Mergers and Acquisitions
Xero Acquires WorkflowMax, Accelerating Move to Online Accounting
May. 23, 2012
Xero, online accounting software, announced today that it has acquired WorkflowMax, a full practice management suite. The acquisition will allow Xero customers to manage all aspects of their business, including jobs, leads, invoicing and time tracking.
“Cloud solutions are fundamentally changing the way accounting professionals work today – enabling unparalleled collaboration with clients and opening up new business opportunities.” said U.S. President of Xero.com, Jamie Sutherland. “Xero’s addition of WorkflowMax expands the scope of online accounting services to include practice management, making it faster and easier for accountants to run their businesses in the cloud.”
The acquisition of WorkflowMax will give tax and accounting professionals control over the entire practice management process. Xero’s software allows professionals to collaborate with their clients and each other while managing daily business tasks. WorkflowMax lets users find and filter leads for job procurement, track time and generate reports and final invoices. The practice management solution also tracks costs to budget, revenue to budget and imports invoices directly into Xero.
“With the addition of WorkFlowMax to Xero’s offering, I now use one online solution to service my clients and manage my entire practice. This has freed up a significant amount of time, improved my efficiency and allowed me to take on more clients, doubling my business,” said Nick Bird, CPA, Xero Advisor and Owner of Lucid Books.
Xero accounting partners who add 20 new Xero Business Edition clients by June 30, 2012 will receive WorkflowMax for free.