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ARMANINO ADOPTS XERO

Jamie Sutherland, XeroWhen I see stories about the growth of Xero, I think of when a new product called QuickBooks hit the market. When it came roaring in the 1990s, the statement was products like Peachtree were disposable. People bought them and didn't use them. And now, accounting firm, Armanino, has adopted Xero, the low-end online software from New Zealand, for providing outsourced accounting services to its clients. It's a big win for the rapidly growing application company, which is still very small compared to its competitors.

The deal shows "that our product is meeting the needs of accounting firms of all sizes," says Jamie Sutherland, president of U.S. operations for Xero. While Armanino is picking up the product, that does not affect its use of Intacct to provide outsourced services, a spokesman said. "We are not moving away from Intacct for outsourced accounting," he said. "We're just accommodating different clients in different stages of growth with different products that meet their needs." Oh yeah, the reason Xero reminds me of QuickBooks is that periodically, Intuit Brad Smith reports that about 20 percent of those who buy his company's low-cost accounting product, never use it. Sound familiar?
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