Posted on 24-May-2012 09:32.
Filed under: News
New Zealand-listed Xero has strengthened its cloud-based offering through the acquisition of WorkflowMax, a full practice management suite that enables accountants to handle everything from leads and jobs to invoicing and time tracking.
Xero.com is an easy to use online accounting software for small businesses and their advisors. The company has over 78,000 paying customers and 240,000 users in more than 100 countries around the world. Xero's U.S. team is based in San Francisco.
"Cloud solutions are fundamentally changing the way accounting professionals work today -- enabling unparalleled collaboration with clients and opening up new business opportunities," said U.S. President of Xero.com, Jamie Sutherland. "Xero's addition of WorkflowMax expands the scope of online accounting services to include practice management, making it faster and easier for accountants to run their businesses in the cloud."
There is no question that online accounting is reshaping the industry. Recent research commissioned by Xero found nearly a third (30 percent) of accounting professionals plan to move their clients online in 2012. In addition, almost half (47 percent) believe they would save a minimum of five to 10 hours a week if clients could reconcile their finances daily. Xero enables accountants to tap the power of the cloud to collaborate directly with colleagues and clients, provide better counsel, run and manage business operations and ultimately grow their practice.
"With the addition of WorkFlowMax to Xero's offering, I now use one online solution to service my clients and manage my entire practice. This has freed up a significant amount of time, improved my efficiency and allowed me to take on more clients, doubling my business," said Nick Bird, CPA, Xero Advisor and Owner of Lucid Books.
From finding and filtering leads to job procurement, time tracking, report generation and final invoicing, WorkflowMax addresses the entire work management process. Xero is offering WorkflowMax free of charge to accounting partners who add 20 new Xero Business Edition clients by June 30, 2012.
Xero commissioned the survey via IBOPE Zogby International through an online survey of 501 accountants in the U.S. from February 1 to February 14, 2012. A sampling of IBOPE Zogby International's online panel, which is representative of the adult population of the U.S., was invited to participate.