This is a natural fit partnership between two great products with two quite odd exceptions… First one being that Xero has an existing competitor to Deputy in Planday, which they acquired for up to $284 million in 2021. They are cannablising a market of their own product revenue by bringing in an external minority owned product. The second quite odd thing is they will be marketing two products to Xero customers. Xero Deputy in Australia/New Zealand (possibly more in the future) while offering Planday to all other countries. Australia requirements are very different to most other countries and Deputy is the leader in that space, so that will be a better offering. Planday have as of September 2023 released functionality specifically for the Australian market but that will be now canned. I’m sure there is logic to the partnership, (above my head) but it seems like something else might be in store here, perhaps a precursor to an acquisition of Deputy or a write down of the Planday investment. As a small competitor in the space with TimeKeeper, I find it fascinating and curious to see how it plays out. #xero #deputy #saas #partnerships
We’re excited to announce a new strategic Australian partnership with Deputy, the global people platform for hourly work. Once available, Deputy’s workforce management capability will be deeply integrated into the Xero platform, bringing workforce management together with Xero's payroll and accounting in one place for Xero’s Australian customers. Read more: https://lnkd.in/gRBgWbSW
