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Xero and ANZ in Australia

This morning we announced a marketing and joint referral partnership with ANZ in Australia.

Becoming established in any emerging market takes time and lots of effort and we’re thrilled to take this step with ANZ. We already have a relationship with ANZ whereby transactional data from ANZ customer accounts is fed automatically into their Xero account each day. But this exclusive marketing partnership takes things to a higher level. Xero will be promoted to ANZ’s 450,000 strong small business customer base and we’ll be working on more sophisticated integration to make it more convenient for our joint customers to use both systems.

It’s been great working with the ANZ team who have had the foresight to consider Xero complementary to their Internet Banking. They really get how valuable it is for their small business clients to have accounting information that’s up-to-date.

“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.”  - Nick Reade, ANZ General Manager Small Business, Australia

We’re also excited the agreement includes exploring opportunities in Singapore, New Zealand and more broadly across the Asia Pacific region.

The partnership with ANZ extends our strategy to build relationships with other broad players such as telecommunications carriers. We are already working with Telecom in NZ, Telstra in Australia and BT in the UK. We recongise that banks are also an important channel for enabling solutions to the massive consumer and small business markets. And we believe Xero has an important  part to play in providing next generation solutions for Internet Banking.

To be clear, we will still work with other banks in Australia on getting their feeds into Xero and other features. Small businesses bank with a variety of institutions and we want to work with all Australian businesses. However, this marketing partnership is exclusive to ANZ. They are our Banking Partner to build awareness of Xero in Australia.

We appreciate the time the team at ANZ has put in to get this partnership across the line. We’re looking forward to working more closely with you.

 

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11 comments

Harry Sims
3 June 2010 #

Great work, the timing is perfect to take advantage of the FYE (accounting software changeover period) in Australia.

Good to see ANZ is a forward thinking company and they understand small business.

Tony Underwood
4 June 2010 #

I would also love you to work with non-bank financial institutions as well. (I hold an account with Credit Union Australia).

Is there any progress being made, as a lot of us prefer to be known by name – not number?

Mark Refardt
4 June 2010 #

If you had gone to Massey Rod no doubt Michael Harte would give you more time! :)
Not quite sure why NAB hasn’t cross pollinated off the BNZ connection, though no doubt you have made them call an emergency meeting at Docklands this monring.

Chris Dawes
4 June 2010 #

I think that if you had to middle teirs of pricing you would attract many more small businesses.. I think 29.95 would be a great price for up to 50 invoices

“Small, Ideal for freelancers and small property investors.

* Up to 5 Accounts Receivable and 5 Accounts Payable invoices per month
* Up to 20 reconciled bank statement lines per month”

Yeah because you only get five bills per month? Phone, power, gas, mobile, internet… whoops… no more for you!

20 lines per month? Who lives in this dreamworld. My wife is a violin teacher and she would use more than this and she’s a the person who would be “ideal” for this currently lame useless package. She has 44 customers (students) and invoices three times a year? what about quarterly restrictions?

Love your product, FIX YOUR PRICING! Everyone I talk to laughs at the 49/month price… should be 29.95 for that kind of service (maybe limit it to 50 invoices/month or 150 per quarter, unlimited lines – who limits lines??) and put in an intermediate package…

Good work with ANZ…

Tina Kaye
4 June 2010 #

Congratulations… Exciting news. There is no turning back now…

Tony Underwood
7 June 2010 #

Have to agree with the general theme of Chris’ comment … I find it is too hard to sell Xero when the online version of Quickbooks is $275 per year – bells & whistles included.

Rod, you have a great product here that I enjoy using, but how about the Xero team stop listening to Rob Nixon’s marketing sermons & get realistic about your prices – even charging us (ie Australians) a more equitable price compared to your other markets would be a good start!

Let’s take Xero out of the quirky niche market & get it into the mainstream & put MYOB & Quickbooks to the sword!

Rod Drury
9 June 2010 #

@Chris – Appreciate your feedback in pricing. No immediate changes planned but always monitoring this feedback and uptake of the different pricing plans.

@Tony – We understand that Quickbooks Online Edition for AU is $275 per year per user? With Xero we offer unlimited users for the one fixed monthly price, ensuring everyone within the business and also any advisors can have access to the information they need when they need it.

Regarding the comparison of Xero’s pricing between different country versions, these are within a few dollars of each other based on the long run average exchange rates. The exception to this is the Global version, which is priced from US$19/mth. This is a little below the Australian, New Zealand and UK country versions, reflecting the fact it does not offer the same level localisation such as sales tax and annual reporting provided by the country specific versions.

Cheers

Rod

James
17 July 2010 #

Hi Rod,

I look forward to using your product very shortly, although I have to also chime in that I feel that your offering is a little overpriced for the smaller end of the SME market.

Personally, I’ve never had a problem with paying a bit more for a superior product that will save time (and therefore money) in the long-run – so if the integration features work as advertised, I’ll be a very happy customer.

Kris
24 August 2010 #

Hi Rod, wrt to Xero’s pricing – what I can’t get over is that Xero’s cost per month is per organisation. QB’s advantage is that for $299pa per user I can operate as many companies/accounts as I want (currently 6). With Xero this jumps to $2700pa after the 25% disocunt for multiple companies that you offer. I view this as the biggest stumbling block to converting for a sme liek ourselves.

Rod Drury
24 August 2010 #

It’s always tough to get it right for everyone. Rather than charge per person, where people unsafely share logins, we went for unlimited users on as many computers as you want for a flat price per company (with discounts for multiple companies). This suits the vast majority of scenario’s.

If you have 6 companies they probably do not all require the full version of Xero. Depending on the number of users you have I suspect we’re not that much different in pricing. Xero includes bank feeds, support, you don’t need servers etc etc so we know we provide compelling value for each organisation compared to QB.

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