This increase in uptake of cloud accounting services is linked to the findings of a report by “The SME of the Future” which found that cloud technology came second only to smartphones as the technology that had had the biggest impact on increased business efficiency the most in the past five years. In the past 12 months, its ANZ data shows 259 million invoices passed through the platform $1.5 billion worth of transactions being processed, and more than 1.2 million employees paid through Xero payroll per month.Īlthough the ANZ region is comfortably Xero’s biggest market, contributing 66 percent of its $256.5 million in revenue in the first half to September 30, it expects the UK and US to overtake it in the future. Xero started to become a major conduit for economic activity across ANZ. Xero, a leading cloud-based accounting and business technology platform, reached an important milestone in its continued growth trajectory – it reached more than a million subscribers across New Zealand and Australia (ANZ) and now surpasses 1.5 million users worldwide.

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