Log in
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Dynamic quotes 

MarketScreener Homepage  >  Equities  >  Australian Stock Exchange  >  Xero Limited    XRO   NZXROE0001S2


News SummaryMost relevantAll newsPress ReleasesOfficial PublicationsSector news

Xero : 14/5/2020 - Xero and MNP collaborate to help Canadian businesses succeed

share with twitter share with LinkedIn share with facebook
05/13/2020 | 11:10pm EDT


Xero and MNP collaborate to help Canadian businesses succeed

Xero to drive cloud accounting adoption for MNP clients across Canada

Toronto -May14, 2020 - Xero ,the global cloud-based platform for small businesses, has signed an agreement with MNP LLP (MNP),one of Canada's largest national accounting, tax and business consulting firms. By joining forces with Xero, accountants across MNP's 80+ offices in Canada can now access a cloud accounting ledger and financial management tools and services-anytime, on any device-to serve their 150,000 small business customers more effectively. MNP has also experienced significant time-savings in the early days of using Xero, freeing up their team to take on more clients and focus on delivering additional value to clients.

MNP is using Xero's cloud-based accounting platform to provide their small and medium-sized business customers across Canada a consolidated, real-time view of their finances within the Xero general ledger. Paired with Xero's reporting capabilities and best-practice workflows, the MNP team can access a robust set of tools to guide effective financial planning and accounting for their clients. Additionally, having on-demand access to data in the Xero platform enables MNP teams across different offices to collaborate more efficiently and drive client success.

MNP is also using Xero to service its outsourced bookkeeping clients, helping them create an efficient workflow that minimizes data entry, which allows MNP's advisors to focus on providing strategic counsel that is unlocked by the real-time data now available to clients.

With Xero, MNP empowers their clients to manage their own bookkeeping so that they can maximize their time on growing their business; make data-driven decisions; manage their finances on-the-go anytime and anywhere. Xero provides the MNP team with an easy-to-use platform and robust reporting engine that provides clients with a high-level view of their business, without overwhelming them by the numbers.

Brad Dodds, owner of B.G. Dodds Building & Contracting and MNP client, has experienced significant time savings since adopting Xero. "As far as bookkeeping goes, Xero has greatly simplified my life. Prior to adopting Xero, I probably spent about 20 hours a month on bookkeeping, but now I manage my finances on my phone or laptop when I'm on the go and have reduced this number to four-to-five hours each month," said Mr. Dodds. "Xero gives me more time back to spend on my construction business and has allowed me to operate more efficiently in the office. Xero's add-on apps like WorkflowMax and Receipt Bank help me to spend more time on the revenue generating aspects of my business - whether it's estimating, managing work in progress, or more importantly, getting work done with my crew on site. It has also allowed me to work seamlessly with the MNP team - if they run into any questions or issues with my bookkeeping, they can log into Xero and investigate without having to engage me and wait for a response."

Paul Churchman, Director, Enterprise Partners at Xero said: "Xero and MNP are committed to making small business owners' lives in Canada better. By helping small businesses get access to their financial data in Xero, MNP small business customers can make better decisions, plan for the future and stay focused on doing what they love - running their business."

"Small and medium-sized businesses are the backbone of the Canadian economy," said Shayne Dueck, Partner and National Leader, Client Accounting and Bookkeeping Services at MNP. "At MNP, we're always asking how we can support business owners who are limited on time and resources and provide them with something that actually adds value back to their company. Xero quickly became a key enabler for us in helping clients with this goal. We're passionate about helping our clients succeed and we're confident that by partnering with companies like Xero, we're helping our clients look forward and tackle the challenges of tomorrow with confidence."

Xero helps MNP forge a trusted relationship with their clients, allowing them to spend more time advising businesses and helping them achieve their goals. On the Xero platform, business owners can access accounting and compliance tools, business services, more than 800 apps, and thousands of data points in one place to help them get the most from their business.

Following Xero's official launch in Canada,the Canadian market has been a key growth opportunity

for the company. The news of the partnership with MNP follows Xero's opening of a Toronto officeto support the growing team in the region.


Media Contact

Xero Americas

Lauren Kido


About Xero

Xeroprovides a beautiful and easy-to-usecloud-based accounting software service for small businesses and their advisors around the world. Xero connects more than two million subscribers with an ecosystem of over 800 third-party apps and 200 plus connections to banks and financial service providers. The IDC MarketScape recognised Xero as a Leader in the Worldwide SaaS and Cloud-Enabled Small Business Finance and Accounting Applications 2020 Vendor Assessment. On the 2020 Financial Times High-Growth Companies Asia Pacific list, Xero was the largest company by revenue to come from New Zealand or Australia. Xero has also been included in the 2020 Bloomberg Gender-Equality Index.


MNP is a leading national accounting, tax and business consulting firm in Canada. We proudly serve and respond to the needs of our clients in the public, private and not-for-profit sectors. Through partner-led engagements, we provide a collaborative, cost-effective approach to doing business and personalized strategies to help organizations succeed across the country and around the world. For more information, visit www .mnp.ca

Media Contact

Nick Greenfield Vice-President, Marketing





Xero Limited published this content on 14 May 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 14 May 2020 03:09:08 UTC

share with twitter share with LinkedIn share with facebook
Latest news on XERO LIMITED
07/29Australia shares rise as Fed signals more support; iron giants boost
07/29XERO : 29/07/2020 - Xero goes ‘On Air' launching its first online experien..
07/13XERO : 03/07/2020 - Sales and revenue improve in potential green shoots for Aust..
07/07XERO : 02/07/2020 - Xero reveals unique insights on impact of COVID-19 on UK sma..
06/30XERO : 1/07/20 - Data reveals NZ small business revenue and employment improved ..
06/10XERO : 11/06/2020 - Xero reveals unique insights on impact of COVID-19 on Austra..
05/13XERO : 14/5/2020 - Xero and MNP collaborate to help Canadian businesses succeed
05/13Xero Warns of Coronavirus Impact Despite Swing to Fiscal Year Profit -- Updat..
05/13Xero Warns of Coronavirus Impact Despite Swing to Fiscal Year Profit
05/11XERO LIMITED : annual earnings release
More news
Sales 2021 850 M 560 M 560 M
Net income 2021 38,6 M 25,4 M 25,4 M
Net cash 2021 125 M 82,4 M 82,4 M
P/E ratio 2021 339x
Yield 2021 -
Capitalization 12 979 M 9 288 M 8 554 M
EV / Sales 2021 15,1x
EV / Sales 2022 12,7x
Nbr of Employees 3 055
Free-Float 81,3%
Duration : Period :
Xero Limited Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends XERO LIMITED
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus HOLD
Number of Analysts 12
Average target price 82,30 NZD
Last Close Price 91,45 NZD
Spread / Highest target 23,0%
Spread / Average Target -10,0%
Spread / Lowest Target -45,9%
EPS Revisions
Steven Martin Vamos Chief Executive Officer
David Ingle Thodey Chairman
Kirsty Vanora Godfrey-Billy Chief Financial Officer
Mark Rees Chief Technology Officer
Andrew Craig Winkler Non-Executive Director
Sector and Competitors
1st jan.Capitalization (M$)
XERO LIMITED14.31%9 273
SAP SE14.05%192 604
SERVICENOW INC.52.74%82 707
INTUIT INC.18.13%80 690
DOCUSIGN, INC.176.29%37 575