Xero offers its customers well-designed accounting software in the cloud for small and medium businesses. While Xero isn’t hugely popular in the U.S., it is listed on the New Zealand Stock Exchange and has more than 100,000 paying customers around the world. The company is most popular in New Zealand, Australia, and the U.K.
“Xero aims to be the accounting solution for today’s small business owner,” said Jamie Sutherland, Xero president of U.S. operations, in a canned statement. “iOS users have benefited from Xero Touch, and now it’s Android’s turn.”
The two primary things Xero for Android hopes to help customers with are:
• No more delayed invoices — Create invoices on the spot right from your phone, as inventory functionality makes it fast and easy to itemize invoices. With customer contact details available in the app, new invoices can be emailed right away and overdue invoices can be followed up on with a call and re-sent with just a few taps.
• No more lost receipts — Gone are the days of crumpled expense receipts lurking in pants and purse pockets. Users can snap photos of receipts that are then instantly uploaded into their accounts. Expenses can be submitted right from their phone.
Xero has raised $33.2 million in capital to date, from investors including Peter Thiel, Craig Winkler, and Sam Morgan. Its latest $16.6 million round was focused on expanding into the U.S.
The company additionally released several statistics about mobile business users that help illustrate why its app could be important to small businesses: