Xero named a leader in IDC Marketscape

Read IDC’s worldwide SaaS and cloud-enabled small business finance and accounting applications 2020 vendor assessment.

A Xero investor sits at their desk reading an IDC MarketSpace report on their laptop.

“Xero offers fast-growing small businesses and their advisors a solution that provides deep cloud accounting functionality coupled with an ecosystem of 1000+ third-party apps to provide valuable access for small businesses to add point solutions as needed,” says Kevin M. Permenter, IDC Research Manager, Enterprise Applications.

Source: ‘IDC MarketScape: Worldwide SaaS and Cloud-Enabled Small Business Finance and Accounting Applications 2020 Vendor Assessment’ by Kevin Permenter, Frank Della Rosa, Shari Lava, April 2020, IDC # US45837020

A chart from the IDC report shows Xero at the upper end for capabilities and strategies, ahead of other products.

IDC MarketScape vendor analysis model is designed to provide an overview of the competitive fitness of ICT suppliers in a given market. The research methodology utilises a rigorous scoring methodology based on both qualitative and quantitative criteria that results in a single graphical illustration of each vendor’s position within a given market. The Capabilities score measures vendor product, go-to-market and business execution in the short term. The Strategy score measures alignment of vendor strategies with customer requirements in a three- to five-year time frame. Vendor market share is represented by the size of the circles. Vendor year-over-year growth rate relative to the given market is indicated by a plus, neutral or minus next to the vendor name.

Taking your accounting to the cloud

Sound accounting processes and financial data are essential to the agility and success of all small businesses. Now, more than ever, small businesses around the world are recognising the critical role of cloud-enabled finance and accounting software to sustain their ability to operate in this changed but digital world.

Compared to the spreadsheet and desktop options of the past, cloud-enabled finance and accounting software offer many benefits to small businesses and their advisors.

Exploring your options

IDC, the global provider of market intelligence, has done the hard work by assessing the major SaaS and cloud-enabled finance and accounting software solutions in the market.

Using a rigorous methodology based on in-depth quantitative and qualitative criteria, IDC produces a report and single graphical illustration of each provider’s position within a given market.

The IDC MarketScape: Worldwide SaaS and Cloud-Enabled Small Business Finance and Accounting Software Vendor Assessment looks at the most important areas for companies to consider when selecting the right vendor. The assessment compares the strategies, product and service offerings, capabilities, and current and future market success factors for each provider.

To see IDC MarketScape’s evaluation of Xero, please download our free excerpt of the report

Included in the excerpt is an overview of the overall market for cloud financial management and accounting software, as well as critical information necessary to make one of your most important financial technology decisions.

IDC Report