Xero, an online accountancy software provider, has posted its subscription
figures this week up from 950 customers last year to 6,000 this year.
The New Zealand based technology company, had 950 customers by 31 March 2008
with that figure increasing by 5,000 this year. Over a third of its customers
(2,000) are UK based firms and businesses.
The company had 30 UK customers in the same period last year with that figure
increasing to 708 at the end of 2008.
Rod Drury, co-founder Xero, said: ‘Over half our customers in March came
through accountants, an obvious early scale channel for our particular
‘I personally believe that SaaS is about having the capital to give you the
time to do things properly ahead of the curve’ he adds.
Xero provides SaaS accountancy products to 25 countries as well as The Royal
New Zealand Coastguard and partners with Deloitte in New Zealand. The company
branched into the UK in September 2007.
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