Xero sum game for ANZ’s SME customers


New Zealand online accounting software provider Xero and Australia and New Zealand Banking Group have announced an exclusive joint marketing and referral partnership where Xero’s online accounting services will be provided as an option to ANZ’s 450,000 small business customers and their financial advisers.

“The integration of Xero’s software provides our customers with a simple and convenient solution to manage their cash flow and provides greater transparency around trading performance.” — Nick Reade, ANZ general manager of Small Business for the Australian region.

A commenter, Harry Sims, said on the Xero blog: “Great work, the timing is perfect to take advantage of the FYE (accounting software changeover period) in Australia. Good to see ANZ is a forward thinking company and they understand small business.”

Xero has been taking on MYOB to provide accounting services to small businesses through its software as a service accounting package. MYOB co-founder and former chief executive Craig Winkler invested close to $15 million in Xero April, three months after MYOB was taken over.

Established in 2006, Xero offers online accounting and financial software for small businesses and personal finances. The services are now used in over 50 countries world-wide and customer base has grown to 17,000. The company has seen a fast growth in the past year with revenue tripled and its customer base almost tripling also, it claims.

Xero chief executive Rod Drury was not available to comment at the time of writing this article. Xero is listed on the NZX.

Image credit: Xero