Accounting Software Providers

Part
01
of five
Part
01

Xero Accounting Software Penetration Rate

Among European countries, Xero accounting software has the highest penetration rate in the UK with 41.03% of the market share, and the UK driving a full 26.35% of xero.com website traffic. Finland and Estonia are tied for lowest penetration rate with Xero having <0.01% of the market shares, and only accounting for <0.01% each of xero.com website traffic. The attached spreadsheet includes a detailed breakdown of the available penetration rate data by country, and the attached Google doc includes screenshots of the SimilarWeb data for website traffic share by country.

TOP 5 EUROPEAN COUNTRIES BY XERO'S MARKET SHARE

TOP 5 EUROPEAN COUNTRIES BY XERO.COM TRAFFIC SHARE

RESEARCH STRATEGY

Due to the lack of country-level revenue data for European countries (barring the UK) from Xero's most recent 2018 annual report, as well as publicly available country-level data on business directory sites such as D&B Hoovers, the research team focused on website traffic. SimilarWeb provided the country-level website traffic statistics; screenshots of the countries that are not in the top five are included in the attached Google doc. All market share and website traffic data in the attached spreadsheet are current as of the time the reports were accessed.
Part
02
of five
Part
02

FreeAgent Accounting Software Penetration Rate

We have entered the requested data for the penetration rate of the FreeAgent accounting software in the countries outlined into the "FreeAgent" tab of the attached spreadsheet.

FREEAGENT PENETRATION RATE

  • FreeAgent accounting software has its highest penetration in the UK among the countries outlined with a market share of 0.55%.
  • FreeAgent has less than 0.01% market share in all the other countries.
  • FreeAgent has most of its website visitors from the UK with a website traffic of 85.71%.
  • The revenue of FreeAgent was £9.8 million in 2018.

RESEARCH STRATEGY

We chose to identify the penetration rate of the FreeAgent accounting software based on market share for the outlined countries because the data is readily available on Datanyze.

We did not choose website traffic because the data for each country is not publicly available. We attempted to find website traffic data for FreeAgent using Similarweb but only data for the UK is publicly available as only the top five countries with the highest traffic are provided and the UK is one of them.

We also did not choose sales/revenue because the data for each country is not publicly available. We tried to find information on sales/revenue for FreeAgent through its website but it does not publish its financial reports since it is a private company. We found information on its revenue through news reports and company information sites like Craft but it is not broken down by country. We also combed through the annual report of its parent company, the Royal Bank of Scotland Group (RBS). However, there was no sales data provided for its FreeAgent product.
Part
03
of five
Part
03

Sage Accounting Software Penetration Rate

We have entered the requested data for the penetration rate of the Sage accounting software in the countries outlined into the "Sage" tab of the attached spreadsheet.

SAGE PENETRATION RATE

  • Sage accounting software has its highest penetration in the UK among the countries outlined with a market share of 0.03%.
  • Sage has less than 0.01% market share in all the other countries.
  • Sage has most of its website visitors from the UK with website traffic of 25.87%.
  • Spain and France have website traffic of 7.25% and 7.17%, respectively.

RESEARCH STRATEGY

We chose to identify the penetration rate of the Sage accounting software based on market share for the outlined countries because the data is readily available on Datanyze. The accounting software of Sage, known as Sage Business Cloud Accounting, was formerly called Sage One. Hence, we used data for Sage One from Datanyze.

We did not choose website traffic because the data for each country is not publicly available. We attempted to find website traffic data for Sage using Similarweb. But only data for the UK, Spain, and France are publicly available as only the top five countries with the highest traffic are provided and the three countries are among them.

We also did not choose sales/revenue because the data for each country is not publicly available. We tried to find information on sales/revenue for Sage through its annual report but the revenue data is broken down by region and not by country.

Part
04
of five
Part
04

Clearbooks Accounting Software Penetration Rate

We have entered the requested data for the penetration rate of the Clearbooks accounting software in the countries outlined into the "Clearbooks" tab of the attached spreadsheet.

CLEARBOOKS PENETRATION RATE

  • Clearbooks accounting software has less than 0.01% market share in all the outlined countries.
  • Clearbooks has most of its website visitors from the UK with website traffic of 89.28%.
  • The revenue of Clearbooks was £1.36 million in 2018.

RESEARCH STRATEGY

We chose to identify the penetration rate of the Clearbooks accounting software based on market share for the outlined countries because the data is readily available on Datanyze.
We did not choose website traffic because the data for each country is not publicly available. We attempted to find website traffic data for Clearbooks using Similarweb but only data for the UK is publicly available as only the top five countries with the highest traffic are provided and the UK is one of them.
We also did not choose sales/revenue because the data for each country is not publicly available. We tried to find information on sales/revenue for Clearbooks through its annual report but the revenue data is not broken down by country.


Part
05
of five
Part
05

Digital Accounting Platforms/Software: Europe

Four digital accounting platforms/software programs that are popular in Europe are FreshBooks, QuickBooks, Wave, and Expensify.

FRESHBOOKS

  • FreshBooks can identify revenue items and their associated expenses to accurately calculate profits and losses.
  • Users can give access to these records to their accountants through their FreshBooks records/logs.
  • The European country in which FreshBooks is most popular is the U.K. with 4.20% of the website's traffic.

QUICKBOOKS

  • QuickBooks enables small businesses to be in total control of their accounting and offers free online support.
  • Users can generate customized reports and feeds through the dashboard so that they can easily view only what they choose.
  • The European country in which QuickBooks is most popular is the U.K. with 2.18% of the website's traffic.

WAVE

  • Wave provides 100% free accounting tools for small businesses with nine or fewer employees.
  • Wave offers automatic bank connections that allow the seamless flow of information without manual entry.
  • The European country in which Wave is most popular is the U. K. with 7.87% of the website's traffic.

EXPENSIFY

  • Expensify can classify and code receipts, and also submit business expenses automatically to obtain approval and reimbursement.
  • Expensify offers useful features such as reconciliation of corporate cards and approval workflows for multiple levels.
  • The European country in which Expensify is most popular is the U.K. with 5.22% of the website's traffic.

RESEARCH STRATEGY

To search for popular digital accounting platforms/software programs that are popular in Europe, we found a list of the appropriate software on GetApp. We then arranged them by the highest number of reviews (most popular) and ratings. Then we selected Europe from the geographies served to filter the results. We determined the European country in which each program/platform was most popular by using SimilarWeb's traffic data.


Sources
Sources