Xero Practice Manager
By Xero
Xero Practice Manager is designed to streamline the management of accounting and bookkeeping practices. It offers tools to manage client jobs and workflow efficiently from start to finish, including task assignment, time tracking, invoicing, and reporting. The software integrates seamlessly with Xero’s core accounting platform, enabling synchronization of invoices, payments, and client data to provide a unified practice management experience.
Xero, the parent company of Xero Practice Manager, was founded in 2006 in Wellington, New Zealand by Rod Drury and Hamish Edwards. Their vision was to create cloud-based accounting software that was user-friendly and accessible to small businesses and accounting professionals worldwide. Since its launch in 2007, Xero has grown rapidly, expanding globally to serve millions of customers in over 180 countries. The company has continuously innovated by adding new features and integrations, establishing itself as a leading provider of online accounting software.
Xero is a publicly listed company on the New Zealand Stock Exchange since 2007. As of mid-2024, Xero has a market capitalization of approximately AUD 15.2 billion and an enterprise value around AUD 14.7 billion. The company employs between 5,000 and 10,000 people globally. Xero has raised significant funding over the years, including a notable post-IPO debt round of $925 million, supporting its growth and product development initiatives3.
Job and Task Management: Assign work to staff with deadlines, track progress, and view schedules.
Time Tracking and Invoicing: Record hours worked by duration or start/stop times, convert time into invoices with customizable rates and markups.
Integration with Xero Accounting: Synchronize client data, invoices, and payments between XPM and Xero’s accounting platform.
Custom Reporting: Generate standard or customized reports to monitor productivity, billable time, and financial metrics.
Xero as a company has expanded its product ecosystem through strategic partnerships and integrations. For example, Xero Practice Manager integrates with third-party tools like Ignition, which automates workflows, syncs client information, and enhances job and billing management, demonstrating Xero’s approach to product expansion through ecosystem partnerships.
Xero Practice Manager continually evolves with updates that enhance practice management capabilities. Recent improvements focus on centralizing tasks, improving visibility into practice operations, and deepening integration with Xero’s accounting platform to ensure seamless data flow and reduce administrative overhead. Features such as automated timesheet collection, progress tracking, and enhanced reporting have been emphasized to help practices run more efficiently.
Xero’s culture is rooted in innovation, customer-centricity, and empowerment of small businesses and accounting professionals. The company values simplicity, accessibility, and continuous improvement, striving to make accounting software intuitive and supportive of its users’ needs. Xero fosters a collaborative environment, both internally among employees and externally with its user community, partners, and developers. Its commitment to sustainability and ethical business practices also forms part of its corporate values.
Xero serves over 2 million subscribers globally, including small businesses, accountants, and bookkeepers across more than 180 countries. Its user community is active and engaged, supported by a range of resources such as webinars, events, and online forums. The integration of Xero Practice Manager within this ecosystem allows accounting firms to manage their workflows more effectively while staying connected to their financial data. The company’s emphasis on customer support and community engagement has helped it maintain high satisfaction and loyalty among users.
