Intuit Introduces Intuit Enterprise Suite to Help Businesses Grow, Streamline Operations, and Scale
17 September 2024 - 10:30PM
Business Wire
Intuit further expands mid-market offerings
with an all-in-one solution that serves larger and more complex
businesses and fuels their growth
Today, Intuit Inc. (Nasdaq: INTU), the global financial
technology platform that makes Intuit TurboTax, Credit Karma,
QuickBooks, and Mailchimp, announced a major milestone to
accelerate its offerings for mid-market businesses with the
introduction of Intuit Enterprise Suite, a configurable suite of
integrated financial products designed to seamlessly scale and
enhance productivity and profitability for businesses as they grow.
As the world’s leading financial technology platform, Intuit is
best positioned to serve the $89 billion total addressable market
of larger, mid-market businesses who have more complex business
needs as they scale. Intuit Enterprise Suite is now available in
the US to multi-entity, service, and project-based businesses.
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the full release here:
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Intuit Enterprise Suite is designed for businesses focused on
growth, providing one scalable, integrated solution that decreases
manual, repetitive tasks with streamlined processes, boosts
productivity through powerful automation, and unlocks actionable
insights for faster decision making. With the power of AI, Intuit
Enterprise Suite enhances profitability end-to-end with a full set
of core capabilities all in one place, including: access to robust
financial management and accounting capabilities; integrated
payroll, payments, and bill pay; automated marketing; access to
third-party apps, and a team of experts. It meets the needs of
existing QuickBooks customers looking for more powerful
functionality and will also include industry-specific
customizations for construction, non-profit, service and
project-based businesses.
According to the 2024 Intuit QuickBooks Business Solutions
Survey, growth is the number one priority for mid-market
businesses, with 82% prioritizing expansion at a steady or fast
pace over the next year. However, growing businesses are juggling
multiple applications to manage their operations - using 10
different software programs on average - leading to overspending on
unused software and time wasted on manual and repetitive tasks due
to the lack of an integrated system. Among businesses prioritizing
growth, the top improvements they say are needed for their current
apps to support that growth are better integration capabilities and
more automation to streamline processes and reduce manual work.
“As businesses grow, so does the complexity of running their
business. Intuit Enterprise Suite fuels growth by helping customers
run their business on one end-to-end business platform,” said
Intuit CEO Sasan Goodarzi. “This mid-market solution is powered by
Intuit’s data and AI platform, boosting productivity through
powerful automation, and unlocking business intelligence with
actionable insights.”
With Intuit Enterprise Suite, business owners can:
- Manage finances through AI-powered insights and tools:
Growing multi-entity, mid-market businesses can experience powerful
and intuitive financial management capabilities with Intuit
Enterprise Suite. Businesses can manage their financial and
accounting processes in one place with the ability to prepare
consolidated or individual financial statements and handle
intercompany transactions. Intuit Enterprise Suite also uses AI to
automate planning tasks, including cash flow management, budgeting,
and profit and loss forecasts in seconds. It also monitors business
performance with reports and real-time dashboards.
- Track industry-tailored project performance and
profitability insights: Businesses can deliver projects that
support their growth goals with a customized, industry-specific,
360-degree view of project management and financial data in one
place. Intuit Enterprise Suite tracks real-time project
profitability and performance with custom, multi-dimensional
reports and KPIs, including those designed specifically for the
construction industry. It syncs employee time data with payroll and
projects and sets AI-powered KPIs with estimated targets compared
to historicals. Intuit Enterprise Suite also flags when projects
are off target with recommended actions to get them back on
track.
- Attract and engage customers: Intuit Enterprise Suite
includes Mailchimp’s marketing technology, helping businesses find,
retain, and manage customers through email and SMS campaigns and
leverage customer data from QuickBooks to find untapped revenue
opportunities. Businesses can also build and generate personalized
customer journeys with marketing automation and AI tools, as well
as segment and manage audiences.
