Peter Dinham for IT Wire writes: The numbers game continues unabated in the hotly contested cloud accounting software market, with the two major players – MYOB and Xero – in a battle for market supremacy and a share of voice, in the ANZ regional market.
MYOB CEO Tim Reed has once again questioned the reported customer numbers of fast growing rival Xero, saying claimed customer numbers released today by Xero, are not directly comparable to MYOB's customer base.
Xero (ASX:XRO) today reported that another customer milestone had been reached, with over 400,000 small businesses now operating on its cloud accounting software platform.
"They include practice ledgers used by accountants and not available to SMEs," Reed says, reiterating what he said in October when Xero last released customer numbers – “they are simply non-paying customers of accountants using Xero”.
Xero (ASX:XRO) today reported that another customer milestone had been reached, with over 400,000 small businesses now operating on its cloud accounting software platform.
"They include practice ledgers used by accountants and not available to SMEs," Reed says, reiterating what he said in October when Xero last released customer numbers – “they are simply non-paying customers of accountants using Xero”.
Reed also cites a Macquarie research paper published in July this year which he says estimated that 50-60% of Xero’s reported ledgers are business ledgers, comparable to the MYOB cloud solutions.
Regardless of Xero’s claimed customer acquisitions, Reed is bullish about MYOB’s performance and its market leadership position.
“Following our half yearly results where we announced a record performance for MYOB, we shared achievement of rapid growth to 100,000 cloud accounting subscribers within two years of launch of our flagship AccountRight cloud accounting solution, and we have been growing rapidly since we made that announcement in September,” Reed says today. [snip]. The article continues @ IT Wire,com, click here to continue reading....
Regardless of Xero’s claimed customer acquisitions, Reed is bullish about MYOB’s performance and its market leadership position.
“Following our half yearly results where we announced a record performance for MYOB, we shared achievement of rapid growth to 100,000 cloud accounting subscribers within two years of launch of our flagship AccountRight cloud accounting solution, and we have been growing rapidly since we made that announcement in September,” Reed says today. [snip]. The article continues @ IT Wire,com, click here to continue reading....
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