QuickBooks developer Intuit has retooled its web-based small business accounting system to broaden its reach in the global market.
The US market leader, Intuit has offered QuickBooks Online in the US and Canada for more than a decade, but only brought it to the UK in 2011. Other countries such as India and Australia had to wait even longer.
But all that has changed following a corporate reorganisation on functional rather than geographic lines. In August the company announced the formation of new divisions focusing on: small business financial and management tools; consumer products including tax filing programs and the free Mint.com finance system; and accounting professionals.
QuickBooks Online lies at the heart of this new strategy. Its footprint is still dwarfed by the desktop version of QuickBooks, but is growing much faster: up 28% to 487,000 users in total for the year to 31 July 2013. Internationally, QuickBooks Online now has 32,000+ users, an increase of 80% on the previous year.
“We are in the middle of a huge platform change,” announced Jill Ward, the head of Intuit’s accounts and advisor division at a summit meeting in Mountain View, California last week to explain the global strategy.
CEO Brad Smith expanded on the theme...