- Stay compliant, pay, and manage teams with confidence:
Businesses have access to robust payroll and HRIS features beyond
just paying employees. Intuit Enterprise Suite includes automated
new-hire onboarding processes and access to healthcare, retirement,
and workers' comp benefit offerings. It simplifies the overall
payroll process with integrated time-tracking features and helps
businesses stay compliant by improving accuracy with automated
payroll tax calculations, deductions, and filings, and will soon
detect anomalies with AI to catch errors.
- Get paid faster and easily manage bills: Businesses can
stay on top of their cash flow and get paid four times faster* with
instantly payable invoices plus accounts payable and receivable
automation and reconciliation across entities. Financials are also
streamlined with the ability to create estimates, accept payments
on the go, set up automatic invoice reminders and approvals, and
handle payment issues with dispute protection.
- Access to specialized services and experts: Businesses
have a direct line to assigned account and customer success
managers and professional service experts focused on helping them
succeed. This includes access to guided setup and training and
coordinated customer care and professional services to help
identify and recommend a configurable solution that meets the needs
of each business at every stage of growth.
Through an experienced, robust sales organization, Intuit
Enterprise Suite takes a contract-based approach to pricing so
customers pay based on their tailored solutions. For more
information, visit https://www.intuit.com/enterprise/.
About Intuit
Intuit is the global financial technology platform that powers
prosperity for the people and communities we serve. With
approximately 100 million customers worldwide using products such
as TurboTax, Credit Karma, QuickBooks, and Mailchimp, we believe
that everyone should have the opportunity to prosper. We never stop
working to find new, innovative ways to make that possible. Please
visit us at Intuit.com and find us on social for the latest
information about Intuit and our products and services.
This information is intended to outline our general product
direction, but represents no obligation and should not be relied on
in making a purchasing decision. Additional terms, conditions and
fees may apply with certain features and functionality. Eligibility
criteria may apply. Product offers, features, functionality are
subject to change without notice.
Money movement services are provided by Intuit Payments Inc.,
licensed as a Money Transmitter by the New York State Department of
Financial Services. For more information about Intuit Payments'
money transmission licenses, please visit
https://www.intuit.com/legal/licenses/payment-licenses/. Not
available in U.S. territories or outside the U.S.
Healthcare is provided in partnership with Allstate Health
Solutions. Intuit Insurance Services Inc., is a licensed insurance
broker and is paid a percentage fee of insurance policy premiums in
connection with the services. Sold separately. Additional terms and
conditions apply.
401(k) is provided and administered by Guideline. Intuit is not
a 401(k) plan administrator, fiduciary or other provider. Sold
separately. Additional terms and conditions apply.
Workers' comp is provided by NEXT Insurance. Not available in
OH, ND, WA and WY. Sold separately. Additional terms and conditions
apply.
2024 Intuit QuickBooks Business Solutions Survey Sample and
methodology
Intuit QuickBooks commissioned an online survey in August 2024
of 630 owners and executives from businesses with 10-99 employees
throughout the US, all aged 18+. Half of respondents (56%) own a
business with 10-99 employees. Two in 5 (44%) work full-time for
business with 10-99 employees as a CEO/President, CFO/Controller,
COO/Operations Manager, or CTO/Technology Manager. Three in 4 (75%)
respondents are Millennials aged 28-43. Nearly 3 in 4 (73%)
respondents are male and 1 in 4 (27%) are female. Averages have
been calculated using a weighted median. Nearly 3 in 4 (73%)
respondents are white. The second largest racial group is Black
(13%). Percentages have been rounded to the nearest decimal place,
so values shown in data report charts and graphics may not add up
to 100%. Responses were collected using Pollfish audience pools and
partner networks with double opt-ins, random device engagement
sampling, and post-stratification based on census data to ensure
accurate targeting and results. Respondents received
remuneration.
*Four times faster based on U.S. customers using QuickBooks
Online invoice tracking and payment features, compared to customers
not using these features, from Aug 2022 to July 2023.
The total addressable market referenced incorporates an expanded
view of the mid-market opportunity as Intuit continues to serve
these customers with offerings and services across its
platform.
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version on businesswire.com: https://www.businesswire.com/news/home/20240917332019/en/
Intuit QuickBooks: Kim Amsbaugh
kim_amsbaugh@intuit.com
Jen Garcia Jeng@accesstheagency.com
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