Xero eyes microbusiness market

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Xero eyes microbusiness market

Xero is aiming to attract more microbusinesses to its cloud accounting system by running a 'booster' program, Xero Australia managing director Chris Ridd told delegates - mostly accountants and bookkeepers - at the company’s XeroCon conference in Melbourne yesterday.

For their first 12 months on Xero, small businesses turning over less than $100,000 will be able to subscribe to the $25 Starter plan without being restricted by the normal transaction limits.

Xero will also run a six-month small business education program for these users.

The booster program will start in September or October, he said.

Ridd hinted that there may be changes to the limits imposed by the Starter plan.

In addition to this possible influx of new clients, Ridd had other good news for Xero partners. The company will continue to fund file conversions from other accounting software. Ridd said Xero has funded nearly 10,000 conversions from MYOB since April 2014, with more than 1200 in July 2015 - a 104 percent increase. In addition, more than 20,000 BankLink clients have been converted. “While the demand’s there, we’ll continue to offer that service,” he said.

Xero is also working on its practice tools. “MyXero is getting a complete overhaul,” said Ridd, with MyXero 2 about to go into beta testing. Automation capabilities are being added (integration with Adobe Document Cloud for e-signatures will be added next month), and advanced practice management software will sit on top of these. “This is about going from four screens down to one.”

Ridd promised practitioners that there is “a lot more to come.”

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