Colin Spencer has experience in senior financial roles and owns two businesses: a PR agency called Target Public Relations and an accounting consultancy called Spencer Accounting Services. Xero is a cloud-based accounting software started in New Zealand in 2006 that has over 700,000 users worldwide and is a market leader in accounting software. It offers features such as bank reconciliation, invoicing, expense claims, reporting, payroll, and integrations with add-ons. Customers praise benefits like real-time access, low monthly costs, automatic updates, and online storage and support.