Trial relationship not extended to Australia.
“Intuit has teamed with Intacct, the leading cloud computing-based mid-market financial software company, to meet the sophisticated financial management and accounting requirements of companies that are stretching beyond QuickBooks,” an Intuit product page on Intacct read on its US site. http://enterprisesuite.intuit.com/products/intacct/
Although the North American-focused Intacct has several customers in Australia, the recommendation campaign was limited to the US market, said Kelly Kipkalov, a spokesperson for Intuit in the QuickBooks Enterprise division.
“We’re dedicated to supporting our customers, even those who ultimately outgrow our solutions, and through this test we hope to better understand the needs of these customers,” Kipalov said in an email. “I can’t share the details of the legal agreement unfortunately. But it’s fair to say that we’re in the early stages and can’t make a similar recommendation for Australia.”
Intacct responded to requests from BoxFreeIT with “no comment”.
Intuit listed on its Intacct product page triggers that indicated a company would benefit from moving to an ERP system such as Intacct. These included problems with reporting and analysing operating metrics; inefficient manual processes reducing productivity; running a business from spreadsheets; multi-entity, multi-currency or global businesses; real-time visibility into project costs, revenues and profitability; formal financial consolidation or compliance with GAAP, IFRS or Sarbanes-Oxley legislation.
Intuit, like Australian rival MYOB, has lacked a more powerful accounting platform for companies that have outgrown the business versions of QuickBooks. Now it is giving itself options, and this all adds up to bad news for NetSuite.
By annointing Intacct as the preferred stepping stone for its larger customers, Intuit’s actions suggests it wants to hold onto customers through an extended relationship rather than lose them to mid-market vendors such as Intacct and NetSuite.
NetSuite has made good headway as the mid-market cloud vendor of choice since enterprise vendors Oracle and SAP have been so tardy in developing their own cloud-based products. But if the Intuit-Intacct trial campaign goes well and the relationship expanded to other markets NetSuite could find itself up against a well-established, global channel of QuickBooks accountants.
Particularly since Intacct announced in December the Intacct Services Resource Planning bundle that included SalesForce.com for CRM and Clarizen for professional services automation.
Another consequence of a successful campaign is that Intuit would most likely look to buy Intacct at some stage. To date NetSuite is the only vendor that claims to have software that spans from small business to global enterprise through its JCurve Solutions experiment in Australia.
In 2010 NetSuite made US$193 million in revenues; Intuit made US$4.86 billion. I’m sure the prospect of competing with an ERP-equipped Intuit is not a pleasant one.