Winner of Excellence in Leadership, supported by KPMG
Xero is a global company that develops and provides cloud-based accounting and business services to small and medium-sized businesses and their advisors.
The NZX and ASX listed company was founded in Wellington 10 years ago by New Zealand entrepreneur and successful businessman Rod Drury, and is one of the fastest growing Software as a Service (SaaS) companies globally.
“Xero has proven you can build a truly global business from New Zealand,” says Drury.
“Xero has become one of the fastest growing cloud accounting companies in the world while maintaining a firm focus on executing a global strategy of high margins and diversified global revenue.”
Drury says it’s this scale that has enabled Xero to become a unique globally authoritative small business data source, recording more than a $1 trillion across 450 million ingoing and outgoing transactions over a 12-month period.
Xero turned over $257 million in annualised committed monthly revenue last financial year, and employs more than 1,400 people in 20 offices around the world.
With more than 717,000 subscribers globally, Xero is the market leader in small business cloud accounting in New Zealand, Australia and United Kingdom.
“With continued sales momentum and rapid product innovation, Xero is well placed to outpace its competitors and achieve its goal of reaching $1 billion operating revenue as an ambitious and competitive technology company founded out of New Zealand,” Drury says.
The company achieved global recognition when Forbes identified Xero as the World’s Most Innovative Growth Company for two years running, in 2014 and 2015.
At time of writing, Xero was valued on the New Zealand Stock Exchange at $2.65 billion.
This year marks the 50th anniversary of the awards, run by New Zealand Trade and Enterprise (NZTE) with strategic partner ANZ, which celebrate the success of New Zealand businesses on the world stage.