Now this is what Traction and Credibility Taste Like at diversity.net.nz

Great for Xero that they’ve picked up one of the "big four". As announced over on the Xero blog Deloitte NZ has signed up as a Xero partner. Deloitte are one of the big boys – they don’t partner on a whim. They’ve also got international scale and presence so the partnership lubricates Xero’s global expansion plans.

Bridget Musker, Associate Director in Deloitte’s Accounting & Advisory practice focused on helping SMEs grow, commented…

For our clients, Xero dovetails brilliantly with our ‘Virtual CFO’ service where our Deloitte team is on call and available to assist businesses on all sorts of strategic, financial or management issues

Which pretty much means that they realise that accountants are traditionally on the back foot and being the first of the big four to partner with Xero gives them a point of difference when compared to the other players.

Well done Xero – I wonder who is next?

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16 Responses to “Now this is what Traction and Credibility Taste Like”

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1 Miki
Oct 9th, 2008 at 6:35 pm

Accountants as a channel – pretty sure I was sceptical about that. Looks like its working…
2 Ben Kepes
Oct 9th, 2008 at 6:36 pm

@Miki – no one was more sceptical than me – I’m not 100% convinced but this announcement sure helps
3 Ben Young
Oct 9th, 2008 at 6:38 pm

I was patiently waiting for an announcement like this, I was wondering why they hadn’t partnered yet. If you haven’t bought Xero stock yet, may be time to leap in.
4 Paul Lattimore
Oct 9th, 2008 at 9:15 pm

Possibly the safest bet on the Sharemarket today.
5 Ben Kepes
Oct 9th, 2008 at 9:19 pm

@Paul – no matter how bullish you are about Xero – I don’t think even Rod would describe it as the safest bet on the NZX – that’s a little over the top
6 Paul Lattimore
Oct 9th, 2008 at 9:32 pm

Let’s put it this way. Short of the Internet suddenly evaporating can you think of any reason why it’s growth in both subscribers & partners would not continue the current pattern?

Whether it’s “cloud based”, “SAAS” or whatever terminology you want to name it, the product is a solid one with a global market to tap into. In all seriousness I’d like to know of another NZX company with the potential of Xero. Can’t see one myself and I’ve been looking pretty hard.
7 Ben Kepes
Oct 9th, 2008 at 9:34 pm

@Paul – I’m not disputing Xero’s potential however your terminology was safe

Safe does not equate to potential – safe means slow and steady. Potential means risk and risk is the antithesis of safe

I’m sure even Rod would concur with this definition
8 Paul Lattimore
Oct 9th, 2008 at 9:50 pm

Interesting comment As Warren Buffett once said “Risk comes from not knowing what you are doing”. These guys know what they are doing.
9 Tim H
Oct 22nd, 2008 at 2:22 pm

I see someone has placed a sell order for 50,000 shares – I hope that this is not a director as I suspect…
10 Matt
Oct 24th, 2008 at 9:47 am

Traction? You want traction, Try getting Telecom on board! Just as BNZ did, Hopefully Telecom purchase Xero shares off the open market!!!
11 Carl
Oct 24th, 2008 at 10:19 am

Wow $3.5Mil loss in only 6 months, that is an extreme amount of cash burn… only 1 years worth of cash left at this rate, very scary stuff
12 John
Nov 12th, 2008 at 2:51 pm

Woop Woop!!!

Xero will be live on the Telecom Business Hubour site from tomorrow morning!
13 Mitch
Dec 5th, 2008 at 5:18 pm

Ben, any info on the Xero accounting edition being a new revenue stream? could this be a cash cow that has not been looked at by the public until now?
14 Afia
Dec 17th, 2008 at 1:00 pm

Xero Goes Global Dec 22! Best Xmas present ever!
15 Tim
Jan 28th, 2009 at 11:42 am

what on earth is 1place.co.nz doing, complete ripoff of xero… dashboard is exactly the same – font and everything
16 Paul
Feb 19th, 2009 at 2:46 pm

http://www.xero.com announce 4000 customers… thats 20 a day singing up now, it is not even the changeover period yet!