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Gary Turner’s Exit from Xero & What It Means for Accountants and Vendors

Episode 67. In today’s news episode, podcast hosts Martin Bissett and Rob Brown discuss the legacy of Gary Turner after leaving Xero and what it might mean for other software and tech vendors.

Key takeaways from this episode include:

➤ What the rapid rate of growth for general ledger vendors Xero means for other software companies

➤ From £56K revenue in 2009 to £5.4m in 2014 to £43.1m in 2018 to £118m in 2021 so will the new CEO be expected to continue that growth?

➤ What might general ledger software do for clients that accountants are currently doing?

➤ The fears for accountants who do not innovate to keep up with the automation threat from technology

➤ What might accounting clients be buying from their professional advisors in 10-15 years?

➤ What Gary Turner’s major strength was in building Xero so successfully

➤ Why the market for general ledger software for accounting firms and businesses is only going in one direction

➤ How the ‘innovate or die’ message may not apply to some accountancy practices who still thrive on compliance work

➤ How technology should be giving accountants the stats and data they need to drive further value for their clients

NOTE TO LISTENERS:

Every Tuesday the show gives you a relevant news topic from the accounting and fintech world with a direct application to accountants, CPAs and bookkeepers. Great to stay informed and build your commercial acumen.

Martin and Rob love to hear from the show’s 7000+ listeners in 144 countries around the world. If you like the show, leave a review wherever you listen, and please recommend the show to your friends and colleagues.