Estimated reading time: 1 minute, 18 seconds

QBES SHOWS STRENGTH Featured

Brad Smith, IntuitIntuit has not said much about QuickBooks Enterprise Solutions in a long time. That changed this week when CEO Brad Smith gave it a strong endorsement during his company's earnings webcast for the first quarter ended October 31.

"It is a fast-growing product," Smith said, noting while the sale of desktop units fell from last year's corresponding quarter, revenue rose by 27.9 percent because of QBES. Smith said Intuit continues to make "appropriate" investments in QBES, which he describes as about "35-percent cheaper than anything else in our market." However, the company is also grappling with taking the product to the cloud. "We hope to have an alternative to QuickBooks Enterprise in the online version," he said, but noted, "That is going to take some time,"Smith noted that the company's purchase of sales and use tax company Exactor last month as part of the efforts to beef up QB Online. "Sales-and-use tax is a key feature you need in an enterprise-level product," Smith said. "That is one example of what we are doing to build out that functionality in QuickBooks Online." Executives provided no estimate of when such an application might reach the market. For the most recently ended period, there were 120,000 QB desktop units sold, down 34.4 percent from 183,000 a year earlier. QB desktop subscribers totaled 359,000, an 8.1-percent increase from 332,000.  For a while, QBES has received little attention and its channel none in terms of publicity. For example, efforts to get the names of channel award winners have been ignored or stonewalled for a few years now. Maybe that will change.

Read 1449 times
Rate this item
(0 votes)

Visit other PMG Sites:

PMG360 is committed to protecting the privacy of the personal data we collect from our subscribers/agents/customers/exhibitors and sponsors. On May 25th, the European's GDPR policy will be enforced. Nothing is changing about your current settings or how your information is processed, however, we have made a few changes. We have updated our Privacy Policy and Cookie Policy to make it easier for you to understand what information we collect, how and why we collect it.