COMPANY PROFILE -Xero
Business Sector :SaaS, Accounting Software
Operating Geography :New Zealand, Australia, Global
About Xero :
Xero is a public technology firm based in New Zealand that trades on the Australian Securities Exchange. In 2006, the business was established in Wellington by Rod Drury and Hamish Edwards. The company is a small and medium-sized business accounting software platform that is hosted in the cloud. It allows users to keep track of cash flow, management, invoicing, payments, reporting, and pay runs. Users can choose from three monthly membership packages for Xero: beginning, standard, or premium. The software is available for iOS and Android devices. The software as a service (SaaS) model is used by Xero, and its solutions are sold on a subscription basis based on the kind and number of company entities controlled by the subscriber. Over 180 countries use its products. The company has a community of over 1,000 third-party apps and over 300 banking and financial partner integrations. On August 16, 2021, ACCA and Xero expanded their partnership to prepare Singapore's next generation of accounting professionals for the future.
Xero's Unique Selling Point or USP is that it is one of the fastest-growing software a service firms in the world, leading the cloud accounting markets in New Zealand, Australia, and the United Kingdom with a world-class team of over 3,500 employees. The mission statement of Xero reads, "To positively impact the world by helping small businesses thrive".
Xero Revenue :
NZ $848 million - FY ending 31st March, 2021
NZ $718 million - FY ending 31st March, 2020
Competitive Analysis of Xero
The SWOT analysis for Xero is presented below in a matrix followed by the detailed analysis report:
| Strengths | Weaknesses |
1. Best cloud security and unlimited users allowed
2. Global company with 2.7 million subscribers
3. Well diversified by providing multiple financial services in 800+ applications
4. High integration with financial institutions
| 1. Its mobile application not very comprehensive
2. Live support not available for subscribers
3. Lost the big US market to competitor
4. Expensive compared to competitors
|
| Opportunities | Threats |
1. SaaS and Accounting Software business to grow
2. Digital technologies and cloud services projected to grow substantially
3. Potential to increase its market share in Europe, Asia and US
| 1. Its cloud-based ecosystem can be impacted by data privacy laws.
2. Covid 19 pandemic has impacted and shutdown many partners businesses
3. High dependence on cloud service provider
4. Susceptibility to cyber attacks
|
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Detailed SWOT Analysis of Xero
Strength
1. Best cloud security and unlimited users allowed: Xero allows its subscribers to add unlimited users for any subscription plan they purchase. This makes the software very scalable for its clients. The use of software can easily grow as the business grows. Xero allows for bank accounts to be connected and can generate invoices for payment received. It can suggest matches between accounting entries and financial transactions taking place. Xero features one of the most secure cloud infrastructures. It uses amazon web services (AWS) as its hosting platform. Cyber security is an ever-increasing concern due to the rising number of sophisticated cyber-attack taking place. Xero uses multiple level of user authentication, data encryption, network protection, secure data centers to increase security and make itself and its clients safe from cyber threats. This New Zealand–domiciled public technology company, is certified as compliant with ISO/IEC 27001:2013 which is globally recognized as the premier information security management system (ISMS) standard. Xero complies with the Payment Card Industry Data Security Standard (PCI DSS).
The remaining section under "Strengths" is available only in the 'Complete Report' on purchase.
Weakness
This section is available only in the 'Complete Report' on purchase.
Opportunity
1. SaaS and Accounting Software business to grow: SaaS stands for software as a service. SaaS solutions are great for clients because they provide reliability, accuracy, scalability, accessibility and cost-effective solution. SaaS and cloud allow enterprises to focus on their business rather than maintenance, startup and ancillaries of IT infrastructure etc., if they had an inhouse software. Xero provides a cloud accounting software as SaaS product. The growth of SaaS goes along with the rise of adoption of digital technology across the world. The accounting software industry is expected to expand at 8% CAGR in the coming decade. It has massive scope because accounting being a horizontal is required by all the companies, be it big corporations or SMEs. It is applicable in all businesses across all verticals, be it Automobile, Health Care, FMCG, Government and Public sector etc. The accounting software business is expected to reach US $20.5 billion by 2026.
