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Xero changes the economics for accountants



Xero changes the economics for accountants
Melbourne, 4th February 2013

Online accounting software provider Xero (XRO) has delivered Accountant Reporting in Australia today, fundamentally changing the economics of the Australian accounting industry. The release lands at the beginning of a nationwide roadshow to 15 cities, with over 3000 accountants and bookkeepers registered.

Xero accounting partner Lisa Callaghan from Interactive Accounting says “The release of Report Packs in Xero means for the first time we can do both client accounting and our own reporting on a single platform. This is a big leap forward from the desktop era, when we had to pay a lot of money for our own separate software to write reports.”

Xero has used the cloud to cut out the inefficiency of the old model. This a major technology shift that eliminates the duplication, data entry, sync problems and massive cost of moving and sharing files between disparate applications. There is one copy of the data and now Accountants have a far more productive way to complete compliance activities.

Up until now the accounting software industry charged both sides - with the same set of books managed in both small business desktop software and in expensive accountant software installed on premise. Delivering client and accountant features on the same platform eliminates this double dipping and will make it difficult for vendors to continue to monetize on the accountant side.

Xero Managing Director Chris Ridd says ‘This morning's release highlights our focus on delivering value for both our accountant and bookkeeper partners as well as their clients. By providing our partners with the tools to create reports more efficiently for their clients, we’re freeing up their time to focus on higher value work like helping clients work on their business. It’s a much more valuable relationship for everyone.”

For more information contact:
 

Marina Kosmatos
Marketing Manager, Xero Australia Pty Ltd
marina.kosmatos@xero.com