Interesting announcement. I'm wondering how this fits in with Telstra deal in Aus and BNZ in NZ. Sounds positive though.
XRO
03/06/2010
GENERAL
REL: 0830 HRS Xero Limited
GENERAL: XRO: Xero enters into distribution agreement with ANZ
MARKET RELEASE
3 June 2010
Leading online accounting software provider Xero (XRO) has entered into a
regional agreement with ANZ to distribute its online accounting services to
ANZ customers. The agreement allows for exclusive distribution in Australia
and to explore opportunities in Singapore, New Zealand and more broadly
across the Asia Pacific region.
Xero will offer ANZ's 450,000 small business customers in Australia an
online, integrated banking and accounting solution that allows them to
understand trading performance and cashflow position in real-time.
"This agreement reflects the synergies that Xero and ANZ share in supporting
small business owners to meet the challenges of operating a small business by
giving them the tools to take greater control of their finances," says Xero
CEO Rod Drury.
"We're excited about the prospect of working on more sophisticated
integration between our respective online systems for the convenience of our
customers,'' he says.
Nick Reade, ANZ General Manager Small Business, says managing cashflow is one
of the main issues for small businesses. "The integration of Xero's software
provides our customers with a simple and convenient solution to manage their
cashflow and provides greater transparency around trading performance."
Mr Reade says this agreement confirms ANZ's commitment to support small
businesses through both traditional and value adding services to help them
start, grow and thrive.
For more information contact:
Helen Matterson
Communications Manager, Xero
helen.matterson@xero.com
+64 21 125 8434
Rod Drury
CEO, Xero
rod.drury@xero.com
+64 21 457 012