Global competitive research to enrich product strategy and design
Client
Xero
Timeframe
November 2021 - February 2022
Role
Lead Researcher
Engagement
Interviews with 50 accountants in 6 global markets
“Advice is a human process. Numbers only paint one picture. It's the accountant's role to explain what numbers mean in context. The software could help suggest advice, but it will never replace that advisory role. It shouldn't.”
— Research participant
Objective
To understand the effectiveness of Xero and competitor software in enabling accountants and bookkeepers across the globe to accomplish their work.
Methodology
We interviewed 50 accountants from six countries: Canada, the USA, the UK, South Africa, Australia, and New Zealand. These professionals worked in firms with 5 to 25 staff and managed between 100 to 1,000 clients. They used one of eight software packages: Xero, QuickBooks, iFirm, Iris, Sage, Caseware, MYOB, or HandiSoft.
Phase 1: After aligning with Xero on objectives, we recruited participants fitting our criteria across the specified markets.
Phase 2: We designed interviews to uncover insights into workflows and the effectiveness of the accounting software in use. To facilitate discussion, we developed custom research tools to prompt accounts to recognise and share the challenges and benefits of their chosen platforms.
Phase 3: To guide Xero's strategic decisions, we compiled the research data into detailed comparison charts and reports, segmented by market and software platform.
Outcome
Our research offered a detailed view of accountants' workflows and how software supports their preferred practices. We provided detailed software and feature comparisons to equip Xero with the knowledge to enhance their software in ways that benefit accountants globally.
Our findings suggested multiple avenues for Xero to explore in the short and long term, including design innovations, potential features to develop, and ongoing research into accountants' work habits and technology use.
The insights we provided are set to inform critical business decisions, helping Xero stay attuned to emerging trends, new opportunities, and the evolving landscape of the accounting profession.