Xero’s Australian Managing Director, Chris Ridd, said that based on current client demand for cloud-based accounting solutions, Deloitte expected that by the end of its financial year approximately 2,000 ledgers would have been migrated to Xero’s platform alone.
Ridd said that for clients wishing to move to the cloud, single ledger accounting solutions provided business owners with real-time visibility of their financial performance and position.
According to Ridd, Deloitte’s decision signals “Xero’s growing stature in the Australian financial marketplace.”
David Hill, National Managing Partner for Deloitte Private, says “the professional services sector is being digitally disrupted.”
“Our response is to embrace this disruption to improve the efficiency of our operations and enhance the way we deliver value to our clients.
“Cloud or single ledger accounting solutions give clients the ability to access their financial data and reports from anywhere and at any time. Such solutions also provide us with the opportunity to regularly connect with our clients and offer timely insights and solutions to create and deliver value,” Hill said.