Online accounting company Xero has signed a deal with ANZ that will see its products offered to 450,000 small business customers across the Tasman.The listed company (NZX:XRO) announced this morning that it had entered into a regional agreement with ANZ t
Online accounting company Xero has signed a deal with ANZ that will see its products offered to 450,000 small business customers across the Tasman.
The listed company (NZX:XRO) announced this morning that it had entered into a regional agreement with ANZ to distribute its online accounting services to ANZ customers.
Xero already has automated daily bank feeds with the National Australia Bank, ANZ and Commonwealth Bank in Australia, all the major New Zealand banks and with HSBC in the UK.
Under the new deal, Xero has exclusive distribution in Australia, but it also leaves the door open for further opportunities in Singapore, New Zealand and across the Asia Pacific region.
Xero will offer an online banking and accounting option that allows its customers to understand trading performance and cashflow position in real-time.
Xero chief executive Rod Drury was upbeat about working on “more sophisticated integration” between the two online systems.
“This agreement reflects the synergies that Xero and ANZ share in supporting small business owners to meet the challenges of operating a small business by giving them the tools to take greater control of their finances."
ANZ small business general manager Nick Reade said managing cashflow was one of the main issues for small businesses and the new agreement provided a “simple and convenient solution” for that, while also providing greater transparency around trading performance.
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