XERO REVS TO DOUBLE IN 2012
Xero says that revenue for the year ending March 31 will be double the roughly $7.7 million reported in fiscal 2011. Last year’s figure is calculated at the current exchange rate for the New Zealand dollar.
And while Xero's online accounting package is aimed at small business, some of those who have seen the product before the company started setting up its operations in the United States think it can scale upward nicely. Xero has three editions. For $19 per month, the Small plan allows users to send and receive five invoices and to reconcile 20 bank statement lines per month. The Medium plan offers unlimited invoices and bank reconciliation for $29 monthly while for $39 per month, the Large plan adds multicurrency to the Medium plan's features. Xero is fueling the bank rec operations with direct feeds from Yodlee. The company says it has 5,000 direct bank feeds in the US. And 6,000 internationally. The operations in this country are headed by Sage vet Jamie Sutherland, who is based in San Francisco. Last modified on Sunday, 16 June 2013