Xero CEO Rod Drury (pictured) says the online accounting company has been ranked 8th in the Asia Pacific Deloitte Technology Fast 500.

"When you’re running hard growing a global business you seldom have the time to stop and take stock of what has been achieved by the team,” Drury wrote in a blog post to mark the occasion.

"But when we hear Xero is ranked 8th in the Asia Pacific Deloitte Technology Fast 500 – the first time a New Zealand business has made the Asia Pacific Tech Fast 500’s top 10 – it’s a proud moment”

The  index ranks the fastest growing 500 tech businesses according to their revenue growth or public and private companies over the past three years, obtaining key data across Australia, China (Hong Kong), India, Japan, Korea, Malaysia, New Zealand, Singapore and Taiwan.

"Xero’s ranking was due to 2,250.26% revenue growth over this period,” Drury added while noting that cloud computing was also making itself known in the tech list.

"In the full report Cloud computing, while receiving attention for its potential to shift the fundamental business model of delivering and consuming IT services, is making a quiet appearance on the Asia Pacific scene.

"Of the 245 CEOs who participated in the annual survey, 23% indicated that cloud-based application services have helped them grow more quickly, while 21% say it brought costs down,” he said.