Xero Announces Hong Kong Expansion

Xero Announces Hong Kong Expansion

by March 22, 2018

Xero, a global online accounting software provider, announced the presence of a permanent Hong Kong team, bolstering its presence in Asia in addition to its Singapore office and continuing the company’s strong focus on growth.

Following two monumental partnerships with HSBC and DBS in 2017, Xero is one of the first companies to centralize financial data with Hong Kong banks through an API integration. The platform connects small businesses directly with their financial data through direct bank feeds, where small businesses get better real-time visibility of their financial situation, enabling them to make informed financial decisions and effectively manage cashflow.

Alex Campbell

Alex Campbell

 “Since the debut of Xero to Hong Kong, our platform has quickly become an integral part of driving jobs and growth for the local small business economy.

In 2017 alone, USD 7.9 billion (NZD 11 billion) worth of transactions were processed through Xero in Hong Kong. The exciting part, is this is just the tip of the iceberg,”

said Alex Campbell, Managing Director of Xero, Asia.

 “Today, Xero’s official launch of a permanent local presence in Hong Kong is a natural next step to meet the emerging needs of local small businesses and accounting professionals. Demand has been rapidly growing in the region since our original Asian expansion to Singapore in 2016.

Small businesses are looking for savvier technological solutions to cut down on operating costs, allow the flexibility to work from anytime and anywhere and to keep up with digital changes.”

 “Moreover, with Hong Kong home to about 330,000 SMEs, Xero sees an abundance of opportunity arising from increased government funded initiatives to nurture the small business economy and the promotion of the Belt and Road Initiative and the Greater Bay Area development.

With more than 1.2 million global subscribers and growing, the Xero Hong Kong team is at the perfect place at the right time, committed to play a part in pushing forward technological adoption in local traditional industries.”

Featured image: Xero Hong Kong Team