Xero pushes into Australia with new version

Xero has launched an Australian version of its SaaS accounting software to take on MYOB across the ditch.

Australia is the third market Xero has entered in the past 18 months. It launched a UK version in March.

“Two of Australia’s largest business banks will be providing direct daily bank feeds into Xero soon after launch,” Xero CEO Rod Drury says. Currently, Xero has daily bank feeds from all six of New Zealand’s major trading banks.

Drury says compared to MYOB’s desktop model — where each user installs and manages their own version of the software — Xero is a multiuser, web-based service, which is updated every few weeks.

However, according to the diversity.net.nz website, MYOB is brewing a SaaS response to Xero, called BusinessBasicsOnline.

MYOB reported in August it was facing tough market conditions in New Zealand.