Intuit unveils small business strategy, acquisition
MOUNTAIN VIEW, Calif., Sept 24 (Reuters) – Intuit Inc.(NasdaqNM:INTU – news), maker of popular personal finance software Quicken, on Monday unveiled a plan to better serve the programming needs of small businesses and said it would buy OMware Inc., a provider of business management software for construction companies, for $42 million in stock.
Intuit also reiterated its forecast for fiscal first quarter and 2002 operating income and revenue growth.
Mountain View, California-based Intuit said it is readying higher-priced, industry-specific versions of its QuickBooks software for businesses with more than 25 employees.
The company reiterated its outlook for fiscal 2002 pro forma operating income growth in the 25 percent to 30 percent range and revenue growth in the 15 percent to 20 percent range.
Intuit also reiterated its outlook for first quarter revenue between $200 million and $210 million and a pro forma operating loss of between $60 million and $63 million.
Intuit Announces Inaugural Participants of Intuit Developer Network Small Businesses Will Have Choice of Industry-Specific and General Business Applications That Exchange Data with QuickBooks Pro & Premier 2002 – MOUNTAIN VIEW, Calif.–(BUSINESS WIRE)–Sept. 24, 2001– Intuit Inc. (Nasdaq:INTU – news) today announced the names of 41 software developers who will be the first to enable key data exchange between their business and industry-specific applications and the next version of QuickBooksÆ Pro, Premier and Premier Accountant Edition expected to be released in December. These applications will take advantage of the Intuit Developer Network and the QuickBooks software development kit (SDK). The developer network and the resulting applications will allow small businesses to exchange certain data between their critical business applications and enabled versions of QuickBooks.
Intuit Announces Strategy to Tackle $17 Billion Small Business Management Opportunity “Right for My Business” Strategy Focuses on Meeting Unique Needs of Each Small Business
MOUNTAIN VIEW, Calif.–(BUSINESS WIRE)–Sept. 24, 2001–Intuit Inc. (Nasdaq:INTU – news), maker of QuickBooksÆ software, QuickBooks payroll services and related small business management solutions, today unveiled its new “right for my business” strategy to better address the $17 billion(1) small business management opportunity. Intuit’s focus is to be the right solution for every small business by providing tools and services that address the unique needs of each small business.
The company’s “right for my business” strategy has three elements. The first element is delivering industry-specific solutions that meet the specialized requirements of vertical segments, such as construction and retail. The second element is developing accounting solutions for bigger businesses and more complex businesses. The third element is the continued expansion beyond accounting software to offer additional business management tools and services.
“We are and intend to remain the engine that powers America’s small business success,” said Steve Bennett, president and CEO of Intuit. “Every business is unique. We plan to address the different needs of those unique businesses with a host of new offerings.”