Recently Software as a Service (SaaS – see here for a great explanation of the term) in New Zealand got some fantastic validation with Xero, the online accounting application, releasing some fantastic sales figures, along with news that they’d successfully raised another $23million in funding.
On a personal level we’re really happy with Xero’s success – they’ve been something of an inspiration to us, showing how successful software businesses can be built from New Zealand. What’s really interesting as well is that a large part of the recent funding round was made by one of the founders of a traditional accounting application. It really shows the potential, promise and customer gains that can be made by moving to a SaaS model – something that here at LearningSource we’re baking into our product as well – we tell more about SaaS as it relates to training management software over on this page.
As well as industry figureheads, Xero has been providing us with some really useful ideas in terms of how a training management solution should work. There are some exciting developments leading on from this collaboration that we’ll be announcing in the next few weeks – stay tuned.
In the meantime we send our heartiest congratulations to Rod and the team at Xero for a job well done!