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TheStreet Open House

QuickBooks Online Goes Global

Stocks in this article: INTU

From Austria to Zimbabwe, small businesses globally for the first time can easily create localized invoices, pay bills and track expenses with the availability of QuickBooks Online, from Intuit Inc. (NASDAQ: INTU), the makers of QuickBooks and provider of connected services trusted by more than 60 million customers.

“The entrepreneurial spirit is alive and well around the world, and a critical part of the global workforce and gross domestic product,” said Alex Lintner, president of Intuit’s Global Business division. “With QuickBooks Online becoming available globally, we can now help the 29 million small businesses in the U.S., as well as the more than 500 million small businesses worldwide effectively manage their operations and achieve financial success.”

QuickBooks Online financial software offers an affordable and powerful cloud solution that is optimized for around-the-world use. Currently, more than 360,000 small businesses are using QuickBooks Online. Since its beta rollout in July 2012, small businesses in 130 countries have started using the product.

Intuit’s commitment to harnessing the power of many is part of the company’s evolving connected services strategy, which was outlined today by Intuit CEO Brad Smith at the company’s annual Investor Day.

Customized for Local Impact

Participation-driven innovation is at the heart of the QuickBooks Online platform, which is built to be flexible so customers can make it fit the needs of their businesses and their country. This allows nationals worldwide the opportunity to optimize QuickBooks Online with their home country’s currency, date and number format as well as accounting scheme. Additionally, QuickBooks Online can handle sales taxes for any country and includes a translation tool so customers can use the solution in their home language, making QuickBooks Online truly specific to each country’s culture and way of doing business.

“The QuickBooks Online platform allows for customer configuration, user-defined tax rates and country-specific interactions that make a small business in the Philippines, for example, feel like QuickBooks Online has been developed explicitly for their country,” said Dan Wernikoff, senior vice president and general manager of Intuit’s Financial Management Solutions division. “Highly customizable content makes QuickBooks Online local everywhere, helping the world’s small businesses and accountants quickly get set up and running their business anywhere in the world.”

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