Xero taking Sage's market share
At Prime we have always kept a close eye on the ever increasing advances in technology to see how they can help us either:
- run the practice more efficiently
- offer additional services to clients
- help clients run their businesses more profitably
We have been big believers in Cloud technology in recent years and its forerunners in the form of, for example, Application Service Providers. The names have changed but the principles have remained the same.
So in 2009 we put our first client on Xero
, a cloud-based accounts software system for SMEs.
At the time Xero, a New Zealand based company, was only a couple of years old and had just appointed their first UK CEO, heading up a UK team of less than ten people with no physical office.
18 months ago we were invited down to see their first 'proper' office opened in Milton Keynes.
12 months ago they had 15,000 users in the UK. Today they have 30,000 users in the UK and have just opened a second office in London.
Globally they employed 278 people this time last year; they now employ 584, and are still looking for more developers. They are definitely here to stay.
We now have 240 clients using it.
Last week at their second annual UK conference they held a press briefing announcing their latest numbers, following which £200 million has been wiped off Sage's
market capitalisation as city analysts realised
that 'cloud' is here to stay and is the future for SME accounts.
We are proud to have played our part in showing businesses that there is a better way of doing things rather than follow the crowd. We are looking forward to continuing that in the years to come.