Saturday 13 November 2021 | No. 18
XU Biweekly
Accounting software with a purpose.
The independent news source for Xero users, by Xero users
Xero appoints Alex von Schirmeister as MD of Xero UK and EMEA
G
ARY TURNER TO RETIRE FROM ROLE AT THE END OF THE YEAR AFTER TWELVE YEARS
Xero, the global small business platform, today announced the appointment of experienced technology executive Alex von Schirmeister as Managing Director for the UK & EMEA. Von Schirmeister brings more than 25 years of senior leadership experience to the role, having worked in ecommerce, payments, telecommunications, FMCG and consultancy. He will start at Xero on 1 December 2021.
XERO HAS AQUIRED LOCATE INVENTORY
I
By Anna Curzon
F YOU RUN A SMALL, GOODS-BASED BUSINESS, YOU’LL KNOW THAT MANAGING INVENTORY WELL IS CRITICAL TO YOUR SUCCESS. But as the number and complexity of ecommerce channels continue to increase, and customer preferences continue to evolve, it can be overwhelming to manage inventory across multiple online and bricks and mortar stores. You may manage your inventory using Excel, but this can be manual, time consuming and prone to errors. And while there are a number of inventory solutions on the market, many aren’t suitable for small, goodsbased businesses. This can make it hard to understand the true cost and demand of
Prior to Xero, von Schirmeister led the European operations for small business payments technology company SumUp, and before that held senior leadership positions at Electrocomponents plc and eBay, where he gained exposure to a large constituency of merchant sellers. Gary Turner, who in July announced his retirement after 12 years in the role, will step down on 31 December 2021 to ensure a smooth handover of responsibilities. Turner will continue to play a part in Xero’s growth, in a global advisory capacity, as well as...
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3 MILLION SUBSCRIBERS! By Steve Vamos
your products, potentially impacting your revenue and cash flow. That’s why we’re acquiring LOCATE Inventory (LOCATE), a cloud-based inventory management provider based in the US. The LOCATE team will be joining Xero to help us enhance our existing inventory solution in Xero, so you can better manage your inventory and improve your financial performance. It’s still early days, but our vision is to provide an inventory management solution that will help you: • save time on manual and repetitive data entry, so you have more time to focus on tasks that help your business thrive
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T
ODAY WE ANNOUNCED XERO’S HALF YEAR FINANCIAL AND OPERATING RESULTS TO 30 SEPTEMBER 2021 (H1 FY22). Our performance demonstrates the benefits of investments made in the areas of product development, go-to-market capabilities and people over a number of years, to support the execution of Xero’s global strategy. In the video below, I
share some highlights from our H1 FY22 results, joined by our CFO, Kirsty Godfrey-Billy.
Financial results While conditions varied across our markets, our strong performance is evident in a number of metrics which trended positively over the period, including subscriber numbers, average revenue per user (ARPU), gross margin and churn. Performance highlights H1 FY22 (all figures are in
NZD and comparisons are made against H1 FY21): • Operating revenue was up 23% to $505.7 million (26% in constant currency (CC)) • Annualised monthly recurring revenue (AMRR) grew 29% to $1,132 million • Total subscribers increased by 23% to 3.0 million • Total subscriber lifetime value (LTV) grew by 61% to $9.9 billion
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Accounting software with a purpose. Saturday 13 November 2021