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QBES GROWING REVS, SHARE Featured

Brad Smith, IntuitIntuit says QuickBooks Enterprise Solution continues to grow. The company did not provide  numbers, but CEO Brad Smith said during this week's earnings webcast for the year ended July 30 the desktop product is growing customers, market share and revenue.

Smith did not address an analyst's question that led to his response—if Intuit plans a cloud version of QBES. Instead, Smith said QBES is continuing to disrupt the market. "We are 30-percent cheaper [than the competition]," he said. He continued that "the product and net promoter scores continue to get better." It is QBES that keeps the sales of QB desktop "slightly positive," he commented. Smith must have meant the sale of desktop subscriptions as the sale of desktop units fell 6.8 percent to 891,000 for fiscal 2017, down from 956,000 a year earlier. QB desktop subscriptions increased 8.4 percent to 356,000 for the most recently ended year from 326,000 for fiscal 2016. Does that mean QBES desktop subscriptions increased by at least 30,000 units of QBE is keeping the category positive? The desktop to online switch also shows in payroll with the 926,000 payroll customers on June 30 down 4.5 percent from 970,000 in fiscal 2016. There were 540,000 online payroll subscribers, up 12.2 percent from 474,000 the prior year. Once the company broke out QBES numbers by reporting those on active maintenance plans, but stopped dong that a few years ago. It has not said much about the product in the last two years and never talks about its channel. All efforts I have made to obtain from the company the names of resellers winning awards have failed.

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