Intuit Inc
(NASDAQ: INTU)
58.70
+0.67
+1.15%
+0.67
+1.15%
MORE ON INTU
COMPANY INFORMATION
| Exchange: | NASDAQ national market |
| Stock: | Intuit, Inc. |
| Industry: | Software - Application |
| Employees: | 8,500 |
DESCRIPTION
| Intuit, Inc. was incorporated in California in March 1984. The Company was reincorporated in Delaware and completed its initial public offering in March 1993.It is the provider of business and financial management solutions for small and medium-sized businesses, consumers, accounting professionals and financial institutions. Its flagship products and services, including QuickBooks, Quicken and TurboTax, simplify small business management and payroll processing, personal finance, and tax preparation and filing. ProSeries and Lacerte are Intuit’s tax preparation offerings for professional accountants. Its financial institutions division, anchored by Digital Insight, provides online banking services that help banks and credit unions serve consumers and businesses with innovative solutions. It seeks to be a premier innovative growth company that empowers individuals and businesses to achieve their dreams. Its customers include small and medium-sized businesses, consumers, accounting professionals and financial institutions. It help them solve important business and financial management problems, such as running a small business, paying bills and income taxes, or balancing a checkbook. It organizes its portfolio of businesses into four principal categories: Small Business Group, Tax, Financial Institutions and Other Businesses. These categories include seven financial reporting segments. Small Business Group: This category includes three segments: Financial Management Solutions, formerly known as QuickBooks; Employee Management Solutions, formerly known as Payroll; and Payments Solutions, formerly known as Payments. Tax: This category includes two segments: Consumer Tax and Accounting Professionals. Financial Institutions: This segment consists of outsourced online services for banks and credit unions provided by its Digital Insight business. It includes its online banking and bill-pay services as well as its Personal FinanceWorks and Small Business FinanceWorks offerings, which provide comprehensive online financial management solutions for consumers and small businesses. Other Businesses: This segment includes Quicken personal finance products and services, Intuit Real Estate Solutions, and its businesses in Canada and the United Kingdom. Its QuickBooks, Consumer Tax and Accounting Professionals offerings are highly seasonal. Its main target customers are small and medium-sized businesses, consumers, accounting professionals, and small and medium-sized financial institutions. In the private sector it face intense competition from H&R Block, which provides assisted tax preparation services in its stores and a competing software offering called TaxCut, and from several other tax preparation service providers and online offerings, including 2nd Story Software’s TaxAC. Its ProSeries professional tax offerings face competition from CCH’s ATX and TaxWise offerings. It offers free self-help information through its technical support Web sites for its QuickBooks, TurboTax, Accounting Professionals and Quicken software products. The financial services industry is subject to extensive and complex federal and state regulation. Its financial institution customers, which include commercial banks and credit unions, operate in markets that are subject to rigorous regulatory oversight and supervision. |
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