Cloud Watch: Xero shifts listing to Australian Stock Exchange

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Cloud apps are turning into big business in 2018, with early news reports reflecting stock market moves by a couple of leading players in the industry.

Xero shifts focus to Australian Stock Exchange

12 Feb - Xero has delisted from the New Zealand stock exchange in its home country to switch to a sole listing on the Australian Securities Exchange (ASX).

According to Xero, the transition provides a platform for the next phase of its growth, allowing the company to maximise its capitalisation on the Australian exchange.

As Xero CEO and founder Rod Drury explained during a Sky Business interview, the company wanted to make it easier for shareholders to invest in the company and attract global investors: “Really big global investors want to jump up on our growth story as we are emerging as a small business platform,” he said.

Xero explained its reasons in more detail in an announcement to shareholders: “As Xero continues to grow, having enhanced access to deeper capital markets, increased trading liquidity and a broader base of potential investors is critical to fulfilling the company’s aspirations. The Xero board of directors believes a sole listing on the ASX will advance these goals.”

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Adaptive Insights hires Morgan Stanley

9 Feb - Financial management software provider Adaptive Insights is reported to be preparing for a public offering.

Adaptive Insights has hired the global financial services firm Morgan Stanley, which could signal the company’s preparation for an initial public offering, reported Reuters.

Adaptive Insights, which develops cloud-based business forecasting, budgeting and planning tools for mid-size companies, was valued at $500m in 2015 and could achieve a valuation of more than $600m if it went public.

A spokeswoman for Adaptive Insights said: “We continually evaluate opportunities, including financing opportunities like a public offering. But we do not comment on our future financing plans.”

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Spotlight Reporting adds dynamic rules to forecasts

6 Feb - Spotlight Reporting welcomed 2018 with a product update featuring a new cashflow waterfall forecast chart, an executive action plan and dynamic rule tools for its forecasting module.

To generate its reports and forecasts, Spotlight plugs into the P&L data in Xero and QuickBook cloud accounting systems (as well as other sources via CSV transfers). Using built-in defaults the system can output a P&L budget, balance sheet budget and cash flow forecast.

Those reports and forecasts can be tweaked with further customisation tools, which now include dynamic forecasting rules, so that you can enter a formula against one line in the forecast – for example revenue – and it will include an associated change on another line, such as product costs.

“We’ve put a lot of effort into the forecasting tool, because our vision is that every business needs a forecast and a budget,” commented Spotlight Reporting’s UK customer success specialist Debbie Spooner.

The developer is now working on a set of board reporting packs that will include the enhanced forecasts as well as cash flow waterfall charts and action plans, she added.

Interested in forecasting, planning and analysis software? Keep an eye out for further AccountingWEB coverage that will culminate in a market overview and buyer's guide in late spring.

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