PracticePeople In PracticeIntuit moves into mid-market

Intuit moves into mid-market

Intuit UK managing director Stephen Lee today revealed the SME software vendor was planning to expand into the mid-market.

Lee was speaking as Intuit bosses in the US outlined plans to for the company, including a ‘right for my business’ strategy to better address small business management. Currently, Intuit produces QuickBooks and Quicken – accounting software for small businesses – and has been challenging Sage’s dominance in that market.

‘We are excited by the opportunities in the small and medium-sized UK business accounting software markets,’ said Lee.

‘Our immediate plans in the UK will be to concentrate on building on oursuccess in the UK small business accounting software market. We lookforward later to exploring the great opportunities that exist in taking oursuccessful proposition of accessible and well-featured software to themedium-size market,’ he added.

The company’s right for my business strategy involves three strands. The first is for it to deliver industry-specific solutions to industries such as construction and retail.

The second element is developing accounting solutions for biggerbusinesses, while the third is to expand beyond accounting software, and offer additional business management tools and services.

San Francisco-based Intuit last month reported losses in both its fourth quarter and annual results, despite healthy increases in revenue.

Links

Intuit in the red despite sales growth

Challenge to Sage dominance

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