Wednesday, 27 August 2014 00:08

Xero rolls out new business software marketplace in fight for marketshare Featured

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

Online accounting software company Xero says its ecosystem of business solutions has grown by more than 35% to 350 in the past 12-months, and it has now unveiled a “new business software marketplace” designed to give small businesses and their advisors a new way to easily find the right add-on solutions.

The CEO and founder of the New Zealand-based global vendor Rod Drury, told the Xerocon partners conference in Sydney yesterday that the company had needed to “rethink how small businesses and their advisors discover the best solutions for them.”

The launch of Xero’s new business software marketplace follows closely its recent announcement that it had crossed NZ$100 million in annualised revenue and now has over 900 staff, and as the battle for regional marketshare continues to heat up.

Big US vendor Intuit, makers of QuickBooks, and Australian vendor MYOB are both in an increasingly head-to-head fight with Xero for ascendancy in the trans-Tasman market, with announcements about financial results, new products, marketshare gains and customer acquisition by the big three almost daily.

In his presentation to the partner conference, Drury said the Xero ecosystem now covers areas such as point of sale, inventory management and job costing, leveraging its accounting platform.

“Software developers are spending millions of dollars developing fantastic applications to make life easier for small business owners.

”The add-on marketplace is the next evolution in small business software showcasing all of Xero’s add-on partners and their unique solutions to our more than 330,000 global customers.

“There are 42,000 active installations of add-ons in use – a 280% increase in the last year.  And, last month alone, there were over 60,000 visits generated from our marketplace to our add-on partners, a 28% increase in the last year.

“We’ve created the most vibrant global ecosystem for small business software. Now our customers can easily identify add-on solutions that fit their business’s specific requirements, then connect that to the accounting data.”

According to Drury, the company’s estimated annual revenue generated from add-ons connected to Xero is already over NZ$33 million and “we are seeing hundreds of new jobs created.”

“We’re thrilled to see the investment being made by hundreds of business software startups that will make life better for small business owners all over the world.”

Xero Australia managing director Chris Ridd says the marketplace shows add-on ratings and reviews, “so everyone knows which add-ons work well for different situations”.

“The add-on ecosystem has become an integral part of our customers’ experience so we wanted to make sure that we evolve the marketplace as it grows.

“Now our customers can search more easily for industry-specific solutions suiting anything from a small winery to a booming inventory business. We have plenty more updates planned for the marketplace in future.”

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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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