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How does MYOB Exo compare to Xero?

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First of all I know nothing about accountancy software.Our company is using MYOB Premier for both NZ & AU and the MYOB database files are located on a common file server. We would like to migrate to SaaS solution like Xero as I understand it, it can't handle multi-company organisations. Currently we are paying about $1000 per year for annual maintenance for MYOB but the cost of migration to MYOB exo is about $3000 per year per user, $8000 - 1000K setup cost and software licence cost for MYOB exo is $6000. So all up for the first year its going to cost about $20,000. This sound absolutely ridiculous. Is fair to compare MYOB exo and Xero, are they the same thing?.

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