Xero teams up with expenses company for better product
Top cloud accountancy software provider Xero has teamed up with Expensify, one of the fastest growing expense reporting software providers, to make expenses even easier for small business owners.
The partnership will see closer integration between the platforms. Initially the new features will only be available in the United States, but will spread worldwide in the coming months as both companies seek to ramp up global growth.
The partnership could also lead to Xero and Expensify being offered as one single accounts and expenses bundle for small businesses.
This isn’t the first time the companies have collaborated. The two programmes are already joined up, with users already able to approve expenses claims in Expensify and send them through to Xero with the click of a button.
New improved integration will include auto-matching Expensify transactions directly under Xero bank accounts, removing the need for manual reconciliation.
One of the biggest announcements though was that Expensify has added purchase tax support for any worldwide tax rate supported by Xero. This signals firm intent for Expensify to push-on globally.
The partnership was announced at an invite-only event held in Hawaii.
It comes as New Zealand-based Xero looks to expand its market share in the U.S. and as Expensify looks to grow globally.
Earlier this year, Expensify announced the launch of its first UK office at Xerocon in London.
Expensify’s founder and CEO David Barrett said: “Xero has been a fantastic partner to Expensify.”
He continued: “We’re excited to be recognized by Xero not only as a valuable add-on solution, but also as a global strategic partner. Our companies have already seen the benefits of working together when approaching top accounting firms, so cementing this strategic partnership will ensure that our mutual customers receive top-notch service coupled with best-in-breed automation.”
Xero CEO Rod Drury said that the partnership would allow the two companies to reach more customers, “Small and medium business is the next big category,” he said.
“The cloud allows this vast but fragmented market to finally be addressed. This market is seeing seamless collaboration from the next generation software companies like Expensify and Xero, working together to deliver integrated experiences that are rewiring the small business economy globally.”
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