Xero’s most active marketing message has been that it is a beautiful accounting system. Of all the possible descriptors for software, who would have ever thought of associating the word “beautiful” with accounting software?
Whether Xero is actually beautiful is in the eyes of the beholder. However, subscriber growth proves that it is beautiful enough or perhaps the most beautiful in the marketplace.
As much as it is beautiful, it is also functional. It is not the cheapest accounting software available and arguably not cheap at all. Above all, it respects its users’ desire to get accounting work done in the most efficient manner possible, and of course in the cloud.
“Xero has doubled subscriber numbers in less than two years and has quickly grown to become a global leader in cloud accounting, adding nearly 300,000 subscribers in the last year alone,” said Xero CEO and Founder, Rod Drury. “Achieving more than a million subscribers is a significant milestone, establishing Xero as a leading, global innovator of small business software.
“One of our key growth strategies has been to develop a global channel of accountants and bookkeepers. There are now more than 100,000 business advisors in our global community which enables us to support small businesses around the world.”
One million subscribers is a huge achievement and is cause for celebration. Another major milestone in its shareholders’ sights has to be making a profit and becoming cash flow positive. With its revenue now in the hundreds of millions, this additional milestone can’t be too far away.