Story image

Xero doubles customers worldwide

03 Apr 2012

Online accounting software company Xero has offered a market progress update on the NZX, announcing a doubling of customers around the world thanks in part to the growth agenda signalled in the middle of last year.


The company announced in July that it would re-invest its cash funds rather than paying off debt, and the approach seems to be working, with business customers around the world growing from 36,000 to 78,000 and revenue doubling from $9.3 million to $19 million in the year to March 31. 


Staff numbers have risen from 113 to 194, including 44 based overseas; the company now has offices in Wellington, Auckland, Melbourne, Canberra, Milton Keynes and San Francisco.


47,000 of the company’s customers are in New Zealand, 16,000 are in Australia, 11,000 are in the UK and 4000 are in the rest of the world, including the US. Annualised Monthly Committed Revenue is now over $25.5 million, with 51% of that coming from offshore. 


"Xero continues to demonstrate that it can execute effectively across multiple regions, innovate and keep delivering a best in class product and customer experience,” the statement reads.


"For FY13, New Zealand, Australia and the UK will be the growth engines for the company. Entry into the US market is progressing well as the company executes its plan and works with early adopters.”


View the full statement here.

Microsoft appoints new commercial and partner business director
Bowden already has almost a decade of Microsoft relationship management experience under her belt, having joined the business in 2010.
Zoom’s new Rooms and Meetings features
Zoom has released information about the upcoming releases for its Rooms and Meeting offerings for 2019.
Aussie company set to democratise direct-to-orbit IoT access
Adelaide-based Myriota has released a developer toolkit that has been trialled and tested by a smart waste management platform.
Apple's AirPods now come with 'Hey Siri' functionality
The new AirPods come with a standard case or a Wireless Charging Case that holds additional charges for more than 24 hours of listening time.
Dynatrace takes pole position in APM Magic Quadrant
It placed highest on Ability to Execute and furthest on Completeness of Vision in the 2019 Quadrant for Application Performance Monitoring (APM).
HCL and Xerox expand strategic partnership
Under the terms of the agreement, HCL will manage portions of Xerox’s shared services, including global administrative and support functions.
Avaya expands integration with Google Cloud AI
This includes embedding Google’s machine learning within conversation services for the contact centre, enabling integration of AI capabilities.
Forrester names Crowdstrike leader in incident response
The report provides an in-depth evaluation of the top 15 IR service providers across 11 criteria.