Intuit Launches Intuit Enterprise Suite

Intuit has a new product offering that seeks to unify many of the features of its extant tools into a configurable suite of solutions.

Intuit announced the Intuit Enterprise Suite on Wednesday, September 18, 2024. This product is designed to help businesses streamline operations, empower decision-makers, and scale sustainably and efficiently. It is part of Intuit’s ongoing efforts to expand its offerings beyond individual users and small businesses by providing comprehensive solutions for enterprise-sized customers.

A comprehensive platform

The Intuit Enterprise Suite is a unified, scalable solution designed to address the needs of growing businesses in various industries holistically.

Financial management

The Intuit Enterprise Suite provides financial management—including accounting tools—that allow users to prepare consolidated or individual financial statements, handle inter-organizational transactions, and monitor business performance with reports and real-time dashboards.

The suite also leverages artificial intelligence (AI) to automate specific features, including:

• Profit and loss forecasting
• Cash flow management
• Budgeting

Industry-specific performance insights

The suite provides tools that users can tailor to deliver business performance, project management, and financial data reports based on their unique needs, all in one place. Intuit Enterprise Suite’s tools can track projects in real-time with custom KPIs, using AI to sync employee data with estimated targets against historicals and flag off-target projects. It also provides recommended actions to help get projects back on track.

These KPIs can even be tailored to the dynamics of specific industries, including:

• Project-based businesses
• Service businesses
• Construction
• Non-profits

Customer engagement

Intuit Enterprise Suite incorporates Mailchimp technology, integrating marketing and customer engagement tools with its financial solutions. These solutions allow users to find, retain, and manage customers through email and SMS campaigns while using customer data from QuickBooks to highlight potential revenue opportunities.

The suite also features tools to build and segment customer journeys while managing different audiences using AI tools.

Compliance and HR

The suite includes a human resources information system (HRIS) and payroll features that can allow users to simplify payroll with integrated time-tracking features and automate onboarding processes for new hires. It can also consolidate access to information about benefits, including:

• Healthcare (provided by Allstate)
• Retirement (administered by Guideline)
• Worker’s comp (via NEXT Insurance)

Additionally, the suite can help businesses stay compliant by improving the accuracy of its financial processes with:

• Automated payroll tax calculations
• Deductions
• Filings

According to the press release, Intuit plans to add additional functionality in the near future that will leverage AI to detect errors.

Streamlined bill payments

Intuit claims that the new suite will enable businesses to get paid “four times faster” (based on data from U.S. customers using QuickBooks Online invoice tracking and payment features, compared to customers not using these features, from Aug 2022 to July 2023).

With the new suite’s billing features, users will be able to:

• Access “instantly payable” accounts payable and receivable automation and reconciliation across entities
• Set up automatic invoice reminders and approvals
• Handle payment issues with dispute protection
• Accept payments on the go
• Create estimates

Customer support

As with many of its products, Intuit Enterprise Suite will provide users direct access to customer success managers. These dedicated support specialists will provide guided setup, training, and coordinated services to help users of the suite identify features that can help meet the needs of their business.

Growth, scalability, and flexibility

The Intuit Enterprise Suite is designed to neatly fit various roles of businesses in multiple industries, regardless of where they are in their development. The suite is designed to be scalable and integrate with third-party tools to adapt to existing workflows, allowing it to evolve with businesses as their challenges change over time.

As the business world continues to become more complex and competitive, organizations across industries require access to increasingly sophisticated solutions. Addressing these needs can quickly lead to tech sprawl as firm leaders add multiple tools to their company’s tech stack.

With the rollout of its new Enterprise Suite, Intuit is positioning itself as a leading provider of integrated tech solutions for businesses, pushing the capabilities of automation technology to create streamlined solutions for growth and scalability while staying compliant with local and international laws and regulations.

Developing story

Check back here for more in-depth coverage of this new product on both The Woodard Report blog and the podcast as this story develops.

Disclosures

Some content (including graphics) within this feature is based on Intuit media source materials. Some referenced products may be registered trademarks of Intuit® Inc., a publicly traded corporation headquartered in Mountain View, California. Content adapted or referenced by The Woodard Report from Intuit sources is furnished for educational purposes only.