Intuit Inc. Among Apps Top 500

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Intuit Inc. Strengths, Domain Expertise, and Key Differentiators

In the United States, Intuit has carved out a significant share of the small business market with QuickBooks, its popular accounting and ERP package. In addition, Intuit sells an array of applications and attached services for payroll, inventory tracking, time and expense management, payment processing, and services operations management for professional accountants. In the Cloud applications market, Intuit’s QuickBooks Online product subscribers growth is consistent with the solid performance of Intuit as it continues to demonstrate its commitment to the small business market with easy to use products that have won a huge following from its loyal installed base.

During its recent Investor Day, Intuit outlined growth of the $2,000 QuickBooks Advanced as it doubles its installed base to 75,000 customers over the past year with 30% of them adopting the SMB ERP apps for the first time. Our Buyer Insight Master Database traces migration path of many of these QuickBooks customers.

Intuit is getting aggressive with its midmarket expansion plans, while meeting the needs of widget-selling companies as it picks up TradeGecko for inventory and order management capabilities, especially for eCommerce channel.

The AWS cloud is good enough for Intuit, evidently. The company first set up a few small apps tools to run online. Impressed with the results, the company then proceeded to move to the cloud one of its data centers that were coming up for lease renewal. Doing that cut costs by up to six times. In addition to cost savings, running on AWS brings Intuit a number of other advantages including the ability of developers to create services more quickly. If Intuit acquires a company that already uses AWS, the integration process goes a lot more smoothly. Intuit runs 33 applications, 26 services, and eight tools on AWS. The company’s popular Mint financial adviser service now runs on AWS. Over time, the company will move all of its offerings to the cloud.

Intuit Inc. Recent Developments

In April 2020 Intuit released Intuit Aid Assist, a free website with an interactive tool to help eligible small business owners and the self-employed assess how much federal relief they are eligible for under the recently passed Coronavirus Aid, Relief, and Economic Security (CARES) Act, administered by the Small Business Administration (SBA). Intuit Aid Assist is the latest of three new services launched by Intuit to help Americans better understand and potentially access billions of dollars through the recently passed U.S. government aid and relief programs. QuickBooks Capital is now a non-bank SBA-approved lender for the Paycheck Protection Program (PPP) under the CARES Act, and Intuit TurboTax launched Stimulus Registration, a new service to help consumers register to receive their stimulus checks from the government.

In November 2017, TurboTax, from Intuit has introduced a new way of doing taxes: TurboTax Live. Combining the ease of use and technology of TurboTax software with a nationwide virtual network of credentialed tax experts, TurboTax Live delivers confidence and expertise to living rooms across the country, on-demand.

In October 2017, Intuit the maker of TurboTax and Mint, introduces Turbo, the first and only financial health profile that unleashes the power of verified IRS-filed income, debt-to-income ratio, and credit score, showing consumers where they truly stand – beyond the credit score.

In May 2017, Intuit published the availability of free Practice Management features in QuickBooks Online Accountant, significantly reducing the number of tools accounting professionals need to manage their practice. Accountants in Australia, Canada, France, the United Kingdom, and the United States can now access the features directly in QuickBooks Online Accountant. The new work dashboard is fully mobile-enabled and gives accountants the power to track their work in the same place where they get it done.

The availability of this first set of practice management features is the first step toward providing an end-to-end practice management solution designed with the accounting professional in mind.

Intuit Inc. Mergers and Acquisitions (M&A) Activities

In August 2020 Intuit acquired TradeGecko, the inventory and order management platform that makes omnichannel commerce easy for small businesses. Integrating QuickBooks’ suite of financial, payment, reporting and accounting tools with TradeGecko’s robust inventory and order management system will help product sellers run and grow their business, all on one powerful platform. The transaction is expected to close in September 2020.

Incorporating TradeGecko’s robust inventory and order management capabilities into QuickBooks Online will allow QBO customers to launch and manage products across multiple online and offline sales channels, manage orders and inventory fulfillment from multiple channels and across multiple inventory locations, synchronize inventory across online and offline channels, avoid stock-outs and access real-time insights.

