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Xero Named "Best Overall Accounting Platform" in 9th Annual FinTech Breakthrough Awards

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Sarah Fane
Mar 21, 2025

Xero, the global small business platform, on March 19th announced that it has been selected as winner of the "Best Overall Accounting Platform" award in the 9th annual FinTech Breakthrough Awards program. This award, presented by FinTech Breakthrough, an independent market intelligence organization, acknowledges Xero's notable contributions to the global FinTech sector through sales tax compliance innovation.

FinTech Breakthrough has recognized Xero for its comprehensive, user-friendly financial management solution designed specifically for small businesses, solidifying Xero's position as a leader in modern accounting software. In particular, Xero's innovative approach to sales tax compliance, featuring automated solutions that adapt to evolving regulations, set it apart within its category.

"Xero continues to lead the way in FinTech by providing new and innovative ways for small businesses to overcome one of the most complex regulatory challenges — sales tax," said Steve Johansson, Managing Director, FinTech Breakthrough. "Sales tax is notoriously difficult to manage with more than 13,000 jurisdictions and states' increasing reliance and focus on sales tax revenue. Managing tax compliance has become resource-intensive and error-prone for small businesses. Xero is empowering small businesses by solving this critical pain point through intuitive design and strategic partnerships. We're pleased to be able to recognize this breakthrough solution with the award for 'Best Overall Accounting Platform!'"

Innovating against pain points: Automated sales tax innovation

By seamlessly integrating advanced tax technology, Xero has enhanced its ability to provide a comprehensive and effortless accounting experience for its customers. In partnership with Avalara, an industry leader for US tax compliance, Xero's automated sales tax solution offers users a native, intuitive calculation experience embedded within the platform, providing real-time sales tax rates.

Xero's platform automatically calculates appropriate sales tax rates on invoices based on the location of sales and the taxability of items in each jurisdiction, and these rates and associated rules are automatically updated with the latest information, helping ensure businesses remain compliant with the dynamic sales tax landscape. In addition, Xero also provides access to detailed sales tax reporting capabilities, making it easier for customers to file sales tax returns.

"We are thrilled to be recognized for addressing a key pain point for small businesses and enabling them to concentrate on growth," said Ben Richmond, Managing Director, Americas, Xero. "Sales tax compliance can be a major burden, and our partnership with Avalara allows us to offer a truly innovative solution that saves businesses time, reduces risk, and frees up internal resources to focus on business-building activities. This award validates our focus on delivering powerful tools that make the lives of small businesses owners and their advisors better."


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