A Wellington accounting company riding on the coat-tails of Xero has taken a Wairarapa company along for the ride as both set their sights on further expansion.
Xero’s add-on partner Spotlight Reporting has teamed up with cloud based advisory and accountancy firm RightWay.
Cloud-based software business, Spotlight Reporting, was established in 2010 and now employs 21 staff in Wellington, Auckland, Australia, the UK and the US.
RightWay has grown from a staff of 4 to 56 in four years and recently expanded into Australia.
A $3 million capital injection last year saw Spotlight Reporting business grow rapidly and on the cusp of seven-figure turnover.
The company has started another round for funding, seeking about $4m for expansion into Canada, the United States and future possibilities in Asia.
Chief executive Richard Francis said he was a fan of RightWay’s “approach and attitude” and it was also a fast growing business, he said.
The idea behind the partnership was to deliver business advice to small businesses in New Zealand and Australia, while being supported by cloud-based intelligence reporting.
“We are well aligned to bring a different model to the market. Our customers already receive great personal service from regional partners, but now this is underpinned by a choice of powerful dashboards, performance reports and forecasts.”
RightWay brought a new voice to what had been a staid industry, he said.