Intuit Launches Enterprise Suite of Financial Products to Expand Customer Base

Intuit Releases Enterprise Suite of Financial Products to Tap New Customers

(Reuters) - TurboTax maker Intuit said on Tuesday it has released a new customizable enterprise suite of its financial products in the United States to capture new customers looking for an all-in-one solution for managing their financial needs. Enterprise customers are increasingly looking to invest in AI-powered platforms that integrate various products of their choice into a single solution, and help them automate key processes including finance and accounting. The Mountain View, California-based company's products, including the personal finance portal Credit Karma and the accounting software QuickBooks, can be integrated into the contract-based enterprise suite. "We think this is going to be a big part of our business moving forward," said Laurent Sellier, senior vice president, QuickBooks Mid-Market and Workforce Solutions at Intuit. It will cost about $7,800 for a company that has a single business operation, while it will cost about $12,000 for a company that has multiple business operations under one corporation annually, Sellier said. Intuit had forecast fiscal 2025 revenue above analysts' estimates last month. It had also announced letting go of 1,800 employees or 10% of its workforce in July, as it steered major investment toward AI. (Reporting by Jaspreet Singh in Bengaluru; Editing by Vijay Kishore)

Intuit releases enterprise suite of financial products to tap new customers

Sept 17 (Reuters) - TurboTax maker Intuit (INTU.O), opens new tab said on Tuesday it has released a new customizable enterprise suite of its financial products in the United States to capture new customers looking for an all-in-one solution for managing their financial needs. Enterprise customers are increasingly looking to invest in AI-powered platforms that integrate various products of their choice into a single solution, and help them automate key processes including finance and accounting. Advertisement · Scroll to continue The Mountain View, California-based company's products, including the personal finance portal Credit Karma and the accounting software QuickBooks, can be integrated into the contract-based enterprise suite. "We think this is going to be a big part of our business moving forward," said Laurent Sellier, senior vice president, QuickBooks Mid-Market and Workforce Solutions at Intuit. It will cost about $7,800 for a company that has a single business operation, while it will cost about $12,000 for a company that has multiple business operations under one corporation annually, Sellier said. Advertisement · Scroll to continue Intuit had forecast fiscal 2025 revenue above analysts' estimates last month. It had also announced letting go of 1,800 employees or 10% of its workforce in July, as it steered major investment toward AI. Reporting by Jaspreet Singh in Bengaluru; Editing by Vijay Kishore Our Standards: The Thomson Reuters Trust Principles., opens new tab

Intuit Rolls Out Product Suite for Mid-Market Businesses | PYMNTS.com

"As businesses grow, so does the complexity of running their business," Intuit CEO Sasan Goodarzi said in the release. "Intuit Enterprise Suite fuels growth by helping customers run their business on one end-to-end business platform. 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." The Enterprise Suite is designed to reduce "manual, repetitive tasks" via streamlined processes, while placing financial management and accounting capabilities, payroll, payments and bill pay into a single tool, according to the release. The announcement follows the Sept. 4 release of "major" updates to the company's generative artificial intelligence operating system, GenOS. Intuit, whose other products include QuickBooks, Credit Karma and MailChimp, said in July it was eliminating 1,800 jobs -- 10% of its workforce -- with plans to "hire a nearly equivalent number of employees" during the next year to support its growth areas. In a message to employees included in the company's securities filing, Goodarzi said the cuts were coming as Intuit was upping its investments in AI. "We were early to bet on and invest in AI, building one of the largest AI-driven expert platforms to fuel the success of consumers, small and mid-market businesses, and important partners like accountants, financial institutions and marketing agencies who rely on us daily to prosper," Goodarzi said. "With the introduction of GenAI, we are now delivering even more compelling customer experiences, increasing monetization potential and driving efficiencies in how the work gets done within Intuit." In June, the company rolled out its new AI-powered "revenue intelligence" technology, which uses "always-on" predictive and generative AI models. "Intuit's move is the latest example of a technology company tapping AI to try to make its products more useful and attract customers," PYMNTS wrote at the time. "AI has been one of the hottest areas of technology investment in recent years as startups and big companies alike race to capitalize on its potential to automate tasks and provide new insights from data."