PwC has announced a partnership with Xero that will allow its firms around the world to provide client with access to the accounting platform, building on established relationships in the UK, Canada, Australia and New Zealand.
Small business markets in Asia, Europe and the United States are set to benefit, with the collaboration aiming to boost cloud adoption.
“Internationally, less than 20 per cent of small businesses use cloud accounting technologies. Australia and New Zealand are much further advanced in this area; there is a huge opportunity to bring the benefits of real-time tools to businesses and advisers around the world,” said Xero chief product officer Anna Curzon.
“This alliance means Xero and PwC can work together to help small businesses increase productivity and provide them valuable time back in their day.”
PwC’s digital innovation leader for global entrepreneurial and private business, Scott McLiver, said the partnership would allow the big four firm to access Xero data to develop and build products for its small business clients.
“Business owners are increasingly embracing the cloud for their key business systems for the simple reason that the benefits of doing this are simply enormous,” Mr McLiver said.
“The access to business data that Xero provides allows PwC to build products that solve key business problems.
“By leveraging powerful cloud accounting technology to build digital products with PwC’s knowledge and technical capability, we can help small business owners to be successful in ways that previously wasn’t possible.”
Larger accounting firms, including the big four, have been increasingly partnering with external software providers to implement new technology and drive down costs.
More recently, Grant Thornton has partnered with Thomson Reuters by implementing its ONESOURCE suite within its tax practice.
Jotham Lian is the news editor of Accountants Daily, the leading source of breaking news, analysis and insight for Australian accounting professionals.
Before joining the team in 2017, Jotham wrote for a range of national mastheads including the Sydney Morning Herald, and Channel NewsAsia.