Intuit (Nasdaq: INTU) and Square
today announced a seamless integration between Square and QuickBooks.
Built on Intuit’s open platform, the integration will enable small
businesses to more efficiently import their transactions from Square
into QuickBooks helping them streamline their operations, save time and
ensure accurate reporting. The offering will be available on November 19.
“By rebuilding QuickBooks as an open platform, small businesses can
choose to use services we provide as well as the solutions they already
use and love, like Square,” said Dan Wernikoff, senior vice president
and general manager of Intuit Small Business Financial Solutions.
QuickBooks, available in 100 countries, provides small businesses and
accountants with an intuitive, easy-to-use design that gives small
businesses access to a robust, open platform that is impossible to
outgrow and works anytime, anywhere online.
“Square is focused on helping businesses grow,” said Francoise Brougher,
business lead at Square. “Our customers tell us often how important it
is to have accurate and in-depth information about their business.
Integrating with QuickBooks gives sellers another powerful tool to help
them run their business more efficiently.”
Square is making sophisticated, big-business tools simple, easy to use,
and available to anyone. Neighborhood merchants of all sizes are
increasingly adopting Square Register at the counter for its intuitive
interface, smart analytics, continuous updates and simple processing
fees.
Product Availability
Intuit and Square will begin offering the integration on November 19.
Existing customers of both companies will be able to activate the
integration seamlessly, while new customers to either company will be
able to sign up quickly and easily for both Square Register and
QuickBooks. Intuit will continue to offer the full range of Intuit
Payment Solutions offerings, including GoPayment, to all of its
customers.
About Square
Square is making commerce easy for
everyone. Whether a business needs to accept credit cards, manage a full
point of sale system, or sell online, Square offers simple and
affordable tools so businesses of all sizes can start, run, and grow.
The company began with a free credit card reader for the iPhone, iPad,
and Android devices, allowing businesses to accept credit cards
anywhere, anytime, for one low, transparent rate. Square now offers a
full suite of hardware and software tools including Square
Register, Square Market, Square
Wallet, and Square Stand.
Founded in 2009, and headquartered in San Francisco, Square is currently
available in the United States, Canada, and Japan.
About Intuit Inc.
Intuit Inc. creates business and
financial management solutions that simplify the business of life for
small businesses, consumers and accounting professionals.
Its flagship products and services include QuickBooks®,
Quicken® and TurboTax®,
which make it easier to manage small
businesses and payroll
processing, personal finance,
and tax preparation and filing.
Mint.com provides a fresh, easy and
intelligent way for people to manage their money, while Demandforce®
offers marketing and communication tools for small businesses. ProSeries®
and Lacerte® are Intuit's
leading tax preparation offerings for professional accountants.
Founded in 1983, Intuit had revenue of $4.2 billion in its fiscal year
2013. The company has approximately 8,000 employees with major offices
in the United States, Canada,
the United Kingdom, India
and other locations. More information can be found at www.intuit.com.
Cautions About Forward-looking Statements
This press release contains forward-looking statements about Intuit and
Square and their respective businesses, including statements regarding
the timing of availability of products and services and the ability of
customers to access them. Because these forward-looking statements
involve risks and uncertainties, there are important factors that could
cause our actual results to differ materially from the expectations
expressed in the forward-looking statements. These factors include,
without limitation, the following: inherent difficulty in predicting
consumer behavior; consumers may not respond as we expected to
advertising and promotional activities; the competitive environment; the
ability of Intuit and Square to innovate and adapt to technological
change; business interruption or failure of information technology and
communication systems; problems with implementing upgrades to customer
facing applications and supporting information technology
infrastructure; any failure to properly use and protect personal
customer information and data; the ability to develop, manage and
maintain critical third party business relationships; increased
government regulation of our businesses; any significant offering
quality problems or delays; our inability to adequately protect our
intellectual property rights. More details about these and other risks
that may impact Intuit’s business are included in Intuit’s Form 10-K for
fiscal 2013 and in its other SEC filings, which you can locate through
Intuit’s website at http://investors.intuit.com.
Forward-looking statements are based on information as of September 24,
2013 and we do not undertake any duty to update any forward-looking
statement or other information in these materials.
The information in this press release is intended to outline our general
product direction, but represents no obligation and should not be relied
on in making a purchasing decision.
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