Xero hooks up with KPMG

TOM PULLAR-STRECKER
Last updated 10:56 31/03/2014

Relevant offers

Industries

Inland Revenue pays for trans-Tasman commuting Talley's Group charged over tuna boat death Migrant influx will be housed, says Key TSB Bank confirms ongoing talks with shaky Solid Energy Public servants could lose out on MP pay change: Andrew Little Rocket Lab teams with US giant Lockheed Trademark fight between Mr Zogs Sexwax, Zoggs ends Blue Chip's Mark Bryers makes last trip to try to lift bankruptcy Law to change on MP pay rises Immigration may boost house prices: Treasury

Software company Xero has announced a "strategic alliance" with KPMG in Britain.

Xero said KPMG would set up a new division in Britain to provide online accounting and tax services to small and medium-sized firms, for which Xero's cloud-based accounting software would play a "central role".

It expected the new division would be operating by next month.

"It is very gratifying that an organisation of KPMG's standing selected Xero to be its technology platform partner for their online services, confirming our belief that cloud accounting is fast becoming the default platform for both accounting firms and small businesses," the managing director of Xero's British subsidiary, Gary Turner, said in a joint statement with KPMG.

The chairman of KPMG's British business, Simon Collins, said Xero's software was impressive, and small and early-stage businesses would form the backbone of future growth in Britain.

About 15 per cent of Xero's total sales in the six months to September were generated in Britain with revenues in the country rising 83 per cent to $4.4 million.

Xero shares were trading down 5 cents at $39.95 shortly after the announcement. 

Ad Feedback

- Fairfax Media

Special offers

Featured Promotions

Sponsored Content