500,000 subscriber milestone for Xero
Following a landmark year for Xero, which resulted in over 500 software updates, Xero recently revealed new, innovative accounting tools at Xerocon Denver. Highlights of Xerocon’s first day included the release of Xero’s new Business Performance dashboard; the addition of new states for Payroll in Xero, including Colorado; and a number of new product features. There was excitement over the new Xero Apple Watch integration, following an on-stage demo showcasing the software’s seamless user experience across multiple iOS devices. In his keynote presentation, CEO Rod Drury also announced that Xero had reached a key milestone of 500,000 subscribers globally.
Xero achieved its first 50,000 subscribers in September 2011 after five years in business. Subscriptions doubled in just 10 months and Xero reached the 100,000 milestone by July 2012. This momentum has continued, and four years on from that initial milestone Xero has grown its business ten-fold to become the preferred accounting platform for many small businesses, accountants and bookkeepers worldwide. In the last financial year alone, Xero processed over 55 million invoices and over NZ$300 billion transactions were paid through the Xero system in the past 12 months worldwide – demonstrating the power of the small business platform to deliver insights into the health of small business.