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Intuit Unveils Small Business Connected Strategy
Company to Launch Innovative Online Offerings to Meet Customer Needs and Drive Growth
MOUNTAIN VIEW, Calif. - August 13, 2008 - Intuit (Nasdaq: INTU) today outlined its "Connected Services" strategy to address the changing landscape of the small business market. Coming this fall, Intuit will meet the needs of small businesses by offering new online services that connect to its market-leading QuickBooks® products, new software delivered as a service, and tools that connect users to each other within the Intuit small business network. This strategy builds on Intuit's strength in providing leading front and back office online services to more than 250,000 small businesses today.
Intuit's Connected Services strategy reflects a world where small businesses are increasingly connected, whether through desktops, laptops or handheld devices. With this expanded connectivity, small businesses expect access to services any time, anywhere.
"This year, Intuit will offer products that solve even more important customer problems that go beyond accounting," said Rick Jensen, senior vice president and general manager of Intuit's Small Business Group. "We're finding new ways to solve problems, increasingly connecting customers to solutions. Those solutions may come from one of our products, or perhaps from a software developer who adds greater value to one of our products. And in some cases, we give customers a forum to help each others by sharing ideas."
More than 4 million small businesses currently use Intuit's small business products and services. By connecting these people to Intuit services and to each other, the company creates positive experiences with easy-to-use offerings. The company does this in three distinct ways:
- Connecting services to software: Intuit continues to improve services such as Intuit Payroll and Merchant Services that can be connected with software, such as QuickBooks. This creates solutions that are superior to other competitive offerings. Moving forward, Intuit will continue to deliver online services that leverage the valuable data within QuickBooks, while extending these services to support mobile devices. In addition, the QuickBase Development Environment, launched in closed beta last April, is driving third-party developers to create innovative rich Internet applications that integrate with QuickBooks to solve unmet and specialized customer needs on the Web.
- Connecting customers directly to online services: Intuit is making continued investments in Software as a Service, or SaaS, for customers that want to work anytime, anywhere and on a variety of devices. With the recent acquisition of Homestead, Intuit is offering software and e-commerce services to small businesses to help them establish a presence on the Web, maintain and promote their Web sites and sell or market their products online. In addition, QuickBooks Online, the company's online accounting service, which has already unshackled more than 130,000 small businesses from their desks, is now available for the iPhone and will support BlackBerry devices in the coming weeks.
- Connecting people to people: Intuit is increasingly using its products as a platform to connect people to each other, allowing them to share information and solve important problems together. For example, moving forward customers can help each other by answering each other's questions while working on their finances. The recently announced Intuit Accountant Work Exchange is also connecting accountants and enabling them to easily find, qualify and source other accounting professionals for contract work.
"As our strategy evolves, we remain committed to developing innovative products and services that are convenient and easy to use and help small business owners become more productive everyday," commented Jensen. "We are embracing new technologies and inventing new business models to help our customers achieve their dreams."
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® software, simplify small business management and payroll processing, personal finance, and tax preparation and filing. ProSeries® and Lacerte® are Intuit's leading tax preparation software suites for professional accountants. The company's financial institutions division, anchored by Digital Insight, provides on-demand banking services to help banks and credit unions serve businesses and consumers with innovative solutions.
Founded in 1983, Intuit had annual revenue of $2.67 billion in its fiscal year 2007. The company has approximately 8,000 employees with major offices in the United States, Canada, the United Kingdom 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.