Founded in 2006, Xero is quickly becoming the preferred small business cloud accounting software and platform for business owners, bookkeepers, and CPAs in Australia/New Zealand, Canada, the UK, and the US. Techaisle’s research and discussions with small businesses show that they love Xero’s price and product simplicity, ease of use, and easy integration with numerous adjacent products. Becca Stern, Co-Founder of Mustard Made, a small business with 18 employees and offices in Australia and the UK, says, “We love that Xero integrates seamlessly with our Shopify stores, our payroll and that we can use it for invoicing some of our larger customers directly. It also gives us an easily accessible snapshot of our business performance and helps us understand our cash flow.”
74% of small business owners are millennials or GenXers who firmly believe in time to value. Xero delivers the time to value. Between 68% to 76% have founded small businesses to create something new, have autonomy, or have flexibility in work/lifestyle. When faced with a cloud software-related issue, 73% of them try to find a solution and fix themselves, time that is scarce and expensive. In 2018, Xero acquired Hubdoc to deploy code-free accounting, finding ways to reduce time out of accounting and bookkeeping work and give it back to accountants, bookkeepers, and small businesses. Xero has innovative reporting features that streamline financial analysis, including customized management report packs and flexible executive summary reports.