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...
About John Stokdyk
John Stokdyk is the global editor of AccountingWEB UK and AccountingWEB.com.