Intuit Inc. announced that QuickBooks®: Online Edition has 110,000 subscribed companies, with more than 270,000 individual users. This more than 400 percent increase, from 21,000 companies in 2004, makes QuickBooks Online the leading software-as-a-service financial management tool for small business. The rapid growth reflects QuickBooks Online’s path in ushering in a new software-as-a-service era focused on serving small business needs.
The success of QuickBooks Online results from its ability to combine the hallmark ease of use of QuickBooks desktop software with the flexibility of a software-as-a-service model. QuickBooks Online lets small business owners easily start managing their finances with an intuitive workflow and easy-to-understand language, such as “Money In” instead of “Accounts Receivable.” Users also have the freedom and flexibility of anywhere, anytime access, easier collaboration with employees working remotely, and features that automatically work around the clock such as online banking, reoccurring billing, backup and updates.
Should questions arise, QuickBooks Online’s innovative customer support system saves time by letting business owners submit questions online and receive a quick call back with the right answer. As their needs change, QuickBooks Online users can also access a family of Intuit small business offerings such as Online Payroll or Merchant Account Services as well as tap into a supportive community of 250,000 accountants and millions of like-minded entrepreneurs.
As a result, QuickBooks Online has revolutionized the lives of thousands of small business owners who can’t imagine life without it. In fact, on average a QuickBooks Online user has recommended the product nearly four times in the last year. And, with the proliferation of broadband Internet, QuickBooks Online’s rapid growth is expected to continue as more small business owners feel comfortable using software-as-a-service tools.
“Small businesses are beginning to appreciate the benefits of software as a service, which lets them pay for what they need, and can add capabilities with ease,” said Merle Sandler, senior research analyst at IDC. “This avoids initial license fees which helps cash flow. In addition, small firms typically don't have IT staff to help with the installation and maintenance of software, leaving small business owners free to concentrate on running their businesses. ”