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INTUIT OUT TO CRUSH COMPETITION Featured

Sasan Goodarzi, IntuitIn a broad presentation of new products and discussion of strategy, Intuit executives this week outlined plans to dominate their markets; that’s even more than they now do in consumer and professional tax software and low-cost accounting. CEO Brad Smith pledged “to allow no U.S. beachhead” in accounting software in remarks made during this week’s Investor’s day. Smith made that comment – obviously aimed at Xero – after noting the introduction of wholesale QuickBooks pricing for Pro Advisor.

The company also wants to prepare 50 percent of all tax returns,  consumer and professional. Currently, the pro level is 37 percent, up from 35.5 percent in 2013. “Our goal is we will do 50 percent in the next several years,” said Sasan Goodarzi, the SVP who runs the consumer tax group. He did not say how many years. Beyond that, he continued, “Our vision is to make tax preparation obsolete.” That means having data automatically entered into returns, probably a stretch goal. He also said Intuit intends to “win at ACA (healthcare)” and the company will go after the self-employed workers. A product in that arena was apparently shown onsite during the Investor’s Day presentation, but was not discussed in detail on the webcast and the company's public relations department says there is no plans to issue a press release about it. However, since mid-September, QuickBooks Self-Employed has been offered for $9 a month, except it is $9 for the first  year 

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