Drury says the goal is to be "a full competitor to the incumbents but with much more delight." Those remarks followed a recent item on the Xero website that came in response to inquiries about recent growth in its share price. Investors were told that in  2013 Xero, "expects to complete the breadth of functionality to fully compete with the incumbent desktop software providers while delivering significant new innovations. A key focus for the business for the year ahead is building out the global in-market teams."

In a later interview, Drury says that means concentrating on functions "from order to cash workflow" that entails adding features such as purchase orders, quotes and simple stock [inventory].

The prepared remarks also ruled out a stock offering in the United States anytime soon. While he told investors that is the goal of any company with worldwide aspirations, Xero has been advised it would not make sense until the company achieves revenue of at least $100 million. Its current revenue level is well below that, although rapidly accelerating.

Bob Scott

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Bob Scott has provided information to the tax and accounting community since 1991, first as technology editor of Accounting Today, and from 1997 through 2009 as editor of its sister publication, Accounting Technology. He is known throughout the industry for his depth of knowledge and for his high journalistic standards.  Scott has made frequent appearances as a speaker, moderator and panelist and events serving tax and accounting professionals. He  has a strong background in computer journalism as an editor with two former trade publications, Computer+Software News and MIS Week and spent several years with weekly and daily newspapers in Morris County New Jersey prior to that.  A graduate of Indiana University with a degree in journalism, Bob is a native of Madison, Ind