Thursday, 20 February 2014 11:46

Xero accelerates customer growth

By
Rod Drury, Founder & CEO Xero Rod Drury, Founder & CEO Xero

Online account software company Xero has surpassed over a quarter of a million customers worldwide, with the Australian market now approaching 100,000 customers for the New Zealand company.

Listed in New Zealand and Australia, Xero (ASX:XRO), Xero passed the 250,000 mark at the end of January, which Founder and CEO Rod Drury says compares to 135,000 customers worldwide at the same time 12-months ago. The company is in a race for market supremacy as competitors like MYOB, Reckon and US company Intuit all push aggressively in the rapidly growing Australia and New Zealand online accounting software market.

Drury said the company, which has a growing client base in New Zealand, Australia, the UK and the US, was “gaining real momentum” when giving his keynote address today at the Xerocon accounting conference in New Zealand.

“It took five years to get our first 50,000 customers, but in the last 12 months we’ve added 115,000 more,” Drury said.

“Now with a quarter of a million customers globally, and with the Australian market fast approaching 100,000 customers, we are gaining real momentum.

“The results we have achieved over the last year are testament to the innovation of the product development team which is working hard to build the features enabling us to target all small businesses in our core markets, as well as the wider teams in US, Australia, the UK and here in New Zealand. Building a financial platform is a huge investment and I’m very proud of the results our team has delivered.”

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Peter Dinham

Peter Dinham - retired and is a "volunteer" writer for iTWire. He is a veteran journalist and corporate communications consultant. He has worked as a journalist in all forms of media – newspapers/magazines, radio, television, press agency and now, online – including with the Canberra Times, The Examiner (Tasmania), the ABC and AAP-Reuters. As a freelance journalist he also had articles published in Australian and overseas magazines. He worked in the corporate communications/public relations sector, in-house with an airline, and as a senior executive in Australia of the world’s largest communications consultancy, Burson-Marsteller. He also ran his own communications consultancy and was a co-founder in Australia of the global photographic agency, the Image Bank (now Getty Images).

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