Xero launches biggest number of products in its history

Cloud accounting software platform Xero has launched the biggest collection of products in the company’s 11-year history, including a partnership that promises to offer automated marketing for accounting firms, an educational learning platform for high schools, universities and businesses and a complete re-thinking of Xero Expenses.

The features have consumed much of the company’s growing research and development spend, which is 41 per cent of revenue.

The suite of products was announced by Xero chief executive and co-founder Rod Drury at this year’s Xerocon in Melbourne, which attracted more than 3300 people from 19 countries.

Mr Drury told The Australian Financial Review announcements at next year’s Xerocon would be even bigger.

“We’re really deep on machine learning and AI,” he said. “While we’ve released parts of our products to make it real, we’re focused a lot on the product side of things at the moment.

“We’ve really mapped out what the next generation of accounting looks like and we’ll show that when it’s ready next year. I’m so stoked we’ve been able to drop so much product, but I’m very excited about what we’re working on at the moment … next year will blow people away.”

Generating enthusiasm

Xerocon has grown from only 30 attendees in its first year to almost filling the main hall at Melbourne’s Convention and Exhibition Centre. The event generates such enthusiasm it can seem more like rock concert. It features DJs, a playground and a Xero hanging garden area decked out with beanbags and a fake lawn.

Mr Drury admits it can feel like a bit of a cult, which he loves.

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Source: Xero launches biggest number of products in its history | afr.com