When David Barrett and Rod Drury announced a global strategic partnership between Expensify and Xero at the inaugural ExpensiCon in May, they weren’t just thinking about the commercial benefits of such a partnership. David and Rod, founders and CEOs of Expensify and Xero, respectively, share a deep commitment to empowering small businesses by harnessing the power of technology.
“Not only do our two solutions fit together like puzzle pieces – Expensify takes care of expense management while Xero streamlines the rest of the accounting process – but our partnership goes so far beyond that,” says David. “It’s about shared values. It’s about our joint commitment to providing top-notch financial management tools to small businesses at a price they can afford.”
A relationship that works
As Expensify continues to work with Xero, we’ve developed one of the most comprehensive integrations with the Xero platform. As a result, we see huge success whenever the two apps partner together, regardless of the market or geographic location.
Simply put, people just want a seamless experience for their accounting and bookkeeping needs. Expensify and Xero are here to help.
With this global strategic partnership, more users will have access to tools that save time, make compliance easy, and alleviate the headaches of business administration. “Xero’s open platform has become a key competitive advantage for them in the accounting field,” notes David, “but more importantly, it has created a culture in which businesses realize that we can all elevate each other by working together to solve real problems, rather than believing that it’s a zero-sum game.”
An emphasis on small businesses
When David spoke to the U.S. House of Representatives Committee on Small Businesses in 2015, his goal was to highlight how Congress can foster an economic ecosystem that allows small businesses to thrive. “Many people don’t realize that 75% of Expensify’s revenue comes from businesses with fewer than 100 employees,” says David. “These small organizations are the bread and butter of our work, and we’ve focused our product around two core commitments: building for the small business, and making sure a customer never outgrows our product.”
After eight years, Expensify is still a small business itself, with just over 100 employees across five offices on three different continents. “It would have been impossible to reach our current scale if other companies like Xero hadn’t built affordable tools for businesses like ours,” David explains. “We focus on building a tool that can help small businesses scale their processes, but maintain the promise that our product will always grow with our customers.” These two commitments have allowed Expensify to serve global companies such as Uber, Yahoo, and Kayak, despite the focus on SMBs.
Why integrations mean success for all parties involved
With such a small team serving so many customers, plugging into the Xero ecosystem has helped Expensify reach a wider audience without having to build an enormous sales engine. David Wieseneck, VP of Finance at the classifieds startup letgo, says it best: “As a user of both Xero and Expensify, I love that Expensify feels like a seamless extension of Xero rather than a separate system.” Because Expensify is already a perfect fit for Xero users, the company can focus its energy on building the best possible product and then leverage the power of the Xero network to bring its product to new users, rather than spending time chasing cold leads in new marketplaces.
After opening a UK office earlier this year, Expensify will be officially announcing the launch of its Australian office at Xerocon South. Now that Xero and Expensify have followed each other around the world (Xero grew from New Zealand and Australia to the UK and US; Expensify has followed the opposite trajectory), the two companies will continue to work together to solve the accounting woes of small businesses on a global scale.
This blog was submitted by Gabriella Horowitz from Expensify.