CLOUD WAR: Xero launched its roadshow last week, MYOB is this week

MYOB CEO Tim Reed.

Cloud accounting company Xero launched a tour of Australia’s capital cities last week while its arch nemesis MYOB is hosting its roadshow this week.

While it could all just be a coincidence, it does appear the cloud accounting companies are battling for market-share on all fronts.

Xero’s roadshow took in 20 locations, including all Australia’s capital cities and a bunch of regional centres.

Xero Australia Managing Director Chris Ridd / Xero

Xero claimed it had more than 6,000 attendees registered for its tour. MYOB is hosting more than 30 events across Australia and New Zealand and claimed it had more than 9,000 people registered.

MYOB CEO Tim Reed told Business Insider ultimately competition is good for the consumer.

“I love competition. I think it’s a really healthy thing for businesses to know that there are competitors who are pushing each other to do better, to push harder. I think we’re a better company today because of the competitors we’ve had over the years and those that we have today,” he said. “I think it’s fabulous because ultimately the value is going back to small businesses and accountants.”

But he said the nature of the competition has changed.

“If we went back 8 years ago Reckon used to give 100% cash back at financial year end on their products,” he said.

“We used to compete more on price or on functionality, it’s really now on innovation and it’s the big innovative steps which is where we’re finding the difference.”

NOW READ: Why MYOB doesn’t think it’s one of those companies that could go bust from tech disruption

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