In February 2020 Intuit is buying consumer finance company Credit Karma in a $7.1 billion cash and stock deal that will take it deeper into the financial products realm. The agreement would bring together the maker of TurboTax, QuickBooks, and other personal finance tools with one focusing on consumers’ access to financial products, such as finding the right loan or credit card. Credit Karma offers users free access to credit scores and information about financial products. It analyzes consumers’ financial data and based on that, suggests products. Credit Karma gets paid by a bank or lender if a user gets a loan, credit card, or other financial product through its system.

In June 2019, Intuit has acquired Origami Logic, the makers of an advanced data integration, ingestion, and analytics platform. Silicon Valley-based Origami Logic developed technology to analyze and gain insights from multiple data sets. Origami Logic’s platform collects data from a variety of sources and generating insights quickly and efficiently. This acquisition accelerates Intuit’s ability to organize, understand, and use data to deliver personalized insights that help customers quickly achieve success and build confidence whenever they use Intuit products.

Intuit Inc. Customers in ARTW Customer Database

Leveraging a rigorous data-centric research methodology, APPS RUN THE WORLD asks the simple question: Who’s buying Intuit Inc. applications and why? And we provide the answers – supported by decades of research – to our clients around the world. Our Customer database has over 100 data fields that detail company usage of Intuit Inc. and other enterprise apps by function, customer size, industry, location, implementation status, partner involvement, Line of Business Key Stakeholders and IT decision makers contact details. List of Verified QuickBooks, TurboTax, Mint, ProConnect customers.

Intuit Inc. Key Enterprise and Cloud Applications

QuickBooks, TurboTax, Mint, ProConnect

Intuit Inc. Revenues, $M:

Type/Year 2018 2019 YoY Growth, %
Total Revenues, $M Subscribe Subscribe Subscribe
Enterprise Applications Revenues, $M Subscribe Subscribe Subscribe
Cloud Applications Revenues, $M Subscribe Subscribe Subscribe

* Enterprise Applications Revenues = License + Support & Maintenance + SaaS
** All revenue figures are estimates based on public records, Cloud and Non-Cloud business models in Apps Run The World's vendor database, and annual survey results including vendor feedback.

Intuit Inc. Revenue Breakdown By Type, $M:

Type License Services Hardware Support & Maintenance SaaS
% of Total Revenues Subscribe Subscribe Subscribe Subscribe Subscribe
Revenues, $M Subscribe Subscribe Subscribe Subscribe Subscribe

Intuit Inc. Revenues By Region, $M

Region % of Total Revenues 2019 Total Revenues, $M 2019 Enterprise Applications Revenues, $M 2019 Cloud Applications Revenues, $M
Americas Subscribe Subscribe Subscribe Subscribe
EMEA Subscribe Subscribe Subscribe Subscribe
APAC Subscribe Subscribe Subscribe Subscribe
Total Subscribe Subscribe Subscribe Subscribe

Intuit Inc. Direct vs Indirect sales

Region Direct Sales Indirect Sales Total
Type % Subscribe Subscribe Subscribe
Revenues, $M Subscribe Subscribe Subscribe

Intuit Inc. Customers - Breakdown by Geo, Size, Vertical and Product

List of Verified Intuit Inc. Customers


No. of Intuit Inc. Customers: 50000000

No. of Intuit Inc. Enterprise Applications Customers: 50000000

No. of Intuit Inc. Cloud Customers: x

No. of Intuit Inc. Cloud Subscribers: 34000000


Intuit has around 57 million customers around the world. Our customer database shows Intuit QuickBooks securing 21 million customers including both Cloud and onpremise accounts. QuickBooks Online customers total more than 5.1 million worldwide, while there are as many as 15 million desktop QuickBooks customers either with direct relationships with the vendor or through partners like accounting firms.

Over the past years, Intuit QuickBooks Online has been gaining tens of thousands of new subscribers every quarter. The online population growth is going to skyrocket for Intuit as it focuses its marketing efforts almost entirely on Cloud adoptions even at the retail level, as small businesses continue to shift to the Cloud.

