Following our earlier post about Intuit's business potential from the planned cancellation of government tax software, we were bombarded with requests to write a review of the company.
So we sat down and wrote.
Here it is for you.
Enjoy your reading.
🔤🔤🔤🔤🔤🔤
Intuit – the empress of digital finance.
When thinking about technology companies that are changing the financial world, names like PayPal or Square might be the first to come to mind.
But there is one player – less flashy, but incredibly powerful – that runs a quiet but almost unstoppable monopoly: Intuit (symbol - INTU).
The power of routine: how Intuit became synonymous with money.
It was not built on revolutions but on a basic need: to sort out the financial mess of the average citizen and small business.
With brands like TurboTax, QuickBooks, and Credit Karma, Intuit has become a household name in every home and office in the US – literally.
Millions use it every year, willingly, and in many cases – they simply have no choice.
In terms of market share, Intuit is almost a de facto monopoly in automated financial reporting, and has incredible control over accounting software for small businesses.
Once you are an Intuit customer – it's very hard to leave.
It builds a digital wall around you – of data, convenience, and habits – that fortifies its control.
Phenomenal growth – not just in finance, but also in technology. With revenue of over $15 billion a year and operating profit growing at a double-digit rate, Intuit is a tremendous financial engine.
It acquired Mailchimp for $12 billion – and immediately integrated it into the QuickBooks system to create a combined marketing and finance powerhouse for small businesses.
The company's vision is simple: to turn every small business into a smart, autonomous, and profitable management machine.
And they do this through artificial intelligence, machine learning, and smart integrations that resemble a futuristic startup more than a conservative software company.
The Amazon deal – a real game changer.
And here comes the icing on the cake: the collaboration with Amazon.
Intuit recently announced that it will provide integrated tax services for food sellers on the Amazon platform.
The meaning: tens of thousands of sellers, sometimes lacking accounting knowledge, will receive automatic and accurate tax services – at the click of a button.
What does Intuit get out of this?
Access to tens of thousands of new customers, a direct connection with the world's largest retail empire, and a dramatic deepening of its status as an essential tool for anyone selling online.
Customer trust not seen every day. The term "customer lock-in" is almost an understatement. Intuit customers stay, and usually expand their usage.
Intuit manages to be not only essential but also beloved.
It knows not only how to manage numbers – but also how to build experiences.
With meticulous UX, excellent customer service, and a deep understanding of the small user – it has transformed from a technical solution into an almost psychological element in its customers' lives.
The future – beyond data. Intuit doesn't want to be just a software company.
It wants to become the financial brain of the small and medium-sized world.
With moves in the field of artificial intelligence (including a virtual assistant named Intuit Assist), integrations into AI and Generative AI worlds, and an expanding product portfolio – it is in a rare position:
Almost without competition, with an amazing reputation, and a high pace of innovation.
Intuit ($INTU) – we continue to follow!