Xero is hoping to boost its appeal to small businesses, accountants and bookkeepers with the launch of its new Xero App Store.
The platform says the launch aims to bridge the gap between small business owners and developers who are producing apps for the SMB, accountancy and bookkeeping sectors.
Available from August 4, the Xero App Store will be available at apps.xero.com and will allow users in the small business community to access a wider array of Xero’s connected apps.
- We've also featured the best UK tax software
- Take a look at the best bookkeeping software around today
- Check out the best free accounting software
The new development will grant Xero app partners in Australia, New Zealand and the UK instant access the full suite of new subscription and billing APIs under the umbrella of Xero App Store Subscriptions. Developers and third-party app creators will be able to offer trial versions of their software, alongside offering customers the opportunity to make purchases and manage their apps all from within one workspace.
Xero App Store
Business owners who want to exploit the power of Xero connected apps will be able to use the Xero App Store to quickly and easily search for software, as well as enjoy personalised recommendations driven by machine learning. Search results will be tailored to suit a user's chosen industry or sector. The service will be complimented by a growing collection of reviews, while powerful analytics will offer support to app developers.
Xero plans to make terms and conditions for the App Store simple and straightforward for partners and offer a referral revenue share of 15%, excluding fees, on subscriptions for new customers. Crucially, app partners will still be able to sell their apps to Xero customers via other channels. The referral revenue share will only apply to sales generated via the Xero App Store.
Xero states that new terms will apply to apps available within the Xero App Store on a phased basis. Any new app being added to the store will join on the new terms from today. Existing apps will have until 4 August 2022.
Xero’s App Store has been developed in response to growing demand for small business apps in the wake of the global pandemic. According to research carried out by Xero, firms in Australia, New Zealand and the UK that employed the services of five or more apps were found to be better performing than businesses that didn't. While the former were able to grow their sales by 4.3% in the year to December 2020, those with little in the way of apps on-board suffered a decline of 3.4% for the same period.
A lack of connected apps is also seen as a stumbling block for job creation, with businesses that had no apps connected suffering job losses of 5.1% year on year. This is considerably more than businesses that have made use of connected apps, with a 1.8% year on year decline reported across 2020.
“Our vision for the Xero App Store is to be the place where small businesses go to discover and buy apps that complement Xero, and the place to help developers grow their business," said Steve Vamos, Xero Chief Executive.
“Today’s milestone is exciting because better connecting Xero’s platform to external apps — whether it’s to manage inventory, receipts or their customer relationships — is a powerful enabler for small businesses looking to grow, manage their workflows or digitally transform their business. With these improvements, we can better connect small businesses and developers to each other, in smarter and more seamless ways.”
- Also, check out our roundup of the best budgeting software
