How Xero reached over 1M subscribers across New Zealand and Australia

The penetration of cloud accounting in ANZ is around 40 per cent, more than double what it is worldwide, says Craig Hudson, Xero managing director of New Zealand and the Pacific Islands.

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Xero says it has surpassed one million subscribers across Australia and New Zealand (ANZ).

“In New Zealand and Australia the penetration of cloud accounting sits around 40 per cent, more than double what it is worldwide, which shows clear leadership and uptake,” says Craig Hudson, Xero managing director of New Zealand and the Pacific Islands.

“This is exciting, because while both New Zealand and Australia are geographically distant, the innovation we see coming from our region is powered by cloud technology and global connectivity.

“Xero’s next opportunity for growth centres on the continued evolution of cloud technology and together, with our small business customers and partners, we are paving the way to extend business offerings on the Xero platform,” says Hudson, in a statement.

He adds: “Cloud technology has revolutionised the way small businesses operate. They are now working anytime from anywhere, with 24x7 real-time access to their financial position.”

Conduit for growth

Xero says its platform has become a major conduit for economic activity across ANZ.

In the past 12 months, its ANZ data shows 259 million invoices passed through the platform; $1.5 billion worth of transactions were processed and more than 1.2 million employees paid through Xero payroll per month.

“Our growth is an indication of the strength of the small business economy across Australia and New Zealand,” says Trent Innes, Xero managing director of Australia and Asia.

“Our data shows there is a direct correlation between digital connectivity and positive business outcomes for small business. We believe that best-in-class cloud technology positively drives economic prosperity for small business and as a result - the broader economy.”

“One of the great Australian and New Zealand dreams is to be your own boss but it takes guts to risk it all to follow that passion,” says Innes. “We have some of the most hardworking and creative customers out there who are truly demonstrating what beautiful business is.”