QuickBooks Online Global Growth Fueled By Third Party Developers, Strategic Partners

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Intuit Focuses on Quality Integrations, Best-in-Class Developer Experience, and Long-term Growth of App Partners

MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)-- As small businesses turn to the cloud in record numbers, Intuit Inc. (Nasdaq:INTU) is putting third party developers and strategic partners at the center of the global expansion of the QuickBooks Online platform.

A new Intuit study of small businesses in the US, Canada, UK and Australia shows a dramatic increase in cloud, app and mobile usage among small businesses over the past two years:

  • 62 percent operate their business in the cloud, up from 37 percent.
  • 68 percent use apps, up from 50 percent.
  • 63 percent run their business with a smartphone, up from 43 percent.

As the global leader in cloud accounting with 1.5 million subscribers worldwide, QuickBooks Online is at the center of the movement of small business to the cloud. There are already over 1200 apps on the QuickBooks Online platform, of which over 400 are published in the QuickBooks Apps Store, and 800 are private integrations.

“QuickBooks Online is the platform of choice because it is the best cloud accounting solution for small businesses, the biggest marketplace for developers, and the best collaboration tool for accountants,” said Vinay Pai, vice president and head of Intuit Developer Group. “As we expand the platform globally, we know that we can deliver amazing experiences for our customers by creating the best end-to-end financial management system available to them. Our developers and partners play a huge role in building this ecosystem – they help us create innovative and useful tools that help small businesses flourish.”

Fueling Developer Success

In a keynote address to 500 leading small business developers at the third annual QuickBooks Connect conference, Intuit outlined a strategy for global success rooted in continual innovation within QuickBooks Online, and the contributions of developers and strategic partners. Intuit’s three strategic priorities for fueling developer success are:

  1. Highest Quality Workflow Integrations: Intuit is the only cloud accounting solution with a UI platform that can enable truly seamless workflow integration of apps into QuickBooks. Intuit is currently pioneering a series of planned integrations with TSheets and Bill.com that combine data and UI integration to deliver a seamless experience to small business users. TSheets delivers time-tracking, shift scheduling, and automated notifications to employees. Bill.com allows businesses to pay their vendors electronically and to manage their accounts payable workflows. Intuit will build on the success of these integrations to deliver experiences that matter most to the 1.5 million small businesses that use QuickBooks Online. By focusing on delivering the best solution – and value – to customers, these integrations are built so users are not aware where QuickBooks ends and the third-party integration begins.
  2. A Best-in-Class Developer Experience: New functionality, such as Webhooks, helps developers improve their apps user experience and save time/money by notifying them when customer data has changed in QuickBooks. Developers such as Method:CRM and InvoiceSherpa have leveraged this technology. Webhooks has allowed Method users to have essential business data synced from QBO into Method in near real-time, while helping InvoiceSherpa to reduce their monthly hosting costs by nearly 70%. Intuit will continue to deliver an unmatched experience for developers by providing them with the best tools and support every step of the way.
  3. Fueling the Long-Term Growth of Developers: As the global leader in cloud accounting with the largest customer base, QuickBooks Online provides the best opportunity for developers to make money, reach global customers and grow their business. Developers and strategic partners are a core component of the Intuit’s global expansion of QuickBooks. As QuickBooks grows, so does the opportunity for developers to monetize and expand globally.

The $100k Small Business App Showdown

For the last several months, developers who entered the Small Business App Showdown have been busy engaging their social networks to promote and gain attention for their apps, which were launched after January 1, 2016 on the QuickBooks App Store (Apps.com). While the votes rolled in, the apps were also judged on their quality of integration, innovation, and market impact. Those criteria, combined with the vote tally, their App Store app card ratings, and the number of connections to QuickBooks Online subscribers, were used to select the 10 finalists. The winner will be unveiled by Intuit founder, Scott Cook during the closing remarks of QuickBooks Connect main day on October 25, 2016.

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® and TurboTax®, which make it easier to manage small businesses and tax preparation and filing. Mint provides a fresh, easy and intelligent way for people to manage their money, while Intuit's ProConnect brand portfolio includes ProConnect Online, ProSeries® and Lacerte®, the company's leading tax preparation offerings for professional accountants.

Founded in 1983, Intuit had revenue of $4.7 billion in its fiscal year 2016. The company has approximately 7,900 employees with major offices in the United States, Canada, the United Kingdom, India, Australia and other locations. More information can be found at www.intuit.com.

Intuit Inc.
Steve Sharpe, 650-224-2362
Stephen_Sharpe@intuit.com
or
Access Emanate Communications
Jen Garcia, 415-844-6244
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Source: Intuit Inc.

Released October 25, 2016