Got Apps? Small Businesses Present Massive Opportunity for Developers
16 April 2015 - 10:30PM
Business Wire
Intuit Study Finds Small Business Owners
Spend 4 Hours a Day Online; Smartphone a Primary Device for
Many
Small businesses are hungry for apps. And that’s good news for
app developers, who have a once-in-a-generation opportunity to feed
a massive and hungry market – the 29 million U.S. and 600 million
global small businesses who are increasingly running their
operations in the cloud.
“The Appification of Small Business,” a new research report
commissioned by Intuit Inc. (Nasdaq: INTU), reveals the extent to
which small businesses have already moved to the cloud, and
projects the growing opportunity for developers.
The research, conducted by Nielsen Consumer Insights, shows
that:
- The small business market is a
lucrative developer opportunity – Small business owners
currently spend $630 annually on software solutions, In addition,
85 percent of small businesses are willing to invest more in the
next five years.
- The center of the small business
cloud is financial management – On average, small business
owners spend four hours a day online running their business. The
top three online activities are: bookkeeping and accounting (65
percent), generating invoices and or accepting payments (65
percent) and managing existing customer relationships (58
percent).
- Small business owners want seamless
integration between solutions – four out of five (81 percent)
small business owners say it is important that the different
software solutions they use work seamlessly together. Increasingly
this includes mobile solutions, with nearly half (43 percent) of
small business owners using a smartphone as the primary device to
run their operations.
“This research provides concrete evidence of why developers
should pay attention to the small business opportunity, and how
they can go about creating game-changing apps,” said Avi Golan,
vice president and general manager of the Intuit Developer Group.
“We believe that developers hold the key to unlocking the true
potential of the small business cloud. That’s why we’ve turned
QuickBooks Online into an open platform with best-in-class
developer tools and a dynamic apps store.
“With nearly 1 million small business subscribers, QuickBooks
Online offers developers access to the world’s largest market of
cloud-based small businesses.”
Dawn of the Cloud-powered Small Business
Developers have a rare opportunity to seize first-mover
advantage in the small business apps marketplace because small
businesses are only just reaching the tipping point of cloud
adoption. Research shows that while 37 percent of U.S. small
businesses are currently adapted to the cloud, that number is
expected to grow to 78 percent by 2020.
“I spend almost 100 percent of my time online during the
business day,” said Michelle Sahagian, owner of Western Food
Safety, a small business in Mission Viejo, Calif. “The same
software I love I also hate, because it doesn't do everything I
need. An ideal solution would save me time and money by meeting the
specific needs of my business and integrating seamlessly with the
other tools I already use.”
Developer Activity Surges
Developer activity on the QuickBooks Online platform has
increased 10-fold in the past year, totaling more than 10,000
active third-party developers today. A year ago, developers offered
80 apps that worked with QuickBooks Online. Today, there are over
1,000, including 200 featured in the QuickBooks Online apps
store.
“Whether you’re an established developer or just getting
started, partnering with Intuit is a great opportunity to expand
your offering,” said Kim Ford, CEO at ServiceM8, a cloud solution
for service business available in the QuickBooks apps store. “We
love the open platform and the energy from Intuit’s team as we
build a combined solution, focused on supporting small businesses
globally.”
Developer Experience Fuels Speed and Agility
Intuit offers a world-class suite of tools and services,
enabling developers to work with sample code and test an idea for a
QuickBooks Online app in just 15 minutes. Sample apps provide
examples of e-commerce, time-based billing and customer
relationship management integrations. New software developer kits
and simple documentation make it easier than ever to call
QuickBooks Online application programming interfaces, or APIs.
Click here for more information about the small business apps
market opportunity.
Survey Methodology:
A representative sample of 504 U.S.-based small were surveyed by
Nielsen Consumer Insights from Jan. 21 – 27. The vast majority (82
percent) of small business owners surveyed have fewer than five
employees, and virtually all (97 percent) have fewer than 25
employees. The types of business surveyed were: service-based (59
percent), product-based (22 percent) and hybrid (18 percent).
About Intuit Inc.
Intuit Inc. creates business and financial management solutions
that simplify the business of life for small businesses, consumers
and accounting professionals.
Its 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. Mint.com provides a fresh, easy and intelligent
way for people to manage their money, while Demandforce® offers
marketing and communication tools for small businesses. ProSeries®
and Lacerte® are Intuit's leading tax preparation offerings
for professional accountants.
Founded in 1983, Intuit had revenue of $4.5 billion in its
fiscal year 2014. 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 Inc.Steve Sharpe,
650-224-2362stephen_sharpe@intuit.comorAccess CommunicationsJen
Garcia, 415-844-6244jgarcia@accesspr.com
Intuit (NASDAQ:INTU)
Historical Stock Chart
From Apr 2024 to May 2024
Intuit (NASDAQ:INTU)
Historical Stock Chart
From May 2023 to May 2024