Power of Two: Xero Partners with Dropbox
New Zealand-based cloud accounting software Xero forms a strategic alliance with California-based file hosting service Dropbox to help small businesses customers simplify their accounting workflow.
The integration of the two cloud giants will benefit small firms, especially start-ups, as it will improve efficiency by allowing users of Dropbox storage to share documents directly from their personal or business accounts with their accounting systems.
The companies promised to unveil more features within this year.
The Power of Listening
The decision to launch the partnership for Dropbox was influenced by their recent survey. The company asked Australian small and medium-sized enterprise (SMEs) how cloud computing would be used within the next 12 months, to which they answered: online backup, file sharing, collaboration, and accounting. Dropbox already satisfies the first three necessities; but with Xero as their new partner, it is set to fulfill all four.
“Cloud solutions from Dropbox and Xero provide an opportunity for rapidly growing businesses to accelerate and differentiate their services and offerings,” Charlie Wood, managing director for Dropbox in Australia and New Zealand, said.
Dropbox is also one of the major event sponsors for the upcoming Xerocon in Melbourne in August, with Wood as one of the inspirational speakers.
The Power of Revolutionising
Xero was recently hailed the Most Innovative Growth Company by Forbes Magazine, and has become one of the fastest growing Software as a Service (SAAS) companies.
It has emerged as the leading cloud accounting solution in three countries – New Zealand, Australia and the United Kingdom. Over the years, Xero has built relationships with over 16,000 accounting and bookkeeping partners, and now connects to over 7,500 bank feeds with more than 5,000 financial institutions globally.
“Our partnership with Dropbox is another big step in our efforts to demonstrate continuing innovation and support for small businesses,” Chris Ridd, managing director of Xero in Australia, said.
Xero has been teaming up with tech giants to boost its presence. Just last month, it had a similar agreement with Google to integrate its apps and tools, making it more convenient to manage files, and create invoices and quotes. Other add-on business apps from Xero include productivity software Evernote, online payments system PayPal, and point-of-sale (POS) & inventory software Vend. It is now building out its penetration in the US market.
Dropbox, on the other hand, is on its mission to convert more of its 400 million users into paying subscribers. Dropbox for Business, once known as Dropbox for Teams, adds IT-friendly features including Active Directory integration, single sign-on and an admin console for managing corporate users. Some of the businesses that are already using this powerful tool include streaming service Spotify, clothing company Under Armour, digital cable and satellite TV channel National Geographic, and product design company Ideo.
As Xero partners with Dropbox, doing business in the cloud has never been easier.
The Outsourced Accountant supports Australian and New Zealand accounting firms by helping them understand and implement outsourcing solutions to help them become more proactive and truly add value to their clients. If you want to know more about outsourcing, call us at 1300 896 522 / 0800 452 853, and download our e-book.