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Strategic alliance with KPMG in the UK

In London this morning we’re announcing the launch of a strategic deal with KPMG, one of the Big 4 global accounting firms.

This is a significant milestone for the adoption of cloud accounting in the UK and one we expect will further accelerate our growth in the UK, the most hotly contested online accounting market globally.

KPMG London

A cornerstone of our strategy is to better equip accountants to play an important role at the cutting edge of service delivery and collaboration with small businesses in the cloud, so for one of the big guys to choose Xero’s platform upon which to build a new division for SMBs is no small endorsement.

So, what’s the big deal?

KPMG’s leadership in the UK recognised that the emergence of online accounting presented a new volume market opportunity into which its client advisory services could be channeled to create a significant new line of business for an accounting brand more commonly associated with larger businesses.

KPMG’s UK Chairman, Simon Collins commented,

“Today’s partnership further demonstrates our commitment to small and early stage businesses that form the backbone of the UK economy and its future growth,” said Collins. “Xero is an impressive software platform, supporting delivery of our services to this segment where technology is increasingly transforming the way we do business.”

In looking for a online platform partner with whom to build this new division, KPMG saw Xero stand out in a number of important dimensions.

  • Accountants are central to Xero’s strategy.
  • The new generation of online technology providers such as Xero, Vend or ReceiptBank enable accounting firms to deliver services in a way that was impossible with desktop accounting software.
  • Xero’s Single Ledger and ecosystem of 300+ Add-on solutions greatly assists with KPMG’s service delivery.
  • Xero is now the UK market leader in cloud accounting, with more customers in the UK than any other provider, notably more than the old incumbents Sage & Intuit.
Cloud accounting now at a tipping point

In winning KPMG’s endorsement we believe their move into online service delivery will be seen as something of a starting gun for the remaining 18,000 UK accounting firms that have yet to fully embrace the new online world.

The first era of online accounting adoption was largely the preserve of the smaller, arguably nimbler firms but we’re now noticing a trend towards medium sized and larger firms also picking up that the economies of online service delivery are now too good to miss out on.

 

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4 comments

robbie dellow
1 April 2014 #

Congratulations to Gary and the UK team.
A fantastic endorsement from such a prominent accountancy firm.
You guys sure have an exciting time ahead.

Lawrence John
2 April 2014 #

Fantastic development, for a company demonstrating such acceleration – this is a real milestone!

Eyitayo Olabode
4 April 2014 #

Brilliant, absolutely brilliant.

Ricardo
6 April 2014 #

Well Done! Keep up the great job. Looking forward to read the future update. Go Xero UK!

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