Xro - xero

[Zaphod]

I'm using the product, and have done so for a couple of years now. Yes, it was a pain to configure but what accounting software isn't? At least I don't have to worry about installation, patching, backups, and general maintenance.

It has most definitely saved me money, with my accountant charging me 1/10 of what they had been charging for completing my GST return, prior to using this software. The hidden cost however, is the time it takes me to personally administer the accounts.

Wave is something I haven't had a chance to look at yet, but will do so over the coming weeks. My real concern about the product is whether this free model can generate the revenue streams required to invest back into product development. The other issue is whether they can resist using data analysis to target adverts to users. Got a spare $5K sitting in your account? Maybe it's time to serve up a advert for a new HP Server costing $4,999? Perhaps a "freemium" based service will ultimately how the product evolves.

[Anonymous]

Does anyone know what happens when you want to leave Xero? Will you still be able to access all your historical info?

[CJ]

Does anyone know what happens when you want to leave Xero? Will you still be able to access all your historical info?

A few things:

you can export reports etc to spreadsheet etc. THis can be very comprehensive, though would be time consuming if you wanted to get everything.
They have said they will investigate a reduced price (data storage plan) which I assume will tie up to the 7 year record retention rules. I think they currently retain the data but at some stage data storage costs will be such that it gets deleted.
I dont think they have a "export all data" button

[Anonymous]

Thanks CJ. I'm a very happy Xero customer using the full multi-currency plan, but I do have concerns about what happens when a better product comes along from someone else that I want to switch to or even worse if something unforeseen takes Xero out. A different kettle of fish I know but imagine if you'd had your life's most important documents stored on Megaupload. No one foresaw that going down...

An "export all data" button would be ideal!!!

[CJ]

Thanks CJ. I'm a very happy Xero customer using the full multi-currency plan, but I do have concerns about what happens when a better product comes along from someone else that I want to switch to or even worse if something unforeseen takes Xero out. A different kettle of fish I know but imagine if you'd had your life's most important documents stored on Megaupload. No one foresaw that going down...

An "export all data" button would be ideal!!!

In the past year, IRD came out with a statement reminding people that all financial records must be kept in NZ. Xero (who had been in discussions with IRD re this so were rightly pi$$ed off) had to scramble and assure customers that Xero was OK. My guess is that Xero has had to give IRD some pretty firm assurances that the data held at Rackspace (in the US) is very safe.

I am also a happy user of the medium plan but when I do the tax return for the year, I might see what reports can be exported and stored elsewhere (ironically on dropbox, though that does have a local copy on your hard disk as well).

[Toasty]

The upward march continues against all the negative news from the world and wider economy. $4.90 at last glance. I am a Xero supporter but this is crazy. Where is the impetus coming from. Have I missed an announcement? Is it excitement before the July AGM (seems a bit premature) Are there rumours of a large increase in the customer base?

Anyway, long may it continue.

[CJ]

Toasty - I think it is just index funds buying pushing up the price. I think they enter the NZX40 after today.

[Silverlight]

The upward march continues against all the negative news from the world and wider economy. $4.90 at last glance. I am a Xero supporter but this is crazy. Where is the impetus coming from. Have I missed an announcement? Is it excitement before the July AGM (seems a bit premature) Are there rumours of a large increase in the customer base?

Anyway, long may it continue.

Crazy is an accurate word, NZX does not see stocks like this often, reminds me slightly of Rakon in 2007 when its market cap peaked over $700m...

[Blendy]

yeah i must admit i decided to sell some today because this seems outrageous. If it keeps going up, that's great! But in the meantime some profit taking makes me happy

[Everwood]

yeah i must admit i decided to sell some today because this seems outrageous. If it keeps going up, that's great! But in the meantime some profit taking makes me happy

I also believe it is way over valued, but I still intend to hold the stock in my portfolio. I wish, I pick this stock in the Stock Picking Contest.

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