The cloud-based software provider announced that 200,000 paying customers are now on Xero's platform in Australia alone.
Chris Ridd, Xero Australia's managing director, said the prolific growth reflects changing customer demands for accounting software.
“The speed at which Australian small businesses have adopted Xero shows they want accounting software that is beautiful, easy to use, and can be operated from anywhere, on any device,” he said.
“Xero is innovating rapidly in the accounting software space, releasing more than 400 customer-facing updates in 2014 and 150 so far this year”.
“We’ve heard so many great stories of how Xero has helped small businesses and accounting practices across the country grow and thrive. All of our customers are truly on the cloud; they can access their Xero accounting information online without needing to install software or relying on local back-ups that can get lost or become corrupted.”
Xero has grown to 200,000 customers in Australia as of 31 March 2015, up from 158,000 customers at 30 September 2014 and from 109,000 customers at 31 March 2014.
Despite this rapid growth, Mr Ridd said he does not expect the take-up of Xero to slow anytime soon.
“We believe we are now truly in the early majority phase of adoption,” he said.
“We expect to see significantly more small businesses upgrade from traditional accounting products in the coming months and years.”
Xero will release its preliminary (unaudited) financial results on 24 April 2015 for the year ending 31 March 2015.