With the evolution of open ecosystems, apps that would have previously competed, now integrate and work together. This comes as a result of the expectation that data will flow in and out of their apps, fostering collaboration and communication.
Gone are the days where software was kept on servers, inside operations on lockdown from your potential competitors. Today, refusing to collaborate in marketplaces fueled by open APIs holds the potential to withhold a world of opportunity.
Collaboration is at the core of our ecosystem
Xero now has collaborations with more than 500 add-ons. While most of these partners offer vastly different products, some do have similar features to the Xero platform. For our mutual customers, they benefit from the ability to plug and play a deep vertical solution which works for them. Take Gusto, a Xero add-on which offers payroll combined with benefit management and sickness and vacation tracking. Cloud-based apps all have one aligning purpose: to help build connections that make doing business easier for everyone.
Both Expensify and Tsheets are great examples of companies that have been able to leverage our ecosystem by creating effective and clean integrations with our small business platform.
Discussing the Xero and TSheets’ integration, the time-tracking app’s CEO, Matt Rissell, says his team chose to work with Xero because of a shared love of customers and a drive to please them.
“Like with any partnership, we look to see what products can add value to our customers and benefit the end user – the employee,” Rissell says. “Being global partners with Xero, a company that values innovation, speed, and a true passion to help small businesses succeed, aligns perfectly with our TSheets mission and culture.”
David Barrett, Founder and CEO of Expensify, explained how this software business model is changing.
”The idea that individual software must be all-encompassing is a thing of the past; we live in an era where add-ons should be embraced instead of being seen as a threat,” Barrett says. Xero CEO, Rod Drury, built this company around that sentiment.
“Technology is creating a new generation of companies that increasingly choose to collaborate rather than compete, even if they have overlapping or competitive offerings,” he said.
“This transparent way of doing business is transforming the way services are delivered and products are developed. Xero now collaborates with more than 500 add-on integrations in our Marketplace, helping to establish a new pace of innovation in the small business SaaS marketplace.
“There are a number of factors propelling this new wave of collaboration, many of which are derived from the increasingly transient workforce where founders and staff no longer stay at the same company for life, rather choosing to move between companies and build networks along the way.”
The new Xero Marketplace
This notion created the idea to build an open platform of unity and collaboration, the Xero Marketplace. With over 700,000 subscribers, the Xero Marketplace is a great starting point for software startups to catapult th.
Expensify’s David Barrett spoke to us about the impact that being an ecosystem partner has had on their user rate.
“Being a Xero ecosystem partner has increased our user acquisition and strengthened our global strategic partnership, which has allowed us to coordinate meaningful go-to-market initiatives together and develop relationships with top account firms around the world,” Barrett says. “This partnership has been beneficial to both of our teams, so much so that Xero received our Partner of the Year award at our inaugural ExpensiCon.”
There’s no doubt that collaboration is the way forward, this is something many founders figured out a while back.