Xero, the global small business platform, has today announced it will retire project management software WorkflowMax and has signed an agreement with tech-led business advisory firm, BlueRock, to acquire the WorkflowMax brand. BlueRock has commenced plans to offer a new WorkflowMax product, WorkflowMax by BlueRock, with similar functionality.
Kirsty Godfrey-Billy, Chief Financial Officer, Xero said: “The decision to retire WorkflowMax allows us to continue to focus our efforts in key strategic areas that we believe will deliver the best value for all our stakeholders in the short and long term.”
The WorkflowMax technology has also been used by Xero to build Xero Practice Manager which continues to be a focus and is an important part of its practice strategy specifically for accountants and bookkeepers.
Xero will retire the current WorkflowMax product in June 2024 and BlueRock plans to have WorkflowMax by BlueRock available to customers in early 2024 - which customers could choose to migrate to. Once released, WorkflowMax by BlueRock will be available directly from BlueRock or through the Xero App Store, where other alternate job and project management solutions are also available.
As part of the brand acquisition, Xero will continue to use the WorkflowMax brand and manage existing WorkflowMax customer subscriptions until the product is retired. Once WorkflowMax by BlueRock is launched and made available to customers, Xero will have an ongoing revenue share agreement with BlueRock in connection with WorkflowMax by BlueRock.
“We explored a number of options for our customers when considering the future of WorkflowMax rather than simply retiring the product. I’m pleased we have signed an agreement with BlueRock. BlueRock has implemented WorkflowMax for customers for many years and understands WorkflowMax deeply. We are excited to see where they take the brand,” Godfrey-Billy said.
Peter Lalor, Chief Executive Officer, BlueRock said: “We’ve always been passionate about WorkflowMax and the benefits it brings SME business owners, and believe there is so much potential to build on the great foundations Xero has set with this product. We’re excited to offer a new job management software solution which we’re aiming to be similar, if not better, in terms of functionality, to meet evolving market and customer demands. As a business, we're focusing more and more on the development of tech and AI products that will support our SME businesses and our team of expert advisors, and the WorkflowMax by BlueRock product will be a fantastic addition to our offering.”