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The deal “harnesses” the cloud accounting software's offerings with the firm’s sprawling network of advisers in over 100 countries.
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Xero lands preferred supplier agreement with Mazars
19 February 2024
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Xero has struck a three-year agreement with Mazars to make it the preferred cloud software supplier for the accounting network with a presence in over 100 countries.
The agreement would make Mazars a “Global Partner” of the software giant, a title reserved only for the largest accounting firms, networks and associations, Xero said in a statement on Friday.
Xero chief revenue officer Ashley Grech said she was excited to take the company’s relationship with Mazars to “the next level”.
“This new global relationship allows us to bring greater value from Xero to Mazars member firms and their clients,” she said.
“Mazars member firms around the world are already experiencing the benefits of using Xero to drive efficiencies, and we look forward to working alongside Mazars to continue delivering an exceptional experience for their customers as they expand into new and developing markets.”
Ms Grech said having Xero as Mazars’ consistent cloud accounting platform would allow its advisers to have access to real-time financial data, “align their strategy and processes, and support day-to-day financial decisions with their clients while providing even deeper insights at scale”.
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Users would also be able to access resources and education to develop further expertise in cloud accounting, she said.
Jason Pourakis, Mazars partner and accounting and advisory services lead, said clients were under increasing pressure in the current climate and the agreement would allow the firm to provide more “efficient solutions and excellent service”.
”Delivering support and advice in key areas through the Xero platform harnesses an exceptional solution with the best of our specialist expertise worldwide,” he said. “As a result, clients will be able to make critical decisions faster and with more confidence as they accelerate their growth plans.”
Mazars, a French firm headquartered in Paris, operates in over 100 countries globally and has a 50,000-strong workforce, with 33,000 from an integrated partnership and 17,000 from its North America Alliance.
The firm is set to combine with US-based group Forvis in June to create a top 10 global audit and advisory unit.
Mazars established its presence in Australia in 2016 and brought in $69 million in revenue in FY2023, a 15.8 per cent year-on-year increase, according to the Australian Financial Review’s Top Accounting Firms rankings.
Its preferred supplier agreement is the first signed since March last year when Xero partnered with the accounting network Allinial Global. The initiative was launched in 2021, with BDO named the inaugural “Xero Global Partner”.
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