particularly proud of, as our customers often describe being constantly under pressure (something only exacerbated by the pandemic), with Joiin’s digitalized reporting a solution that claws back time for them. Business finance teams and accountants can then dedicate more time to advisory work within their business or with clients, so they’re freer to make value-added decisions, forecast the future, and maintain a competitive edge. That’s a win-win all day long.

Why leave it there?

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