Xero’s business has evolved rapidly, transforming from a cloud accounting software to a global small business platform. We have revitalised our business in line with the rise of platform businesses globally, where users have the power of accessing data from multiple sources in one single platform – a single source of truth as we call it. This
This revolutionary platform strategy is made possible only with the support and synergy derived from our partnership with over 800 ecosystem partners.
At our Asia Roadshows this month, we unveiled our latest innovations that captures the essence of what it means to be a platform business and the steps we have taken to achieve success with our ecosystem partners.
Greater control and visibility of financial data
To ensure that Xero’s platform serves as the single source of truth for SMEs and their advisors, we continue to broaden and deepen our fintech partnerships to facilitate the real-time flow of financial data.
In Singapore, we have also partnered OCBC, a leading SME bank, to roll out bank feeds for our joint customers.
Globally, we have also announced a partnership with Stripe to build tools and features that give SMEs the ability to manage their payments easily within the Xero platform.
Tying it all into one platform with single sign-on
In the Xero ecosystem, SMEs get access to over 800 curated, certified third-party apps, over 200 financial institutions and an Advisor Directory, where over 800,000 small businesses search for local accountants and bookkeepers each month.
The new Xero Single Sign-On was introduced to create a more seamless experience for SMEs and their advisors and make it easier for developers to create connected experiences between the Xero platform and third-party apps. SMEs and their advisors will be able to log in using their Xero credentials, making for a simple and seamless sign-in experience.
Placing Xero partners on the map
To empower our community, we set out to leverage Xero’s network and platform to support our partners’ business development efforts. With that in mind, we have improved the Xero Advisor Directory to facilitate geo-targeting to generate leads and onboarding for new clients. A richer Xero Advisor Directory, already a major source of new business, will now make it easier for small businesses to find the right accountant or bookkeeper in their neighbourhood. Advisors can automatically geotag their existing client base to help demonstrate their areas of expertise in each major location.