The remaining section under "Opportunity" is available only in the 'Complete Report' on purchase.
Threat
This section is available only in the 'Complete Report' on purchase.
The PESTLE analysis for Xero is presented below in a table followed by the detailed analysis report.
| Political | Economical |
1. Australia and China relation worst in decades
2. Increasing nationalism and protectionism | 1. Growth in number of SMEs and Start-ups
2. Global economic expected to recover and grow rapidly
|
| Social | Technological |
| 1. Adoption of digital and financial technology accelerated after Covid pandemic | 1. Accounting software’s to take over many traditional accounting jobs
2. Digitization driving small businesses to adopt cloud technologies
|
| Legal | Environmental |
1. Regulations relating to data localisation and data security
2. Regulations relating to accounting standards as per country
| 1. Rise of environmental accounting and its impact
2. Initiatives to reduce environmental impact of business |
On purchase the Xero SWOT and PESTLE Analysis PDF report will reach you within minutes. At rare times, a slight delay not exceeding 1 hour might be caused.
Detailed Pestle Analysis of Xero
Political
This section is available only in the 'Complete Report' on purchase.
Economic
This section is available only in the 'Complete Report' on purchase.
Social
This section is available only in the 'Complete Report' on purchase.
Technological
This section is available only in the 'Complete Report' on purchase.
Legal
1. Regulations relating to data localization and data security: With the rise of data analytics and big data, data has become increasingly important for the business. Businesses can use the available data to better target customers and optimize their operations, many businesses even sell the data they gather to other businesses. In many cases sensitive and personal data is also sold. With people and countries now realizing the importance and sensitive nature of data, they do not want the data of their citizens to be used/ accessed by other countries. Hence many countries are bringing in data localization laws which mandates the storage of data of their citizens in their country itself. This is intended to increase the data protection and data privacy of the people. This is inherently bad for companies operating on cloud as this directly affects them. Xero makes use of Amazon Web Services (AWS) as its cloud platform whose datacenters are in the US. If other countries embrace data localization, it will increase operational hurdles for Xero.
The remaining section under "Legal" is available only in the 'Complete Report' on purchase.
Environmental
This section is available only in the 'Complete Report' on purchase.
Major Competitors :
- SAP SE
- Microsoft
- Oracle
- QuickBooks Online
- Zeta Software LLC
- Acumatica
- Infor
- FINSYNC
- Sage Business Cloud Accounting
On purchase the Xero SWOT and PESTLE Analysis PDF report will reach you within minutes. At rare times, a slight delay not exceeding 1 hour might be caused.
TABLE OF CONTENTS
DELIVERY AND FORMAT
WHY CHOOSE US?
You may also be interested in other analyses of Xero:
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| Xero Porter's Five Forces Analysis |
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| Xero Value Chain Analysis |
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| Xero Covid-19 Impact Analysis |
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| Xero Segmentation, Targeting and Positioning (STP) Analysis |
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| Xero Ansoff Matrix Analysis |
|
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Check Out Analysis of Other Relevant Companies
References used in Xero SWOT & PESTLE Analysis Report
1. Investor Information | Xero US - https://www.xero.com/us/about/investors/
2. Xero Limited 2020 Annual Report - https://www.xero.com/content/dam/xero/pdf/about-us/xero-limited-annual-report-fy20.pdf
3. Xero Review 2021 | Accounting Software Reviews - business.com - https://www.business.com/reviews/xero-accounting-software/
4. Investor briefing full year results to 31 March 2021 - https://www.xero.com/content/dam/xero/pdf/about-us/xero-investor-presentation-fy2021.pdf
5. Why Xero investors should forget the US market - https://www.afr.com/technology/why-xero-investors-should-forget-the-us-market-20201110-p56d8y
The detailed complete set of references are available on request in the 'Complete report' on purchase.
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Xero SWOT and PESTLE analysis has been conducted by Mukesh Anand and reviewed by senior analysts from Barakaat Consulting.
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