The company’s CEO Sasan Goodarzi signaled that likelihood this week during company’s webcast for earnings for the second quarter ended January 31. Goodarzi noted that the product is currently focused on companies with 10 to 100 employees. “Frankly, we believe that we can even go higher in the market beyond 10 to 100 employees,” he said. “as we see the power of our platform and the ability for us to scale, we believe that we can actually serve even bigger mid-market customers at a disruptive price.” He provided no information on when Intuit might make such a move. Separately, the company has noted on its Firm of the Future website features from Advanced will be brought to QBO Accountant in a phasee rollout. Intuit hopes to conclude the rollout of Advanced features to those with QBOA subscriptions by the end of April but will not migrate any subscriptions between April 1 and April 15. Intuit has not disclosed the number of Advanced subscriptions or QBES units sold but over the last two years, QBES sales helped grow desktop units and subscriptions for QuickBooks overall. However, QB desktop revenue dropped to $160 million for the most recently ended quarter, down 3 percent from $165 million a year earlier. Despite the migration to the cloud, the last time desktop revenue declined year over year was for the third quarter ended April 30.
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QB ADVANCED TO GO UPMARKET? Featured
Intuit appears likely to take QuickBooks Advanced further upstream in the mid-market. Advanced is the company’s online entry for that segment with QB Enterprise Solutions as its desktop entry for the mid-market.
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