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INTUIT: FRONT OFFICE AS THE FRONT DOOR
While one of Intuit's claims to fame is its accounting product, QuickBooks, the company is enunciating a new way to get more customers into the back office. And that's by the front office. The company sold more units of QB for the year ended July 31, but that came through heavy discounting.
At this week's Credit Suisse Technology Conference, CEO Brad Smith talked about the company's strategy for pushing pricing up. And that involves selling small business products such as Web sites and CRM software. "Get a Web site and down the road, we can sell you accounting, but at less discounted pricing," was the way Smith described the strategy to attendees. He noted that in the first quarter Intuit began TV advertising of its Web site construction services, built on the Homestead Technologies business acquired late in 2007,and had seen a 45 percent increase in revenue. Another way to get customers to QB is through its PayCycle payroll services. "We are moving into the front office," said Smith. "Before they [customers] figure out how to use their books, they have to have something to put into their books." There will also be an increased use of financial institutions in reaching end users with payroll and accounting products.
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