Thursday, September 20, 2012:
From Austria to Zimbabwe, small businesses globally for the first time can easily create localized invoices, pay bills and track expenses with the availability of QuickBooks Online , from Intuit Inc. (Nasdaq: INTU), the makers of QuickBooks and provider of connected services trusted by more than 60 million customers.
"The entrepreneurial spirit is alive and well around the world, and a critical part of the global workforce and gross domestic product," said Alex Lintner, President of Intuit's Global Business Division. "With QuickBooks Online becoming available globally, we can now help the 29 million small businesses in the U.S., as well as the more than 500 million small businesses worldwide effectively manage their operations and achieve financial success."
QuickBooks Online financial software offers an affordable and powerful cloud solution that is optimized for around-the-world use. Currently, more than 360,000 small businesses are using QuickBooks Online. Since its beta rollout in July 2012, small businesses in 130 countries have started using the product.
Intuit's commitment to harnessing the power of many is part of the company's evolving connected services strategy, which was outlined by Intuit CEO Brad Smith at the company's annual Investor Day on September 18th.
Customized for Local Impact
Participation-driven innovation is at the heart of the QuickBooks Online platform, which is built to be flexible so customers can make it fit the needs of their businesses and their country. This allows nationals worldwide the opportunity to optimize QuickBooks Online with their home country's currency, date and number format as well as accounting scheme. Additionally, QuickBooks Online can handle sales taxes for any country and includes a translation tool so customers can use the solution in their home language, making QuickBooks Online truly specific to each country's culture and way of doing business.
"The QuickBooks Online platform allows for customer configuration, user-defined tax rates and country-specific interactions that make a small business in the Philippines, for example, feel like QuickBooks Online has been developed explicitly for their country," said Dan Wernikoff, Senior Vice President and General Manager of Intuit's Financial Management Solutions Division. "Highly customizable content makes QuickBooks Online local everywhere, helping the world's small businesses and accountants quickly get set up and running their business anywhere in the world."
Focused on the common needs of small businesses around the world, QuickBooks Online gives an intimate portrait of the business all in one place so small businesses can focus on their passion of helping customers and growing their business. Through QuickBooks Online small businesses can:
-- Help save time on common finance tasks, such as invoice creation, managing sales tax and organizing sales receipts.
-- Get set up to be paid faster with tools to help centralize income forms (estimates, invoices, sales receipts, etc), summarize totals for due or past due transaction items as well as tips to help take immediate action.
-- Easily track customers, orders, income and expenses so a small business can always see where it stands.
-- Gather all tax relevant information in one place to avoid tax time headaches.
-- Leverage the power of the cloud via a mobile device to stay on top of finances while on the road.
-- Get in-depth business insights with reporting tools that analyze their business and industry trends to help them move their business forward.
QuickBooks Online India
Intuit started the beta rollout of QuickBooks Online ( www.quickbooksonline.in ) in India in late 2011. With around 2 million broadband-connected small businesses, India offers huge growth potential for cloud-based services. QuickBooks Online complies with Indian norms and accounting formats with support for local tax compliance for VAT and Service Tax. Over the one-year period, Intuit India has engaged with over 5000 small business owners and over 700 accountants, through in-depth customer research and interactions, events, product demos and trials.
We are seeing good adoption among service-based businesses; especially the IT services companies, advertising, design companies and other knowledge service providers. The feedback received has been extremely positive on benefits such as anytime - anywhere access, data security, ease of use and simplified financial management.
Gladson Soans, Director of Purple Stone Entertainment - an emerging event management agency in Mumbai, and user of QuickBooks Online since July 2012, says, "I am a great believer in the power of technology to improve business efficiency. QuickBooks Online is a great solution for entrepreneurs to manage their finances in a hassle-free way. I use it as an easy, one-stop platform to handle all monetary business functions such as creating quotations and invoices, managing client database, etc. This product has helped me approach my business operations more professionally, building on my clients' relationship."
"QuickBooks Online is a really simple yet powerful software with outstanding reporting capabilities. For my clients, this can be a simple and affordable business financial management solution. It also helps me serve them better and stay connected to their business," said leading Chartered Accountant Khanjan Chhaya, Partner, KCJM & Associates.
According to Nikhil Arora, Vice President and Managing Director, Intuit India, "In today's dynamic business environment, it is imperative for small business owners in India to focus on growing their business rather than accounting and bookkeeping. QuickBooks Online was developed to function like their true business manager providing the right insights to take quick data-driven business decisions."