SKO
19/02/2016 08:30
GENERAL
NOT PRICE SENSITIVE
REL: 0830 HRS Serko Limited
GENERAL: SKO: Serko to Partner with Xero
Market Release
19 February 2016
Serko to partner with Xero to revolutionise the way small businesses book
travel
Serko Limited (SKO.NZ), the leader in online travel booking for business
announced today that it is working to connect its travel solutions to Xero,
the leader in cloud accounting software, bringing its online, cloud-based
travel booking software to small businesses worldwide.
Under the terms of the agreement, Serko's new online booking service,
serko.travel, specifically designed for small and medium sized businesses,
will connect to Xero's customer base of more than 425,000 subscribers in
Australia and New Zealand.
Darrin Grafton, Serko chief executive officer said "Historically Serko has
targeted the large business market, however we've developed the technology
over the last year to allow it to be used by smaller businesses who have a
similar set of challenges to corporates, but far fewer resources."
"This is an important and exciting opportunity for us and we're very pleased
to be partnering with Xero. By engaging with Xero's large customer base and
ecosystem of accountants and bookkeepers, we believe we can improve a
multi-billion dollar market. It's innovative and long overdue."
The new service is expected to launch by mid-2016 and will be targeted
primarily at Xero customers.
Small businesses do a significant amount of travel and waste a great deal of
time, effort and money organising trips. Serko's innovative mobile and
desktop travel booking technology is estimated to help organisations save up
to 20 per cent on travel and reduce the time it takes to book a trip by
enabling flights, accommodation, transfers and hire car from every possible
supplier, to be booked in one place.
Rod Drury, Xero chief executive officer said "Travel can be a significant
cost to a business and processes around travel can be a source of
frustration. Our team is excited to work with Serko on this opportunity to
re-wire how small businesses manage travel, providing small businesses with
capabilities usually only available to enterprise."
As NZX-listed businesses, both Serko and Xero are highly respected in New
Zealand and Australia and experiencing strong demand in broader overseas
markets. By joining forces and approaching a real problem with the best of
New Zealand's technical expertise, the companies expect to be able to unlock
significant value and change the way that businesses book travel.
This partnership announcement is not material to Serko's revenue within this
financial year.
To register interest go to www.serko.travel and sign up to be part of the
beta program.
ENDS
For investor relations queries please contact:
Tim Bluett, Chief Financial Officer, Serko
+64 9 309 4754
[email protected]
For media queries please contact:
Thomas Hann, Porter Novelli, for Serko
Phone: +61 2 8987 2135
Email: [email protected]
About Serko
Serko is Australasia's leading online travel booking and expense management
company for businesses and is listed on the New Zealand Stock Exchange Main
Board (SKO.NZ). With its HQ in Auckland New Zealand, and with offices in
Sydney Australia, Xi'an City China and Gurgaon India, Serko employs more than
130 people worldwide.
Serko Online is an integrated Online Booking Tool used by administrators and
travellers to book flights, accommodation and car hire from the broadest
possible set of travel providers. The OBT ensures that travel bookings comply
with corporate travel management policy without limiting the users choice of
travel provider.
Visit www.serko.com for more information
End CA:00277911 For:SKO Type:GENERAL Time:2016-02-19 08:30:51
