Continuing the strong momentum we have seen in Australia, I was invited to speak on Sky Business News by Peter Switzer, host of Switzer TV and recent Xerocon MC. The focus was on the imminent shift among SMEs to the cloud. I also spoke about Xero’s strategy in the Australian market and why our partners are such strong advocates for our company.
The success we have seen in Australia is huge. We are signing up 200-300 new clients every day, and have grown to 79,100 paying customers. This is almost two and half times the previous year. It has proven that small business owners want an alternative to traditional desktop solutions.
With AUD$200m in the bank and no debt, Xero is in a far sounder financial position than our competitors in the Australasian market. This week also marks the beginning of our October roadshow, where the Xero team will be travelling to seven cities across Australia. They will be talking to new customers about our product and the benefits of the cloud.