Intuit Targets the Gig economy and gets Desired Results

Intuit, the provider of QuickBooks, Quicken and TurboTax witnessed a boom in its revenue during tax season. This year has been a true benediction for Intuit. A recent report released by them depicted a rise in their revenue of 10% thus raising it to $2.5 Billion. All of this has been possible due to their strategic focus towards small businesses and components of gig economy.

According to Intuit’s Chief Executive Officer, Brad Smith, the gig economy is a big portion of our demographic and would comprise 43% of the population by 2020. He further added, “They have to separate their personal and business expense, and then in the case of the United States, have to follow Schedule C. And so ultimately when you put that together, you say there’s a lot more of them.” Experience for these members of the gig economy hasn’t been good. Workload does not coalesce well with financial management.

For these reasons, Intuit has focused a lot towards freelancers and small business owners. Due to this paradigm shift in strategy, Intuit has also recorded unprecedented growth. This may soon come to a halt as President Donald Trump has promised to simplify tax procedures. He has even promised that in the coming years people will be able to pay their taxes just by mailing a postcard. Though there hasn’t been any action on the aforementioned promises, but once action is initiated, Intuit’s business will surely suffer.

To bring their dream of supporting the gig economy, Intuit had joined hands with giants such as Uber Technologies Inc. and Lyft.Inc. These companies have connections with colossal numbers of freelancers, contractors, and small businesses. With their help, Intuit has been able to achieve the following results:

• Subscription to QB self employed augmented to 360,000 from 180,000.

• A rise of 59% in QB online subscribers.

• 10% increase in Revenue

Benefits of using QuickBooks:

Multi User mode with Real Time Chat

Multi User mode empowers various clients to get to QuickBooks information in the meantime. These clients can be associated through various desktops and work effectively on the bookkeeping information. With the updates taken off in 2017, Intuit generously enhanced the specialized instrument accessible in QuickBooks.With the current upgrades, clients can undoubtedly speak with each other progressively. This usefulness now fills in as an inbuilt visit application which can be utilized for enhancing cooperation which performing bookkeeping exercises.

Remote Access

Clients can buy the remote get to highlight of QuickBooks Desktop/Mac. Through this component, clients will have the capacity to take a shot at their QuickBooks information at whatever time, anyplace. They will have the capacity to download or duplicate the information and roll out improvements to it in a hurry. The remote availability is controlled by Cisco which empowers a protected move of information starting with one framework then onto the next.

Propelled Reporting

Propelled revealing, as the name proposes, helps clients in making exhaustive reports in view of the information gathered in QB. Information is completely examined with inbuilt calculations. Many sorts of reports can be effortlessly made and printed, for example,

• Spending versus Actual Report

• Definite Sales Reports

• Money related Reports

• Benefit and Loss Statement

• Accounting report

• Articulation of Cash Flow

• Resource and Depreciation Report

Accordingly, this instrument can be utilized for making future techniques. The bits of knowledge picked up from these reports can likewise be utilized for diminishing expenses.

Stock Tracking and Managing Manufacturing

Outlines of Accounts can be made inside QuickBooks. Different resource and liabilities record are connected with this. From here, clients can undoubtedly track all the stock things by and by accessible. Bill of Materials can be utilized for following crude materials, congregations and subassemblies. Thusly, clients can subvert the requirement for acquiring a specific programming for overseeing both assembling and stock. Further, because of multi client mode, extensive associations can share the information crosswise over different associations. This cross association joint effort will undoubtedly build the general capability of the operations.

To know more, feel free to contact us at QuickBooks Enterprise Support number 1855-481-5338.