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Intuit Inc. : QuickBooks Online Suite Bolsters Productivity for Small Businesses

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08/28/2012 | 02:35pm CEST

Updates Deliver Personalized and Complete Financial Management to More Than 360,000 Subscribers

Small business owners no longer have to be the jack of all trades. They can be the jack of their own trade.

New additions to QuickBooks Online and its suite of connected applications deliver a complete financial management solution to any small business. Instead of making due with a patchwork of many separate back-office solutions, small business owners can personalize an all-in-one financial management experience that runs the back office so they can be more productive and focus on running their businesses.

For more than 360,000 paying small business subscribers, the online financial management program from Intuit Inc. (Nasdaq: INTU), makers of the best-selling QuickBooks software, does more than accounting. As an open system, it adds value through seamless integration with Intuit apps and third-party apps, and mobile access to data.

"It's a transformative time for small businesses and their accounting partners as online and mobile solutions become the norm," said Dan Wernikoff, senior vice president and general manager of Intuit's Financial Management Solutions division. "We're seeing 28 percent annual growth in our QuickBooks Online customers, and saw our QuickBooks Mobile users triple over the past year. We're committed to serving the needs of this fast-growing community in the U.S. and abroad with innovations and an always-on, hassle-free experience that helps small businesses save time managing their finances."

More Power, More Flexible

The latest updates to the QuickBooks Online suite make it more powerful, more flexible and easier to use than ever:

  • Unlock data to save time on critical tasks. The new Downloaded Transactions feature borrows the ease of use in Mint.com to help small businesses save significant time banking in QuickBooks Online. Eliminating manual entry and minimizing errors, Downloaded Transactions automatically imports and smartly categorizes new transactions from a user's bank or credit card accounts. After users categorize a transaction once, QuickBooks Online learns and applies the rule. Users always control what transactions save to their books and have the latest transactions at their fingertips without having to log into bank or credit card accounts.

Small businesses can get paid faster with Money Bar, another new feature. It centralizes income forms, including estimates, invoices and sales receipts, summarizes totals for due or past due transaction items, and then guides the user to take immediate action. A patent-pending status bar shows progress as the user banks income, tracking a transaction's status from estimate to paid.

  • Complete more key tasks on the go. Feature additions to QuickBooks Mobile, such as the ability to record payments, provide total access to invoices and customer balances in QuickBooks Online. QuickBooks Mobile is a free companion app and is the most comprehensive of its kind. It is available on Apple and Android mobile devices.
  • Customize QuickBooks Online with third-party applications. New add-ons fully integrate with QuickBooks Online data to create tailored solutions that serve the distinct needs of every small business, including project management and inventory management. Businesses can try and buy apps at the Intuit App Center, including premier solutions, such as Bill.com, Mavenlink, Salesforce for QuickBooks and SOS Inventory.

These updates to QuickBooks Online not only help small businesses spend less time on accounting, they also improve client-accountant collaboration.

"Downloaded Transactions and Money Bar are significant time-saving additions to QuickBooks Online. They make online banking and income tracking really efficient and ensure the user is always in control, making mistakes a lot less common," said Stacy Kildal, a certified public accountant, owner of Kildal Services in Waterford, Mich. and co-host of RadioFreeQB.com. "Seeing the delight on my clients' faces when they realize how much time these improvements will save them never gets old to me. One client even described the ability to stay on top of her receivables with Money Bar 'a visible sense of accomplishment!'"

Learn more and sign up for QuickBooks Online at http://www.quickbooks.com/.


About Intuit Inc.

Intuit Inc. is a leading provider of business and financial management solutions for small and mid-sized businesses; financial institutions, including banks and credit unions; consumers and accounting professionals. Its flagship products and services, including QuickBooks®, Quicken® and TurboTax®, simplify small business management and payroll processing, personal finance, and tax preparation and filing. ProSeries® and Lacerte® are Intuit's leading tax preparation offerings for professional accountants. Intuit Financial Services provides enhanced online banking solutions and unique insights to help banks and credit unions serve businesses and consumers with innovative solutions.

Founded in 1983, Intuit had annual revenue of $4.2 billion in its fiscal year 2012. The company has approximately 8,000 employees with major offices in the United States, Canada, the United Kingdom, India and other locations. More information can be found at www.intuit.com.

Intuit, the Intuit logo and QuickBooks, among others, are registered trademarks and/or registered service marks of Intuit Inc. in the United States and other countries.

Intuit Inc.
Monica Appelbe, 650-944-5648
Access Communications
Whitney MacDonald, 415-844-6294

© Business Wire 2012
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Financials ($)
Sales 2017 5 049 M
EBIT 2017 1 712 M
Net income 2017 880 M
Finance 2017 257 M
Yield 2017 1,23%
P/E ratio 2017 31,66
P/E ratio 2018 27,14
EV / Sales 2017 5,48x
EV / Sales 2018 5,01x
Capitalization 27 940 M
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Mean consensus OUTPERFORM
Number of Analysts 20
Average target price 115 $
Spread / Average Target 6,0%
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Brad D. Smith Chairman, President & Chief Executive Officer
R. Neil Williams Chief Financial Officer & Executive Vice President
Henry Tayloe Stansbury Chief Technology Officer & Executive VP
Scott D. Cook Director
Dennis D. Powell Independent Non-Employee Director
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