XRO
11/12/2014 09:19
GENERAL
PRICE SENSITIVE
REL: 0919 HRS Xero Limited
GENERAL: XRO: Xero surpasses 400,000 customers
XERO LIMITED (XRO)
MARKET RELEASE
11 December 2014
Xero Surpasses 400,000 Customers
- Millions of small businesses now connect in the Cloud on Xero
- Processed over NZ$250 Billion in transactions in 2014
- Over 400 customer facing updates in 2014
- Emerges as crucial growth platform for small businesses
Xero Limited (XRO) now has over 400,000 small business customers operating on
its cloud platform - a key milestone as it heads into key selling seasons in
the UK, New Zealand and the US. In 2014 the
company processed NZ$250 billion of transactions and 95 million invoices,
connecting millions of businesses, advisors, suppliers and customers
worldwide.
Rod Drury, CEO said "support from both customers and partners is both
humbling and exciting. Together we've established Xero as one of the leading
platforms on which they connect, collaborate
and conduct their business. Through a constant innovation cycle we are
fulfilling our potential as a small business growth engine, bringing together
crucial capabilities in accounting, payroll and
payments with insights and the business specific applications small
businesses need from our hundreds of partners worldwide."
The Company is utilising more than half a petabyte of data collected to
report business performance at scale and deliver insights to help improve the
growth of small businesses, providing a real time data
set to discover the real power of the small business economy and trends such
as growing self and part-time employment.
"We are thrilled to be playing a role in igniting the small business economy.
Our customers are adding employees and growing revenue and margins by having
clear visibility of their numbers and easy access to advisors," said Drury.
"At the same time, the vibrant ecosystem around Xero - including the growing
advisor channel - is creating jobs worldwide."
Xero is continuously improving with over 400 customer facing releases
deployed during 2014. Most of these releases, often unnoticed by customers,
span small business tasks ranging from payroll through beautiful business
reporting. In the next week, Xero will unveil a new business dashboard to
help small businesses have better visibility of their cash flow as Xero
begins its delivery of 'Big Data for Small Business' in early 2015. Xero grew
its team by 70% to over 1000 in 2014, building capability for further
innovation in 2015.
"Our momentum is not only a clear vote for platforms born and bred in the
Cloud, but also for those optimised for mobile devices," said Drury. In the
past 12 months, over 145,000 small businesses have
downloaded Xero Touch enabling them to pay, invoice and manage cash flow
anyplace, anytime.
"Today, New Zealand and Australia's most loved accounting platform has
achieved a similar position in the UK and is back on track in the US" said
Drury. The small business cloud market is still in its infancy: of the
addressable market of hundreds of millions of small businesses, only a small
percentage currently use cloud financial software.
Throughout 2014, Xero has invested significantly in its platform which is
becoming critical infrastructure in its core markets. The company now manages
500 servers across redundant data
centres managing approximately 500TB of production data while maintaining
best-in-class uptime of 99.99%. "We have our sights set on not just leading
in building our Cloud infrastructure, but also
putting the innovations and investments from the global Cloud providers like
Microsoft, Google and Amazon to work for small businesses," said Drury.
For more information contact:
Rod Drury
Xero CEO
[email protected]
+64 27 6000 007
Jo Miller
Global Communications Manager
[email protected]
+64 21 221 5171
About Xero
Xero is beautiful, easy to use online accounting software for small
businesses and their advisors. The Company has over 400,000 paying customers
in more than 180 countries around the world. Xero is listed on the NZX and
ASX. See www.xero.com
End CA:00258767 For:XRO Type:GENERAL Time:2014-12-11 09:19:32
