Xero Ltd (Xero) is a cloud-based accounting software platform that provides online accounting solutions, bank reconciliation solutions, and invoicing solutions for small businesses. The company offers accounting and compliance software, software for small business operations, accountants and bookkeepers, access to financial services for small businesses, and integrations that provide access to third-party software.

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Xero invests in engineering, product development, and delivery, prioritizing initiatives that support its FY2025-FY2027 strategic goals. The company focuses on product design and execution to meet customer needs and accelerate value, supported by investment in targeted customer and market research programs. Xero leverages AI to enhance its position as a trusted financial operating system for small and medium-sized businesses globally. The company is committed to delivering AI-powered innovation, integrating AI deeply into its workflows through Just Ask Xero (JAX), and providing automated, autonomous financial processes with human oversight. Xero Ltd has introduced features such as automated bank reconciliation, GenAI conversational web search, real-time personalized financial insights, and smart document capture. The company has strategic partnerships with AI providers like Anthropic and OpenAI to enhance its AI capabilities. The R&D unit of Xero is responsible for engineering, product development, and delivery, focusing on initiatives that align with the company's strategic goals and leveraging AI to enhance product value and operational excellence. In FY2026, the company incurred an expense of NZD458 million on its R&D activities, which grew 18%YoY and stood at 16.6% of the company’s total revenue.