Xero - Top Competitors (Mar 2022)

Shlomi Lavi / updated: Mar 09, 2022

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Xero vs. Alternatives in 2023

Xero competes with other core accounting systems like FreshBooks, Sage Intacct, and QuickBooks Online. We will compare these accounting systems in some specific aspects below.

• Functionality: Xero offers features like Pay bills, claim expenses, Bank connection, accept payment, track projects, Bank reconciliation, Manage contacts, Capture data, Pay runs, Files, Reporting, Inventory, send invoices, Multi-currency accounting, purchase orders, quotes, Analytics Plus, sales tax. When compared to its alternatives, FreshBooks offers Invoicing (available in Xero), Expenses management (lacking in Xero), time tracking (available in Xero & available in Sage Intacct), mobile app (lacking in Xero). FreshBooks is lacking in inventory management. Sage Intacct offers vendors payment services that are lacking in Xero and FreshBooks.
• Customers/Industries: Xero targets small businesses, accountants, and bookkeepers. Customers locally and across the world trust Xero with their numbers. FreshBooks targets Freelancers, Self-Employed Professionals, Businesses With, Contractors and Businesses With Employees. Over 160 countries have businesses using FreshBooks. Sage Intacct targets Accountants & CPA firms, Biotech & life sciences, construction & real estate, Financials services, healthcare, non-profit, professional services, hospitality, etc. Customers using sage Intacct are Red Door Interactive, 3Spine, Acumentis, Agemark Senior living, etc. Quickbooks targets small businesses, accountants, and bookkeepers.
• Cost: The license cost information for Xero starts at $20 per month. When compared to its alternatives, Quickbooks starts at $12.50/month. The license cost information for Sage Intacct is unavailable. FreshBooks starts at $6.00 per month, billed monthly, and $108 per year. According to ITQlick expert cost research, Xero is cost-rated at 1/5, which means it is a low-cost business accounting software. The rating system considers this software rated 1-2 as low-cost and 4-5 as high cost.
• Cloud-based/On-premise: Xero and all its alternatives are cloud-based.
• Popularity: Xero (2006) is publicly traded on the ASX under the XRO symbol. Over 2 million Subscribers use Xero locally and across the world. Quickbooks (1983), a subsidiary of Intuit and H.I.G. Capital is publicly traded on the Nasdaq under the INTU symbol. 4.5 million customers globally use QuickBooks. Sage Intacct (1999), a subsidiary of Sage Group, is publicly-traded on LSE under the SGE symbol. FreshBooks (2003) is privately held with 24+ Million People who have used its solutions worldwide.
• Scalability: Xero, Sage Intacct can accommodate and scale businesses from small and mid-sized to large businesses.
• Support: Xero and its alternatives share similar support channels like email/help desk, FAQs/forum, a knowledge base, and Chat. All the alternatives offer Phone support except Xero. Xero, QuickBooks, and Sage Intacct offer 24/7 live rep, which is lacking in FreshBooks.