Monday, October 28, 2013 12:00 PM IST (06:30 AM GMT)
Editors: General: Consumer interest; Business: Accounting & management consultancy services, Advertising, PR & marketing, Banking & financial services, Business services, Financial Analyst, Information technology, Major diversified industrial groups; Technology
Intuit QuickBooks Powers Ahead in India
Sees steady customer adoption as small businesses discover anywhere-anytime accounting made easy
Bangalore, Karnataka, India, Monday, October 28, 2013 — (Business Wire India) — Intuit Inc. (Nasdaq: INTU), today announced that QuickBooks, the company’s flagship business and financial management software, has been tried by more than 50,000 small business owners in India, providing them with easy access to their finances through an internet-connected computer or data plan-enabled smartphone.
In a survey conducted by Intuit with the subscribers of QuickBooks in India, nearly 90% of the respondents agreed that QuickBooks provides anytime, anywhere accessibility as it’s a cloud based offering. About 81% of them agreed QuickBooks provides them with the benefit of automatic software upgrade feature and 74% of the respondents agreed that its easy for their employees to access through the multiple-user login feature. 76% of the respondents agreed that they have benefited from the automatic data backup feature.
Over 50% of subscribers of QuickBooks in India are located primarily in 4 cities – Bangalore, New Delhi, Mumbai and Chennai. The majority of the offering’s userbase comes from the services industry (62%), which largely comprises of Tech Startups, HR Consultants, Marketing Consultants and Travel Agents.
Underscoring QuickBooks appeal amongst the Accountant community in India, adoption in this user base has been growing at 49% over the last six months. Accountants are also playing a key role in recommending their own clients to migrate to QuickBooks.
Nikhil Arora, Vice President and Managing Director of Intuit India, said: “We are very encouraged by the traction QuickBooks has experienced in just under a year since we launched it in India. Intuit is very pleased to have had the opportunity to carry forward our longstanding legacy of working with customers to understand their needs and build solutions based on their feedback. Using this feedback, we are continuously iterating on the product to deliver on the localization needs in India. We have also run several initiatives and worked collaboratively with the government and other industry bodies to create awareness among small business owners about technology adoption. We look forward to continuing to work with and empower small businesses in their journey to success.”
QuickBooks lets small businesses easily create localised invoices, pay bills and track expenses. The easy-to-use, cloud-based service needs no professional accounting training and allows the small business owners to take data-driven business decisions on the move.
Suraj Nayak, Founder of EcoSpace and a QuickBooks user said: “QuickBooks takes care of all my accounting needs and most importantly has helped me immensely in making the right business decisions. Its comprehensive features and anytime-anywhere access helps me streamline my work. QuickBooks has taught me the essentials of managing business intelligently.”
For accountants, QuickBooks helps them collaborate with their teams better and efficiently deliver to their customers across regions. Some of the key product features that have been influencing accountants across major cities in India are online banking integration capabilities, customizable reporting and seamless collaboration. Intuit also launched a ProAdvisor Programme for accountants in India wherein they receive international certification and advanced training to provide priority support to their clients.
Intuit QuickBooks ProAdvisor, CA, Mukesh said: “Besides offering great features such as anytime-anywhere access, QuickBooks has allowed me to take better business decisions. It has also helped me grow my business by enhancing my ability to provide timely and informed advice to my clients.”
About Intuit India
Intuit is a leading provider of business and financial management solutions for small and mid-sized businesses in the country. Intuit India, the company’s first venture in Asia Pacific, commenced operations in 2005 and currently has more than 700 employees across offices in Bangalore, Mumbai and New Delhi. Intuit stands on the core principles of customer-driven innovation and improving the financial lives of its customers profoundly with product offerings such as Intuit QuickBooks in India. Intuit has been recognized as the 9th best company for Rewards and Recognition, 6th Best Employer in India, Top 10 Best Places to Work for in India by Great Places to Work Institute. For more information, please visit www.intuit.in
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®, Quicken® and TurboTax®, which make it easier to manage small businesses and payroll processing, personal finance, and tax preparation and filing. Mint.com provides a fresh, easy and intelligent way for people to manage their money, while Demandforce® offers marketing and communication tools for small businesses. ProSeries® and Lacerte® are Intuit’s leading tax preparation offerings for professional accountants. Founded in 1983, Intuit had revenue of $4.2 billion in its fiscal year 2013. 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 www.intuit.com.