Culprit are people like you who blame other people first without the full info. http://money.cnn.com/2017/03/02/tech...inkId=35062825
Printable View
Culprit are people like you who blame other people first without the full info. http://money.cnn.com/2017/03/02/tech...inkId=35062825
Xero must be around the 1,000,000th customer now. I wonder if they will announce/celebrate, or just leave it until their annual result?
Great news today
WELLINGTON, 30 March, 2017 - Xero Limited (NZX: XRO; ASX: XRO) today announces that it recently surpassed one million subscribers worldwide on its global cloud accounting platform.
“Xero has doubled subscriber numbers in less than two years and has quickly grown to become a global leader in cloud accounting, adding nearly 300,000 subscribers in the last year alone,” said Xero CEO and Founder, Rod Drury. “Achieving more than a million subscribers is a significant milestone, establishing Xero as a leading, global innovator of small business software.
I had hoped for more excitement but I guess its just confirmation that things are heading in the right direction. It would be nice to see exponential growth as new markets are opened up. South Africa and Singapore appear to be fertile ground. Maybe 2 million in 2 years?
Xero is just a seller of accounting programs, on time payment. With one exception all of the info is stored on their servers. I am not in favour of cloud storage. Memory is so cheap now, it is possible to have numerous backup. If Xero goes down, it will be big. Still they are following a long term goal which could pay off, but no doubt there will be a large amount of competition coming as already has shown from MYOB and its similar product. I see by the time they become profitable, their customer base will start eroding through competing providors.
A simplistic analysis. MYOB is playing catch-up, and was a dog till XRO came along. XRO has a secure global footprint and is a clear leader in Australasia and UK. Sure there are risks with cloud storage, however those who lost their computers and data due to natural disasters such as the Canterbury earthquakes appreciate cloud storage as a better/safer option. As to revenue degradation caused by competition this is unlikely as XRO will continually add new services and new revenue streams to its million plus users.
I know what you're saying. I've bought 700 2gb USB's, I hide them under floorboards, leave them with friends, keep one in a perpetual courier system worldwide just in case there is a natural disaster. I really believe that I need to know where my data is at all times so what I do is I back up everyone of my multiple hard drives, copy all of my emails into text documents and make sure that I print them and file them in date order. It's very cost effective and definitely the future. Of course, I still use internet banking because that's not in the cloud right?
Xero did go down. And it was big, but it was back up in less than half a day.
Think of it from the other end. If a company office/building etc gets hit by a natural disaster, your accounting people can keep your business going just by just logging on from another location (their home/different city etc). If you are a small business, that sort of advantage has only previously been available to large companies who can afford an hot site. That is pretty good from a small business perspective and likely worth the occasional outage considering they don't have to worry about data backup strategies etc.