Austin, Texas, Nov. 15, 2022 (GLOBE NEWSWIRE) -- Zoho Corporation, a leading global technology company, announced today that the Zoho Finance Platform has achieved 50% year-over-year (YOY) revenue growth, supporting more than half a million businesses across more than 160 countries. Driving the Platform's growth is the global expansion of its cloud-based accounting application, Zoho Books, which now supports 180 currencies, 17 languages, and is backed by a comprehensive global tax engine that solves country-specific tax compliance challenges. Following today's launch of Zoho Books in Mexico, just a few weeks after launching in Kenya, the accounting application now supports 14 editions, including a global version.
"There are not many finance platforms in the market available to growing global businesses. This requires supporting multiple countries, complying with constantly evolving tax and regulatory rules, and more. By offering 14 editions of Zoho Books—and growing—we are moving towards being the most comprehensive financial platform in the world," said Raju Vegesna, Chief Evangelist for Zoho. "We will continue to be innovative, challenge the conventional wisdom and raise the bar in the industry on what a finance platform can be and how businesses globally can benefit from it.
Launched in 2011, Zoho Books is among Zoho's five highest-grossing products, with revenue growing 50% YOY. The accounting application offers editions across the globe, including the US, UK, Canada, India, Australia, UAE, Kenya, and Mexico. Zoho Books is a government recognised tax-compliant solution in the UK (MTD), Saudi Arabia (ZATCA), UAE (FTA), and India (GSP).
"In a market where vendors are consolidating and moving out of countries, Zoho is doing the opposite: expanding our reach, offering a strong platform for businesses globally," continued Vegesna. "The breadth of the suite, the depth of the platform, and the unified set of integrations—internal and external—along with a strong set of native mobile and desktop applications makes it attractive to businesses worldwide."
Zoho's Finance Platform includes solutions for accounting, inventory management, travel and expense management, billing and subscription management, and payroll management. These applications are built on the same underlying platform, enabling instant interoperability, seamless data flow, and unification across systems. Typically, businesses start using one of the finance products, and then expand their usage to other applications within the suite. On average, customers using Zoho Books for more than one year adopt at least two other applications within the Finance Platform.
Powerful Ecosystem
Beyond products and the Platform, businesses can benefit from the strength of the ecosystem. The Finance Platform comes with a growing network of payment gateways, banks, travel partners, and shopping carts. Businesses can also connect with any third-party applications through APIs and Zoho Marketplace. This significantly reduces the need to invest in IT resources, and enables businesses to go to market quickly with any change.
Zoho Finance Plus and Zoho Books Pricing:
Zoho Finance Plus starts at $249 monthly per organization and includes 10 users.
Zoho Books starts at $20 monthly ($15 billed annually) per organisation. It also comes with a free plan. For more information on pricing please visit: www.zoho.com/books/pricing/
Zoho Privacy Pledge
Zoho respects user privacy and does not have an ad-revenue model in any part of its business, including its free products. The company owns and operates its data centers, ensuring complete oversight of customer data, privacy, and security. More than 80 million users around the world, across hundreds of thousands of companies, rely on Zoho every day to run their businesses, including Zoho itself. For more information, please visit: https://www.zoho.com/privacy-commitment.html
About Zoho
With 55+ apps in nearly every major business category, Zoho Corporation is one of the world's most prolific technology companies. Headquartered in Austin, Texas, with international headquarters in Chennai, India, Zoho is privately held and profitable with more than 12,000 employees. For more information, please visit: www.zoho.com
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