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What business benefits do cloud computing services provide? What problems do they solve
+Accounting Software Choieces
What business benefits do cloud computing services provide? What problems do they solve
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Business Description
Xero is a public company specializing in accounting software for small businesses, it was founded in 2006 in New Zealand (Xero Story, 2014, para.2). The company uses the business model; software as a service by using cloud based accounting for its customers. After its initial success the company expended to Australia in 2011 followed by the United Kingdom and United States in 2012. Today it operates in more than 100 countries with 200,000 paying customers.
The company employs more than 600 people around the world with its main headquarters based in Wellington, New Zealand. With its continued growth the company has been called ‘Apple of accounting’ (Robins, 2013, para.1).
Xero’s Vision is to be “The global leader of small business accounting” and its Mission of “Grow prosperity by connecting people, money and resources with beautifully designed software“(Xero Briefing, 2012, pg.29). Xero’s main focus lies with how the customer can best interact with its software to make it user-friendly and at the same time powerful.
Xero provides a growing family of connected solutions (Xero Story, 2014, para.6):
Client accounting for small business available anywhere, at any time and on mobile devices
Accountant tools for management reporting and final accounts production
Personal financial management
Currently a majority of Xero’s customers are based in Australia (45%), followed with New Zealand (20%), UK (19%) and USA / Rest of the world (16%) (First NZ Capital, 2013, pg.2], this shows that Xero has some major growth opportunities especially in the USA.
PESTLE Analysis
Political
Xero is a financial accounting firm that provides its product as a service which requires it to comply different laws in regards to data p...
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...as well as POS systems, which would allow them to offer a package which the businesses has all areas of a small business covered with one product. They could develop their own system that is fully integrated or work together with existing providers. By building their own system will allow them control the customer experience fully and ensure the product remains of the highest quality which builds a value with its customers.
With governments around the world starting to create an online system where people and businesses can do their taxes online as well as manage key aspects of their relationship with government agencies such as the Australian Taxation Office (ATO) (Eci.ato.gov.au, 2014, para1.). By integrating its main product with these government online services will enable them to offer an even easier way to manage their GST and other end of the year reporting.