There are definitely parallels between Apple and Xero in that regard. I wrote that in one of my earlier posts. It was just an observation that offers insight into the irrational stock price and admiration for an incomplete accounting solution. And here is what people should think about before drinking the the kool-aid. A few weeks ago, everyone thought that Xero had a massive headstart on Intuit. QBO looked clunky and Xero in good shape. We thought that Intuit was years away to come up with something that can rival Xero. Turns out that they have something that is more functional and cheaper today.
Any accountant that forces Xero on their US clients risks their reputation and peers will regard them as affiliate marketers only. On top of that, those accountants will have to work with a frustrating program that relies on too many 3rd party solutions and community support. Is this the best long-term solution for any serious business? Would you trust all your or your clients' finances to a foreign company that may go bust further down the road? How do you break your clients that they have to wait for some time next year before they can issue quotes?
http://boxfreeit.com.au/2013/11/11/x...ome-next-year/
Quote:
In fact, Kiwis should ask their accountants why they prefer Xero. Hopefully it's not just for the commission?
How future-proof is their technology if it takes them more than 3 years to integrate the functionality of quotes. Do they have sufficient cash-flows to pay for Microsoft servers? Btw, Microsoft and Intuit have an interesting history. One red flag should be enough to stop you from investing into a speculative stock. I think it's easy to see a lot of red flags even if you barely scrape the surface.