Thx CJ. Nie article and I see this USA guy also has other relevant blog posts too.
Nice to see his comparison of Intuit ($19bill m/cap) with Xero.
Printable View
I am not sure of your point here Steve. Are you saying that accounting systems provided by third parties are not a good idea? My understanding is that it is very easy to export your data from any of these systems and then reimport it into another system or even a simple spreadsheet.
Or are you selling an alternative system that you have designed and think is simpler? Not being a programmer most of the info above is lost on me and I assume that you are just providing a description of how your system works in the hope that people will adopt it.
Is this forum the launch pad for a competing product?
Also I assume that Zero that you refer to is Xero? Is this a deliberate attempt to ridicule the company that this thread is dedicated to or just a misunderstanding?
I think you've made your own point surfersteve - the average small business owner has no clue what you just said and frankly doesn't want to know (they have a business to run after all). They want to pay a nominal sum every month that they can expense and have an intelligent and simple system run it for them. You also don't take into account the years of change and innovation ahead of us - complete online tax filings at a push of a button, valuable information about the vertical you're working in - all of this that Xero will continue to innovate and stay on top of, stuff that the average small business user has no hope of managing with their simple text file or excel document as you advocate.
Blah, blah, blah. Didn't understand much of that.
Or, you could pay Xero $600pa and have a system that has system controls audits done on it. I wouldn't want to be an auditor, auditing a custom built accounting system (in fact I wouldn't want to be an audit but that is beside the point).
Yes - only $600pa - Which I value at less than 2 hours of my time. How long would a spec built accounting system take to build and maintain? Remember Xero is constantly being upgraded and improved.
I hope you have a marketing department in this company of yours because somebody needs to translate this into English. I haven't got the faintest idea what you are talking about.
I am also struggling to see how this relates to Xero? I think there is a separate forum for product advertising. Maybe you should post this stuff there?
I think any company on the interwebs is doomed then!Quote:
my apologies, the point i have badly floated is that a product that is built using the same technology that is freely available to everyone, html and javascript and SQl is a product that any company in any country can compete against. Zero sum game...
So thats what you are saying. There is nothing unique about Amazon.com, in fact it was copied in NZ by Trademe. Now that Trademe has the first mover advantage in NZ, Amazon hasn't even bothered.
I have always said that Xero biggest risk is that one of the big established players will launch a similar product. Currently their products aren't as good. There is also competition from new small companies like Wave.
But you also need to remember that Xero only needs to get 1 or 2% of its target market in the US and it will surpass its current target of 1m customers.
Dude, SuferJoe or whatever .... Think about what you are saying here. Having quad core processors for the 'average' user to access software. But that is gong back in time from where we are heading with cloud technology, where all the user needs is a 'dumb terminal' that only has browser capabilities. Because that is all they need! Let the companies that run the services look after all the heavy infrastructure and the resultant security, backup, compliance issues. That's what this shift is all about.
Sure you and your team (with due respect, maybe Indian) have written some products ... I wish you the best with gaining traction with them. The thread here is not your target market though. Knock on the door of the Accounting Assoc, maybe or got to the Zero thread, or create one if it doesn't exist.
Whats far more interesting is what is happening with the Xero share price today. Down $1.30. That's a massive drop following on from the sell-off over the last week or so.
I'm not aware of any news that would have precipitated this - just seems to be a sell-off followed by some panic to get out (perhaps by those who recently bought in at high prices) before it goes even lower which of course makes it go even lower. It will be very interesting to see what happens. Markets are funny things expecially when there are no fundamentals to assess and there are widely varying views on the strategy and implementation.