Xero : Australian small businesses rank Xero Number One for accounting software

Canstar Blue releases Accounting Software - Most Satisfied Customers Award

Melbourne, 24 August, 2016 ­ Xero (@Xero) is the highest­rated cloud accounting software for small businesses for the second year in a row, new research by Canstar Blue has found.

The survey of 800 Australian small business owners and decision­makers by consumer research company Canstar Blue saw Xero score five star ratings across all seven criteria

- including ease of use, integration, customer service, and value for money.

Xero beat Intuit QuickBooks and MYOB to rate number one for the second year running.

Canstar Blue star ratings - Accounting Software ­ Most satisfied customers award

More than three quarters of business owners and decision­makers surveyed (78%) told Canstar Blue that accounting software is critical to their operation, while 39% admitted to making financial mistakes before going online. In addition, 42% of users believe accounting software has contributed to the growth of their business.

The research also found that what makes modern accounting software particularly helpful for Australian small businesses is the ability to log in any time, using any device, to check vital information.

Despite the important role that accounting software plays in managing a company's finances, small business owners and decision­makers are still determined to get the

maximum bang for their buck. This year, just like last, Xero has been deemed to offer the best value and overall package.

"Users want great functionality and tools to help them manage their finances, with quality customer support on hand if they need it. But they also want to feel they are getting value for money. Congratulations to Xero for continuing to meet the demands and expectations of Australia's small businesses."

"That's why we consider it our greatest achievement to know that small business owners and key decision makers have named Xero the most­loved accounting software for a second

year in a row, beating MYOB and Intuit Quickbooks, through independent research."

Marina Holmes

Communications and Stakeholder Relations Director

+61 416 663 396

marina.holmes@xero.com

Simon Downes Media Specialist

+617 3837 4171

simon.downes@canstar.com.au

Xero is beautiful, easy to use online accounting software for small businesses and their advisors. The cloud accounting company has 700,000 paying customers in more than 180 countries. Xero seamlessly integrates with more than 500 thirdparty tools, and was ranked No.1 by Forbes as the World's Most Innovative Growth Company in 2014 and 2015

Canstar Blue was launched in July of 2010 by CANSTAR ­ Australia and New Zealand's premier researcher of retail finance information for more than 350 institutions across the finance sector. Canstar Blue measures and tracks Australian and New Zealand consumer satisfaction across over 100 different categories to help consumers make the best purchasing decisions for their needs.

Canstar Blue researches, compares and rates products and services according to customer satisfaction across categories including banking, telecommunications, appliances, electronics, utilities and FMCG. Results are freely available to consumers who are encouraged to use the ratings as a guide to product excellence. The full range of results can be seen on the Canstar Blue website at www.canstarblue.com.au.