Intuit Inc. Market Opportunities, M&A and Geo Expansions

In July 2020 Intuit QuickBooks launched a host of innovative product tools as part of its Summer Product Release to support small businesses in their recovery following COVID-19 and improve long-term resilience. The new tools include an updated cash flow planner; PayPal integration into the software; an updated payroll function to manage furloughed workers and streamlined product features for accountancy firms and construction SMBs.

Averaging a new QBO subscriber nearly every minute globally, Intuit continues to make international growth one of its key priorities. In addition to delivering localized versions of QuickBooks Online in Europe and Asia, Intuit plans to pursue the non-US accountant community with a vengeance. One of the approaches is through the Harmony toolkit designed to unify different Intuit user experiences across Intuit products, platforms, and devices.

The goal is to extend its ecosystem of more than 300,000 accountants that currently use its products (including the 230,000 that currently use QuickBooks Online for Accountants) to help it better package QuickBooks for a global audience through ease-of-use accounting, payroll, and payments features. The initial targets are users in Canada, the UK, India, Australia, and France. Users in 45 languages now run QuickBooks Online, which can handle requirements from 300 tax agencies and 560 customer tax rates. In addition to its core QuickBooks Online product, Intuit is also targeting the growing ranks of self-employed, 1099 tax-classified marketplace with its QuickBooks Online Self-Employed product.

The service, which makes it easy for the rapidly expanding population of freelancers and independent contractors to streamline their finances, is part of a broader initiative to reach the projected 43 percent of the US workforce that is expected to reshape the economy by 2020.

Intuit Inc. Risks and Challenges

After years of catering to services-based SMBs, Intuit is planning to expand into manufacturing and asset-intensive verticals. The purchase of TradeGecko will boost its inventory management capabilities. It's too early to tell how the diversification move will shape its positioning and long-term product strategies. One thing is clear, the pandemic has increased the attrition rates of its SMB customers, many of which might go under or require capital infusion in a compressed timeframe. In its latest fiscal year, Intuit reported QuickBooks Online customer retention dropping 2 points to 77%. Because of the downside risks, Intuit announced a restructuring by laying off 715 employees in mid-2020.

Intuit faces intense competition in all of the on-premise and cloud applications markets, both domestically and internationally. While Intuit is a household name in the US, it runs into a whole host of local heroes in different countries that may have established closer ties to partners and customers. At the same time, Intuit QuickBooks Advanced will be duking it out with other established vendors that are much more entrenched in the midmarket.

To attract customers, many online and mobile competitors are offering free or low-priced products that Intuit must take into account in their pricing strategies. Intuit most obvious competition comes from other companies that offer technology solutions similar to theirs. However, for many of Intuit products and services, other important competitive alternatives for customers are third-party service providers such as professional accountants and seasonal assisted tax preparation businesses. Manual tools and processes, or general-purpose software, are also viable options.

Intuit Inc. Ecosystem, Partners, Resellers and SI

Intuit sales and distributes through mobile application stores and direct sales channel, many of Intuit products and services are sold directly through their websites and call centers, and retail locations across the United States. Intuit coordinates online, offline, and retail presence and promotions to support an integrated, multi-channel, shop-and-buy model. An additional sales channel is through selected alliance partners and accountants that help to reach new customers at the point of need and drive growth and market share by extending Intuit online reach.

Intuit Inc. Cloud Infrastructure Insights

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  • Intuit Inc. Public Cloud and Infrastructure (IaaS)
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Research Methodology

Data used in research reports are derived from publicly available documents, continuous surveys of applications vendors, customers, resellers, Independent Software Vendors, systems integrators and other verifiable sources.


Vendor shares and market forecast results are based on a combination of existing databases as well as demand side and supply side research conducted throughout the year with validation from vendors, customers, channel partners and documentations such as earnings releases and 10Q and 10K filings, vertical industry studies, regional and country-level statistics from public and private institutions(i.e. colleges, universities, government agencies and trade associations).


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