Xero on the Money

A NZ online accounting software company has won the inaugural International Technium Challenge, a business planning competition sponsored by International Business Wales. Wellington-based Xero beat 19 entries from five other countries, winning the opportunity to open an office in one of Wales’ Technium business innovation centres along with a business support package worth NZ $120,000. “The Technium Challenge programme will … give Xero a fantastic platform from which to enter the European market,” said company co-founder Rod Drury. Xero is an online accounting system designed for small to medium-sized businesses launched in 2003. Its features include daily bank account updates, a ‘dashboard’ providing a snapshot of your business at a glance and real-time advice from financial advisors.