Xero is a New Zealand domiciled public technology company, listed on the ASX, that offers a cloud-based accounting software platform for small and medium-sized businesses. The company has three offices in New Zealand (Wellington, Auckland and Napier), six offices in Australia (Melbourne, Sydney, Canberra, Adelaide, Brisbane and Perth), two offices in the United Kingdom (London and Milton Keynes), three offices in the United States (Denver, San Francisco and New York), as well as offices in Canada, Singapore, Hong Kong and South Africa.

Xero's products are based on the software as a service (SaaS) model and sold by subscription, based on the type and number of company entities managed by the subscriber. Its products are used in over 180 different countries.

Xero recently released a report Paying the Price: the economic impact of Australian big businesses paying small businesses late. According to the report, $115 billion in payments from large businesses to SMBs is paid late each year, tying up cash-flow and growth opportunities for SMBs. Key reporting findings:

• Over half of all invoices to SMBs are paid late.
• By paying SMBs on time, the report found that a stimulus of $7 billion would be provided to small businesses.
• The report also found a link between long payment times and slower growth for small business.
• SMBs that are paid more slowly than average have about a third lower revenue growth than those paid faster.
• It’s imperative for this debt to be unlocked for SMBs to have stability, cash-flow and a stimulus to drive economic growth.

The research is based on information from more than 10 million invoices issued by more than 150,000 SMBs. Trent Innes can discuss the report, how the $115b cash-flow crunch is impacting SMBs, and how on-time payments could drive an economic surplus for Australia.