Xero recently passed one million subscribers on its global cloud accounting platform, meaning it has doubled subscriber numbers in less than two years and has added nearly 300 000 subscribers in the last year alone.
The online accounting platform Xero has announced it recently surpassed one million subscribers worldwide on its global cloud accounting platform.
Xero has doubled subscriber numbers in less than two years and has quickly grown to become a global accounting platform leader, adding nearly 300 000 subscribers in the last year alone. Xero launched in South Africa in 2016, and has grown rapidly since then.
“Five-and-a-half years ago, at 50 000 subscribers, we asked shareholders to imagine our business at a million subscribers,” Xero CEO and Founder, Rod Drury said. “We invested for the long term to build a business and ecosystem to achieve those numbers. It’s very satisfying to deliver on that promise.
“Starting around ten years ago with our first lines of code, it’s amazing to see the global community who have built businesses on our platform,” Drury said.
Accounting has gone global
With subscribers in more than 180 countries, many are now doing business across borders – not just in their home countries. Cloud technology has reshaped trade over the last decade, and we’re seeing the rise of truly global small businesses that have grown up without the need to operate within the confines of a single country’s borders.
“Only a global platform – on a single global code base like Xero – can offer the opportunity for small businesses and their advisors to expand their businesses offshore, connect to banks in multiple countries and use Xero’s technology and payment partnerships with Google, Apple, Square, Paypal, Stripe and others to do business seamlessly all over the world,” Drury said. “It sets in motion a global network effect as small businesses expand their trade between countries.”
“Many of the 100,000 business advisors who work with their clients on Xero have small businesses that import or export. The increasingly global nature of small business means that, like Airbnb, Amazon, and Facebook, accounting platforms must also be global. Surpassing one million subscribers positions us as a leading global cloud accounting platform. We’re just getting started.”
Ready for the AI generation
The next wave of accounting innovation is Artificial Intelligence (AI) and machine learning. Xero completed its complex migration to Amazon Web Services, consolidating the platform on a powerful set of technologies that help unlock the power of our vast connections and data. In the last 12 months, Xero has processed more than R10.9 trillion of global economic activity, giving it a unique and high-value dataset to drive insights
and machine learning.
Xero’s machine learning system can now code invoices for small businesses, categorize expenses and recommend accounting practices to a potential client, automating the busy work of accounting, freeing advisors up to focus on providing clients with expert advice.
“Machine learning and automation will open up the next phase of innovation in accounting, driving a transition in the industry bigger than the move to the cloud did ten years ago. With technology doing more of the time-consuming, data entry work, we will see more accountants take on advisory and virtual CFO roles within the small businesses they support,” Drury said. “Rather than just keying in data, they’re interpreting the output – and with the power of machine learning, they’ll provide higher level advisory services that help clients feel in control of their finances which is a key human function that cannot be replaced.”
Cloud innovation drove Xero’s rise to help more than one million subscribers. Machine learning and automation will be the wave which enables us to scale to service millions of small businesses and advisors around the world.
“Xero has evolved from the market challenger into one of the leading global cloud accounting platforms. The first challenger to surpass one million subscribers is a significant milestone for cloud accounting and validation for an industry which didn’t exist a decade ago. Together with our accounting partners and small business owners, we’re so excited to lead the industry innovation charge.”
CES: So long, and thanks for all the beer!
Last week, the Las Vegas expo showed off its fun side with state-of-the-art technologies for enjoying beer, writes BRYAN TURNER
From craft beer-making machines to robots that pour beer, CES had more beer than usual in Las Vegas last week. And even free beer if you found the right stand. Stampede’s saloon-style booth offered beer to visitors who tried out its latest drones, virtual reality, and other gaming products. No beer tech, though.
Here are some of the beer technologies that stood out:
LG HomeBrew – Craft beer made at home
LG’s HomeBrew craft beer-making machine, debuted at CES 2019, brings the brewing process home thanks to single-use capsules, a self-cleaning feature, and an algorithm optimised for fermentation.
Like a Nespresso coffee machine, the beer maker uses capsules, which contain malt, yeast, hop oil and flavouring. At the press of a button, LG HomeBrew automates the whole procedure from fermentation and carbonation to ageing. A companion app lets users check HomeBrew’s status at any time during the process, from their handsets.
The beer machine not only offers a simple way to make craft
Designed with discerning beer lovers in mind, HomeBrew allows for in-home production of batches of more than 4 litres of beer in a variety of styles. The following five distinctive, flavoured beers are available now:
- Hoppy American IPA
- Golden American Pale Ale
- Full-bodied English Stout
- Zesty Belgian-style Witbier
- Dry Czech Pilsner
The only catch? It takes about two weeks to make, depending on the beer type.
“LG HomeBrew is the culmination of years of home appliance and water purification technologies that we’ve developed over the decades,” said Dan Song, president of LG Electronics Home Appliance & Air Solutions Company. “Homebrewing has grown at an explosive pace, but there are still many beer lovers who haven’t taken the jump because of the barriers to entry, like complexity, and these are the consumers we think will be attracted to LG HomeBrew.”
Click here to read about the party speaker that holds beer and robots that pour beer.
CES: Alienware gets Legend-ary
At CES in Las Vegas last week, Dell’s Alienware released a family of high-end, thin, light, and affordable machines for both amateur and professional gamers – and a new identity.
Alienware marked CES 2019 as a brand milestone with the debut of a new design identity, Alienware Legend. It aims to set a new bar of excellence for what gamers want most – performance and function. Alienware says it evaluated multiple concepts and chose one that was the biggest and boldest departure from its current look.
Alienware Legend, says the company, stays true to the brand’s core design tenets, taking cues from its deep roots in sci-fi culture and its early industrial designs, to distinguish the brand from the rest of the industry. The new Legend design is optimised with cutting-edge thermal cooling technology to achieve and sustain overclocking power, improved AlienFX lighting, and ultra-thin screen borders. It also unveiled a new “three-knuckle hinge” design that reduces the overall dimension while creating a stronger assembly, all combining to yield a better gaming experience.
“We’re excited to come to this year’s CES with some truly groundbreaking products, next-gen software and strategic partnerships that will bring more people to experience PC gaming and advance the industry,” said Frank Azor, vice president and general manager of Alienware. “The legend design answers the call for more and better from our gaming community, and the new G Series laptops will make PC gaming even more accessible to those looking for high-performance gaming at a cost they can appreciate.”
Click here to read about Alienware Legend in action with the Area-51m and m-series laptops