Intuit QuickBooks: Delivering small business success through the cloud

Date:   Tuesday , January 27, 2015

Today, our mornings are more than just a cup of coffee or tea. They are the smart devices kept under our pillows that we pick up before a cup of coffee, and then voila, the work starts there. These smart devices and their increasing affordability due to invention of cloud technology has encouraged millions of businesses to leverage this platform to enhance their business even on-the-go. While many solution provider scater cloud solutions for enterprises, those left under the dark shadow are the –small businesses whose hands are cuffed due to reasons including cost, reliability and others. Intuit (NASDAQ: INTU), with revenue of $4.5 billion in FY 2014, was founded in California, U.S. in 1983.

Intuit creates business and financial management solutions that simplify the business of life for small businesses, consumers and accounting professionals. Their flagship product Intuit QuickBooks is accounting software that has completely changed the life of small businesses putting them on the top gear. Intuit has been one of the pioneers in adopting cloud technology to provide its solutions at more reliable and competitive annual subscription. The software is built to take advantage of the cloud, which means that small businesses can access their key business information anytime, anywhere on the go and it\'s positioned to connect with other services that small businesses rely on around the globe. It allows small businesses to organize all their business finances in one place, enabling them to take quick and informed decisions, anytime anywhere. Today, Intuit QuickBooks is the world\'s No. 1 cloud business and financial management software for small businesses and accountants. Over 1.5 million users in over 124 countries are using this cloud product.

Witnessing the success of Intuit QuickBooks, Intuit launched the all new re-imagined Intuit QuickBooks as the global small business operating system in 2013. This new generation Intuit QuickBooks is available in more than 100 countries and provides small businesses and accountants with an intuitive, easy-to-use design and access to a robust, open and scalable platform that works anytime, anywhere. \"We are the world leaders in providing business and financial management solutions for small businesses and accountants worldwide. Today, we have over five million users using QuickBooks (Desktop & Online product). We rebuilt Intuit QuickBooks from the ground up to deliver a simple, yet powerful platform that goes beyond accounting and offers small businesses an unprecedented business management solution,\" says Nikhil Arora, Vice President & Managing Director – Intuit India.

Intuit established its Indian operations in 2005, which was the company\'s first venture in Asia Pacific. \"We bring our 25 years of experience and expertise to India and have also invested in understanding the unique pain points of our customers here. In the past nine years, we have grown to be 1000 employees strong with offices in Gurgaon, Bangalore and Mumbai,\" adds Nikhil. Today, Intuit QuickBooks is pioneer cloud financial management software in India and has been trailed by over 100,000 users within two years of its introduction. The company currently witnesses around 2X growth in the product adoption among the accountants.

En Route to Future

To further enlarge its horizon, this year, Intuit acquired KDK Softwares India Pvt. Ltd., a market leader in providing professional tax solutions in India. This acquisition strategy has further strengthened Intuit\'s commitment of becoming the operating system behind small business success and establishes a strong position for the company to reach accountants in India. Also, Intuit recently announced a strategic partnership with Paybooks, one of the premier and fast growing cloud based payroll providers in India. This will enable Intuit to offer a comprehensive payroll platform for small business owners and compliances. With this payroll integration, Intuit QuickBooks will have a unique and fully integrated cloud based financial management solution with payroll capabilities focused on small businesses.

By 2020, Intuit wants 1 in 4 small businesses to be using its products and services. Currently, the company is creating offerings to help address crucial plain points of India\'s millions of small businesses to enable them to manage their businesses, get paid and pay others and find and retain customers. Today, the company provides financial management, professional tax and payroll solutions to small businesses and accountants. But in the days to come, it would be introducing inventory management to grow its business and payments software solutions in India.

Key Management:

Nikhil Arora, Vice President & Managing Director – Intuit India

Taking over the charge of Intuit India as the MD in 2011, Nikhil has stood by the philosophy of the company \'In India for India\'. Under his leadership, the company has grown several folds at its initial journey itself. Nikhil brings a deep understanding of the emerging markets and his around two decades of global experience in corporate strategy, international operations, marketing and finance equips him with the much needed industry insights to take on the challenging role. Prior to Intuit, Nikhil has been working with various organizations in key management roles.

Product Offerings:

•Intuits flagship products and services include QuickBooks®, Quicken® and TurboTax®, which make it easier to manage small businesses and payroll processing, personal finance, and tax preparation and filing
• provides a fresh, easy and intelligent way for people to manage their money
•Demandforce® offers marketing and communication tools for small businesses.
•ProSeries® and Lacerte® are Intuit\'s leading tax preparation offerings for professional accountants
•TurboTax – a tax preparation software
•Quicken – a personal finance software

Offices: India, U.S, Canada, UK, Singapore and Australia

Employee Strength: 8,000