Article provided by Xero
Xero launches in-app functionality to help customers find, trial and buy apps to help them run their business more efficiently
Xero, the global small business platform, recently unveiled the Xero App Store, a simpler way for small businesses, accountants and bookkeepers to discover and purchase apps to help run their business.
Xero app partners in Australia, United Kingdom and New Zealand now have access toa suite of new subscription and billing APIs (Xero App Store Subscriptions) that will enable them to offer Xero customers the ability to trial, purchase and manage their app from the Xero App Store.
The Xero App Store is available at apps.xero.com. It makes it easier for Xero customers to access and benefit from the power of Xero-connected apps, and the reimagined system will also help app partners grow on Xero’s platform.
Steve Vamos, Xero Chief Executive said, “Our vision for the Xero App Store is that it will be the first place that small businesses go to discover and buy apps that help them to understand their finances, control their cashflow and grow their businesses. We’re also really excited about what the increased visibility will mean for all the app partners that create beautiful, powerful software that integrates with Xero.
“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.”
Xero’s recent research report The Job Ahead: Small businesses and the global economic recovery, showed firms in Australia, New Zealand and the UK that used five or more business apps performed better than those with no apps. They grew their sales by 4.3% in the year to December 2020, while those without apps saw a decline of 3.4%. These small businesses also returned to near net job growth across 2020, with a year-on-year decline of 1.8%, compared to firms who had no apps connected, which experienced job losses of 5.1% year on year.
The Xero App Store will bring new benefits to small businesses, advisors and Xero app partners, with greater focus on marketing and growth initiatives designed to connect app partners with small business customers. The Xero App Store will enable customers to:
- Find the right Xero connected app, when they need it: With improved search capabilities and personalised recommendations powered by machine learning, the new Xero App Store makes it easier for businesses to find the right apps for their needs, based on their industry and unique profile. The recommendations engine will also provide app partners with more qualified leads.
- Choose the right app through improved access to app reviews and greater insights: More detailed app reviews are now front-and-centre to help small businesses choose the right apps, and sophisticated analytics have been introduced to support app developers.Developers now have access to analytics and insights through the new app Partner Dashboard so they can track customer conversion and get real-time customer feedback about their apps.
- Buy the right app with access to a new Xero App Store Subscriptions offering: From today, app partners in the UK, Australia and New Zealand have access to new subscription and billing capabilities (Xero App Store Subscriptions) which will allow Xero customers to pay and manage their apps in one place. This will be available in the US and Canada in the next 12 months, followed by Asia and South Africa. Xero’s investment in this technology takes away some of the development pain points experienced by our early-stage developers, while improving the experience for Xero customers through consolidated billing and managing upgrades or downgrades from one place.
The Xero App Store also introduces clearer and more consistent terms for app partners and a referral revenue share of 15% (excluding fees) on subscriptions for new customers who sign up through the Xero App Store. App partners can continue to sell their apps to Xero customers via other channels, with the referral revenue share only applying to sales generated via the Xero App Store.
The new terms will apply to apps available within the Xero App Store on a phased basis. Any new app joining the Xero App Store will join on the new terms from today, while existing apps will have until 4 August 2022.
Xero’s Executive General Manager of Ecosystem, Nick Houldsworth, said “Xero recognised early on the benefits of being an open platform, which is why it opened its APIs to developers in 2009 to encourage innovation and extend its platform capability.
“We’ve been building towards the Xero App Store launch over the past 18 months and are excited to see the impact of this enhanced experience for our customers and partners. The Xero App Store now provides strong foundations for encouraging greater digital transformation, while democratising access to technology for small businesses. As Xero scales globally, this is reflected in the calibre of services offered by our partners in the Xero App Store,” Houldsworth said.