You Can Count on Xero For the Best Accounting Software

Small businesses with fewer than 20 employees are the lifeblood of the NZ economy. According to government statistics, they account for:

• 97% of all businesses
• 29% of all employees
• 26% of NZ’s gross domestic product

And at the heart of each of these small enterprises is an accounts dept or, more often than not, given their small size, accounts person! They’re responsible for keeping the lifeblood of the business, the cashflow, pumping in and out of its bank accounts. They ensure creditors and staff get paid, and that customers receive the correct invoices.

Due to modern technology, for small businesses, much of the burden of account keeping has been reduced. Thanks to cloud-based accounting software and mobile apps, it’s never been easier to run your business on the go.

Here in NZ, there are two main accounting software providers. Both offer a range of services, for around the same costs and available across the same tech platforms (think mobile and computer). But which to choose?

As part of our mission to inform consumers of the best NZ has to offer, Canstar Blue canvassed the opinions of 371 New Zealanders who have accounting software licences, across a range of categories, to measure and track their satisfaction.

To decide which accounting software provider offers the best level of customer satisfaction, each was rated across the following categories:

• Customer Service
• Ease of Integration
• Ease of Use
• Functionality
• Reporting
• Value for Money

Coming out on top for the second year in a row is Xero. In a stunning performance, it replicated its stellar result in last year’s ratings, with a clean sweep of 5 Star ratings in each of the above categories. Not too far behind, MYOB earned consistent 5 Star ratings across the board.

What Customers Want

When asked what drives their satisfaction with their accounting software, the respondents in our survey voted with their wallets! For nearly a quarter (24%), price and value for money is the great definer. However, as with all tech, Ease of Use is close behind (23%). This is not surprising, as nobody likes to be baffled by the technology upon which they rely. That Reporting (15%) and Functionality (13%) were considered less important is probably more an indication that our two accounting software providers have those bases covered, so they are less of a concern for their customers. Overall, the main drivers of satisfaction:

How Kiwis count on their accounting software

For those in our survey, the majority said they use their accounting software primarily for overall cash management (72%). Nearly half (44%) rely upon it most for doing their payroll, while 35% say that they use it most frequently for billing and tracking billable hours accurately (that’s probably all the lawyers in our survey!).

But regardless of how people choose to use them, subscriptions to accounting software providers are now essential to the smooth running of thousands of NZ businesses. And thanks to Canstar’s latest Accounting Software Customer Satisfaction award, you can be assured that if your choice is Xero, it’s a provider that you can account on!