Another exciting accounting software system, at last!

I have recently been exploring Xero the web-based accounting system just launched into the UK market.  I have to say that, for the first time in ages, I am genuinely excited about a new accounting solution - the way I was when I first saw QuickBooks over 10 years ago.

I do not intend summarising all of the features of Xero here, there is more than enough information available on their web site, which also allows you to watch some slick video demos.  What struck me though was the thought and then development care that must have been invested in this system.  By way of illustration, I offer you this: Download Xero Management Report (106.5K), which was produced automatically by Xero, after just a couple of mouse clicks.  Show me a small business owner who would not be bowled over to receive one of these every month.

Mark Hallett, business development director of Xero, called me up for a chat today - after noticing my persistent loitering around their demo site.  It was a very interesting and open discussion, with Mark's enthusiasm for his company's offering coming through strongly.  The company is totally committed to the UK market and being originally established in New Zealand has less localisation (and translation) to do than some of his European competitors.  There is still masses of development going on (a new release being issued this weekend), so the product should only get better over time.  The system is easy on the eye and, at just under £30 per business per month with unlimited users, easy on the wallet too.

We currently use another system for online accounting, Twinfield which hails from Holland.  Localisation work on their UK software is currently moving at a glacial pace (cash accounting for VAT is still not properly supported), leaving my practice with some hard thinking to do.  Xero is going to shake up the market more than anything introduced in the last 10 years!

Comments

[Adrian Pearson]

Hi Peter, many thanks for your contribution.

Please answer two key questions for me. Does Saasu handle cash accounting or flat-rate for UK VAT? Does the payroll follow UK tax rules? It's the localisation issue that is the main concern for new UK-based customers.

[David Terrar]

Hi Adrian,
I don't frame it in the same words as you, but I do think Xero, e-conomic and Mamut/IAAITC coming in to the UK market heralds a shift. Competition is always good, and I think that their arrival here is another pointer to online accounting becoming a more mainstream topic in the UK this year. I met Hamish Edwards, Xero's co-founder and UK MD last December, and we talked about the idea of working together to promote the Software as a Service accounting topic, rather than against each other - I think that would be a good thing, and I know we'll do that. Twinfield are very committed to the UK market, and we both want them to move faster. Andre Kwakernaat, the founder and CEO, will be coming over to the UK again just after Easter - I suggest we set up a meeting so you can get your views across face to face.

[Peter J Cooper]

Hi,

You might find it worthwhile exploring Saasu too. We differ in areas like inventory, inventory assembly, employee mgt, entitlements, payroll, CRM integration with salesforce, connector API, and a lot more. Next release is due soon too and extends into team based work mgt and some web 2.0 integration.

Cheers, Peter.