SOURCE: Xero

Xero

Xero

August 28, 2013 09:30 ET

Xero and Expensify Join Forces to Streamline Financial Management for Small Businesses

Integration of Expense Management and Cloud Accounting Transforms Expense Report Hassle Into Increased Financial Clarity

SAN FRANCISCO, CA--(Marketwired - Aug 28, 2013) - Xero, the global leader in online accounting software, and Expensify, the world's top small business (SMB) expense reporting application, today announced a partnership integrating Expensify's expense report data directly into Xero's accounting platform. The partnership solves traditional expense report hassles and gives small businesses, bookkeepers, accountants and finance departments a complete view of their finances with just one click.

This integration is a powerful addition to Expensify's extensive list of partnerships and adds to Xero's strong add-on partner ecosystem. The announcement comes as Xero experiences record growth, with U.S. revenues and customers doubling year-over-year.

"Typical expense reporting and tracking is not only a hassle but leads to delays and financial guesswork that can really hurt a small business," said Scott Scharf, owner of Catching Clouds, an accounting firm specializing in cloud-based accounting and a Xero Silver Partner. "Expensify makes expense management fast, accurate and simple, and now with the Xero integration, our clients get this data presented in the context of their complete finances. Our clients' books are balanced instantly and finances are up-to-date at all times -- there's never any question of where they stand. For our firm's small business owners, this is critical."

Through the partnership, data from Expensify feeds into Xero's cloud accounting software immediately, eliminating a time-consuming submission process and integrating critical financial information into a 360-degree view of business finances. With Expensify and Xero, small businesses can now organize and manage expenses and receipts using line-item transaction data from their credit cards and bank account statements. Combining Xero and Expensify creates a crystal clear picture of a business's finances, facilitating financially sound decision making.

"Xero's cloud-based approach to accounting has disrupted the traditional accounting industry, making them an ideal partner to improve our customers' financial workflows and giving businesses around the world a definitive view into their finances," said David Barrett, CEO of Expensify. "With this integration, business owners and financial managers no longer need to worry about the hassles of managing complex expense reporting through their accounting system. Our technologies now sync effortlessly, giving customers the ability to assess their full financial health anytime, anywhere -- period."

Beta customers are seeing immediate benefits from using Xero and Expensify in tandem and the companies are set to formally debut the new partnership at Xerocon, taking place on September 4 and repeating on September 5 in San Francisco. For complete details on the conference, visit here.

"Expensify has resolved the inconvenience of traditional expense reports with a simple, effective cloud service," said Jamie Sutherland, president, Xero U.S. "In a financial landscape filled with old school legacy players, Xero and Expensify are taking financial management, expense reporting and accounting to the next level: the cloud. For small businesses and their financial advisors, this means advanced, on-the-go and up-to-date financial analytics to help them move their business forward."

For those who cannot attend Xerocon in San Francisco, Xero and Expensify will co-host a webinar outlining the new integration on Tuesday, September 24 at 1:00 p.m. ET. To register, visit here.

About Expensify:
Expensify does "expense reports that don't suck!" If you're sick of the painful expense reporting process, Expensify is the fastest and easiest way to manage your business expenses. Users import expenses and receipts from their smartphones, 98% of US banks and credit cards, plus a large and growing number of international banks. Create your entire expense report online or from your phone and submit via email or through Expensify to get reimbursed fast, directly to your checking account. Expensify has 1.7 million users across 225,000 companies. Expensify is based in San Francisco, CA. Sign up at http://expensify.com.

About Xero
Xero is beautiful, easy to use online accounting software for small businesses and their advisors. The company has over 193,000 paying customers in more than 100 countries around the world. Recently Xero garnered a five-star review for Software As Service from CPA Practice Advisor. Xero's U.S. team is based in San Francisco. Xero is hosted with Rackspace in Chicago. See http://www.xero.com

Contact Information

  • President, Xero U.S.
    Jamie Sutherland
    (415) 806-1107
    Email Contact

    Xero Media Contact:
    Bill Bode
    (415) 963-4174 ext. 49
    Email Contact