Bringing accounting to the modern era

Xen Accounting
Ryan Lazanis, CEO

Ryan Lazanis, CPA, CA is not your typical accountant. With an interest in business models that disrupt traditional industries & after spending years in public practice, Ryan created Xen Accounting in 2013. Ryan is interested in helping to bring the accounting profession into the modern era. When he's not busy with accounting or tech gadgets, Ryan has been known to be an active DJ in Montreal and enjoys traveling to places that are hard to pronounce.

A bit about Xen Accounting

Xen Accounting's goal is to provide small businesses across Canada with an easy, automated & paperless online accounting service. The firm’s focus is working with tech startups and currently has 12 people on the team, but growing. Servicing about 150 corporate customers, the team consists of CPA’s, bookkeeping and a software engineer acting as the company’s Tech Lead. Located in Montreal, Canada, the firm’s approach is to provide a consistent experience among its customer base by controlling the accounting process for each of its customers by implementing the tech they recommend, employing mandatory bookkeeping services and including tax compliance and advisory services in each and every one of their plans.

The Problem

Before implementing Practice Ignition, engagement letters were sloppily created and updated in Word and proposals were created in a separate app, leading to an exceptionally inefficient and error-prone process. As Xen Accounting was growing relatively quickly, they were onboarding many new customers each month and were seeking something more streamlined. The company’s CEO, Ryan Lazanis, found Practice Ignition at the end of 2013 by literally searching Google for better options and ended up stumbling upon Practice Ignition in the Workflowmax integrations page and reached out to Guy immediately after to learn more. Shortly after, Xen Accounting became one of Practice Ignition’s first customers.

The Fix

Practice Ignition has saved Xen Accounting time by creating a smoother and more efficient customer onboarding processes. The app’s flexibility allows the firm to customize the interface according to each client’s unique needs while still working within a fixed price billing model. Practice Ignition’s client engagement capabilities have also enabled the firm to set out precise definitions for new agreements, eliminating the risk of “scope creep”.

In using Practice Ignition’s dashboard, Xen Accounting has also been able to track MRR with astounding efficiency and accuracy. Increasing MRR visibility has allowed the firm to remain agile in its growth, and make strategic adjustments when necessary in order to reach new goals. Xen Accounting can analyze the data to determine whether they need to increase marketing efforts or give an extra push to sales during any given month. Knowing whether the MRR is increasing or decreasing provides them with a high-level overview of where they are headed, allowing them to plan for the future in a realistic and measurable fashion.

Practice Ignition also now sets the tone for their business relationships, making clients confident that they will go above and beyond to implement innovative processes that increase financial efficiency. From first interaction through to project completion, they show that they are a company committed to always “walking the talk”, and Practice Ignition has helped to turn that value into a reality.

Ryan’s Pro Tip

For any firm implementing fixed or value pricing, using the Service Terms feature is absolutely essential to limiting your scope. In each of their services, Xen Accounting defines what's included and what's not included which helps limit disagreements about scope with customers in the future.

Team Xen
The team at Xen Accounting

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