Which is why we’re excited to share the news that Xero has been named a worldwide leader in the IDC MarketScape: Worldwide SaaS and Cloud-Enabled Small Business Finance and Accounting Applications 2020 Vendor Assessment. Download the report here.

The in-depth and independent report by IDC, one of the world’s leading market intelligence firms, evaluates the strategies, product and service offerings, capabilities, and current and future market success factors from 10 companies. The IDC MarketScape includes an overview of the overall market for cloud financial management and accounting software, as well as advice for navigating the options among software packages specifically targeting small businesses and their advisors.

We’re incredibly proud to be recognised by the IDC MarketScape as a leader in the industry with connections to a thriving ecosystem of over 800 third-party apps to help small businesses around the world to thrive.

Balancing the needs of our community

It’s essential for small businesses to be able to adapt quickly, and that’s more important than ever when faced with a global pandemic. Being able to access their financial data whenever and wherever gives them the agility to cope and thrive in a world of uncertainty.

The report evaluated Xero’s strategy, product offerings and customer service as part of their assessment of the overall market for cloud financial management and accounting software. It noted that the most successful software packages within this section met the needs of professional accountants and small business owners by balancing structure, compliance, simplicity and accessibility.

It’s important to us that we always consider the balance between the needs of small businesses and the needs of their advisors while developing new features and functionality.

We’re committed to connecting people with the right numbers anytime, anywhere, on any device so they have access to the high quality data they need to make informed decisions for their business. We recognise the value these online connections offer to help build trusted relationships between accountants and bookkeepers and their small business clients.

Staying true to our purpose

During these uncertain times, we remain 100% focused on our purpose – to make life better for people in small business, their advisors and communities around the world.

We continue to listen to our community, review our products and services, and build features and functionality that balance the needs of our customers and partners. More than ever we need to stay connected and maintain confidence in small businesses and their advisors by continuing to provide a full spectrum of connected tools and services they can rely on and trust.

IDC MarketScape vendor analysis model is designed to provide an overview of the competitive fitness of ICT suppliers in a given market. The research methodology utilizes a rigorous scoring methodology based on both qualitative and quantitative criteria that results in a single graphical illustration of each vendor’s position within a given market. The Capabilities score measures vendor product, go-to-market and business execution in the short-term. The Strategy score measures alignment of vendor strategies with customer requirements in a 3-5-year timeframe. Vendor market share is represented by the size of the circles. Vendor year-over-year growth rate relative to the given market is indicated by a plus, neutral or minus next to the vendor name.

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