Company Working to Improve Financial Outcomes for Entrepreneurs
Company Website:
http://www.intuit.com
WASHINGTON -- (Business Wire)
Intuit Inc. (Nasdaq: INTU) CEO Brad Smith will meet with President
Barack Obama on Friday to discuss how big business and government can
work together to support small business. Smith will join other leading
executives at a roundtable discussion during which the companies will
champion new ways of helping finance small businesses to help them grow
and succeed.
Smith will sign the White House’s Small Business Supplier Financing
Pledge, committing Intuit to taking active steps to lower the working
capital costs of small business suppliers. Ten percent of Intuit’s
suppliers are small businesses. As part of this commitment, Intuit
agrees to pay its small business suppliers within 10 days of receiving
an invoice, putting more money, more quickly into their bank accounts.
“Whether it’s our products or initiatives like today’s roundtable,
Intuit is committed to providing small businesses with the resources and
tools they need to improve their financial lives,” said Smith. “Cash
flow is important to small businesses. We want to simplify that for
them.”
Providing Tools for Small Businesses Success
The White House event comes as the Intuit QuickBooks Online ecosystem
continues to evolve from the world’s number one small business channel
to the world’s small business operating system – an open platform that
was redesigned from the ground up to help small businesses get the most
out of the cloud. Small businesses can now connect to hundreds of apps
to help them do everything from managing customers and expenses to
paying employees and managing inventory.
“The exciting part about being a company that has been serving small
businesses for more than 20 years is that we know what it takes to grow
and evolve," said Smith. “Today, with our open platform, that growth is
being dramatically accelerated. Developers are working every day to add
new apps to make it even easier for small business owners to rise to the
next level.”
In the past two months, Intuit has announced major integrations with
global cloud-based leaders such as Vend (point-of-sale), ZenPayroll
(employee payroll), and Lettuce (inventory management).
Fast Facts
The QuickBooks Online ecosystem:
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Added more than 60,000 QuickBooks Online subscribers in the quarter
ended April 30, a 35 percent increase over the previous quarter.
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Available in 124 countries and translated in 12 languages.
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Last year, small businesses used QuickBooks Online to:
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Create 81 million invoices.
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Manage more than 1 million new employees.
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Establish 29 million relationships with vendors.
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Receive over $1 trillion in commerce globally.
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Serve 24 million new customers.
Resources:
Brad Smith’s Linked Columns:
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.
Contacts:
Intuit Inc
Steve Sharpe, 650-224-2362
stephen_sharpe@intuit.com
or
Access
Communications
Jen Garcia, 415-828-2514
jgarcia@accesspr.com
Source: Intuit Inc.
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