Xero (NZE:XRO) just unveiled four new products this week, increasing its focus on creating a more well-rounded selection of tools for small businesses.
New Xero Products
The new Xero products, which the company announced at its recent Xercon event in Melbourne include:
- Lifeline Learning Platform, a cloud-based platform that allows educators to build curriculum and exams for educational or workplace training purposes
- The Xero HQ open practice platform, a multi-vendor platform that lets accountants and bookkeepers run their entire back office
- Xero Expenses, a mobile expense management platform with open APIs
- Xero Projects, a platform for managing time, costs and profitability of professional service jobs.
This is the largest ever product release for Xero. But these new products don’t mean the original Xero accounting solution is going anywhere. The new offerings are just a way for the company to expand the types of solutions it offers for small businesses.
“We said our strategy was to move from just being the back-office accounting tool to providing front office tools. We’ve made all of our money selling one thing to 1 million small businesses, so now we’re selling to the employees of small business,” Xero CEO Rod Drury told ZDNet.
For small businesses, the slew of new products means that there are even more options out there for small businesses to choose from. And it’s not all just about cloud-based accounting anymore. So for the customers already using Xero for their accounting needs, adding on one of the new products should be a fairly simple way to improve operations.
This move also signifies a larger shift in the way Xero looks at its offerings. Instead of focusing on just one offering, the company is clearly trying to offer a more complete group of solutions. So even more releases in the future could certainly be possible too.
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