Intuit's Market-leading Cloud Accounting Software Marks One Year of International
QuickBooks Online, Intuit Inc.'s (Nasdaq: INTU) market-leading cloud-based accounting
software, marks one year of international expansion this month, with products now
available in Canada, the United Kingdom and Singapore.
Already the leading online accounting software in North America, QuickBooks Online is
emerging as a growing force globally. There are more than 300,000 QuickBooks Online
subscribers worldwide, mostly in the U.S., with thousands of businesses in international
markets now joining the service each month.
In addition to expanding beyond the U.S into the U.K., Singapore and Canada, Intuit is
starting to roll out the service to customers in India. Intuit customizes the offering for
each market, based on deep customer insights gained by observing hundreds of small
businesses in their own workplace. This knowledge creates a product tailored to the local
needs of small businesses and the way they work.
QuickBooks Online helps small businesses stay on top of their finances whether in the
office or on the road, saving them time and money. The product gives small business owners
instant snapshots of their businesses, showing them what they're making, what they're
spending, and who owes them money, all on a single screen. QuickBooks Online is PC and
Mac-compatible and optimized for iPhone and Android devices.
Gaining Global Momentum
"Intuit is committed to helping small businesses improve their financial lives," said
Alex Lintner, president of Intuit's global business division. "Small businesses around the
world face similar challenges and see the power of an easy-to-use solution for managing
their finances. We have seen a terrific take up in the first year, and this is just the
start of our international journey. We want to help many more people around the world to
save time and manage their business better with QuickBooks Online."
- United Kingdom: Intuit launched QuickBooks Online in the U.K. in April
2011 and continues to improve the service with regular updates of new and enhanced
Eugene Engelbrecht of London building firm Engel Construction said using QuickBooks
Online for day-to-day invoicing, cash flow tracking and VAT gives him more time to focus
on growing the business.
"QuickBooks Online has enabled me to go out there and look for work, rather than
sitting in an office doing nothing but uploading invoices. From that point of view, it's
got me back to doing the things I need to do," said Engelbrecht.
Charlie Carne, founder of Charlie Carne & Co. Chartered Accountants and Business
Advisers in London, said QuickBooks Online helps his firm be more efficient and
"Direct online access to a client's data means we can be much more proactive in our
dealings with them and offer advice to avert problems before they arise," Carne said.
"With access to data in the cloud, staff can work on the clients' books from anywhere and
because it is so easy to use, even the least financially aware clients can raise invoices
directly, reducing time taken for our staff to re-key data and allowing us to focus our
attention on more value-added services."
QuickBooks Online is available directly at quickbooksonline.co.uk
[http://www.quickbooksonline.co.uk ]. It is also available through partnerships with Smarta
and BCSG) as part of bundled SaaS offerings through leading high street banks, Royal Bank
of Scotland, NatWest and Barclays.
- Singapore: Intuit launched QuickBooks Online in Singapore in April 2011
through a strategic partnership with SingTel (http://www.intuit.sg).
Over the course of the year, Intuit has added functionality and features that make it
easier for Singapore's small businesses to stay on top of their finances and get paid in a
timely manner as they look to grow their business.
Benedict Lim, Managing Director and Acting Chief Psychologist, http://www.iGROW.sg
, a psychological consultancy, said his company was attracted by the simplicity,
ease-of-use and flexibility offered by QuickBooks Online.
"QuickBooks Online gets my business organized, simplifies sales and expense tracking,
and ensures reliable records for tax time. Being a cloud solution, I can check my business
health anytime, anywhere, even on my mobile devices," Lim said.
- Canada: Intuit launched QuickBooks Online in Canada in March 2012
(quickbooksonline.intuit.ca [http://quickbooksonline.intuit.ca ]). Product features
include online banking integration, which safely links customers' accounts with their
bank to import statements and removes the need to manually enter transactions.
Lynn Cheney of Lynn's Income Tax and Bookkeeping Ltd. in Airdrie, tested an early
version of the product. "Having free user access for accountants to log in and check
clients' records was a big advantage," she said.
"QuickBooks Online is better than other programs because of the fact it is online and
the accountant can access it anytime," Cheney said.
Peggy Crawford of Renewed Business Strategies, a professional services firm in
Ontario, was impressed by the ability to manage finances on the go. "I don't use a lot of
mobile applications, but this was an interesting experience to create an invoice on the
go," she said.
- India: The international expansion for QuickBooks Online continues with
Intuit starting to roll out the service to customers in India (quickbooksonline.in
[http://www.quickbooksonline.in ]). With around 2 million broadband-connected small
businesses, India offers huge growth potential for cloud-based services. QuickBooks
Online complies with Indian norms and accounting formats with support for local tax
compliance for VAT and Service Tax.
Somasekhar.BS runs a printing solutions company, ECompat Printing Solutions in
Bangalore. His company was among the first in India to start using QuickBooks Online.
Having previously relied on manual methods, creating invoices in Word documents and
tracking income and expenses in Excel spreadsheets, Somasekhar estimates he is saving
between four and five hours a week using QuickBooks Online to manage all his business
processes in one place.
Founded in 1983, Intuit had annual revenue of $3.9 billion in its fiscal year 2011.
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 http://www.intuit.com.
Source: Intuit Inc
Contacts: Scott Rowe, Intuit Inc., +44(0)-7718-340-187, firstname.lastname@example.org ; Nicole Green, Seven Hills, +44(0)-207-199-2200, email@example.com .