Xero has been named the most innovative company by Forbes for the second year in a row. Xero topped the list with an innovation premium of 90.1% which sat just above US company NetSuite who came ins second with 90%.
Xero has grown phenomenally over the last 5 years and the CEO believes they can maintain those growth rates due to the scope of their market. Online accounting is still a relatively new field with many small businesses world wide adapting slowly to the technology.
Only industries that are known to invest in innovation are included in the Forbes list – banks are excluded, as are energy and mining firms, “whose market value is tied more to commodity prices than it is to innovation,” Forbes says.
We believe this shows that whilst New Zealand is small we are still a strong global competitor when it comes to business and innovation against much larger countries and corporations.
You can read the full article via the New Zealand Hearld here