For most of the small business owners, they know that accounting is an important function for them in order to survive in a long-term basis. Understanding the need for an accounting software can be much fun and exciting which is something that has never really has been. Xero is considered to be a cloud based accounting software that was developed in New Zealand. As of these moment, their company employs over 1,000 employees all over the world. Last November 2012, the company’s stock has grown over 800 % above the original price.
Many companies these days are still using the old system of accounting or bookkeeping such as Excel spreadsheets and many more. Xero accounting knew that that the future is in the cloud. They want to give small businesses, accountants and bookkeepers a new way to do their accounting jobs online and even on their mobile phones. Xero accounting software believed that almost 46% of small businesses in Australia are already using cloud. Awareness of cloud accounting has helped owners and accountants know about this recent trend. In terms of client growth, Xero has grown fast and reported about 83% internationally. In addition to that, the company announced that at the end of 2014 there will be over 400,000 new users coming all around the world.
Xero is planning to expand their foundation when it comes to developing applications. More app developers and entrepreneurs are willing to invest with Xero to build solid business and recruit more customers. Xero has made the accounting software available in remote areas, because many small businesses are wanting to improve their daily transactions. Many experts believe that the company’s success is due to its product design. Many business owners testified that when they used Xero, they have balanced their accounts in a simplified manner. More and more potential customers are expressing their intentions in subscribing to their product.
With the use of Xero accounting software, they can easily manage their financial activities and prevent profit losses. Most of their loyal customers are coming from New Zealand and Australia which they consider as the backbone of their business. Owners are just too happy to express that they have made the right decision in getting Xero as their accounting services system, because they can sleep quietly at night without getting worried about their investments and the tight competitions in the market.