Mid-market product innovation: Intuit Enterprise Suite
Your firm can capably serve even larger clients with more complex needs with the introduction of Intuit Enterprise Suite, designed to meet the needs of growing businesses, including those with multiple entities, multi-dimensional reporting, and intercompany journal entries. The cloud-based platform operates with the robust features of an ERP, but at a more accessible price. Intuit Enterprise Suite is the ideal fit for QuickBooks Online Advanced users who need to manage more complexity, or QuickBooks Enterprise Desktop users ready to move to the cloud with next-level service and capabilities. Intuit Enterprise Suite is how a growing business keeps on growing.
"We're excited to break into the mid-market with Intuit because clients like to stay with their existing product,” said Christine Hoke, manager of Managed Services and Outsourcing at Rehmann.”This new product will allow them to get the features they need without the need of changing software. This drives mutual success."
Intuit Enterprise Suite is best for complex single-entity and multi-entity companies with service- and project-based businesses, and particularly well-suited for the construction, nonprofit, and professional services industries. As the Intuit team builds out more features, Intuit Enterprise Suite's target base will be expanded to include other industries. Accountants can continue to access their clients' accounts through QuickBooks Online Accountant, with the added innovation of addressing every entity via a drop-down menu in a single tab.
"I feel that the Intuit Enterprise Suite will help drive profit internally because we're working on a software that we're familiar with working with," said Sharon Berman, principal, CAS, at Rehmann. "We'll be able to standardize around that software to provide ongoing routine accounting services, but with the workflows and the templates available in that software, we'll be able to streamline all of the accounting work and really focus on advisory."
Knowing that businesses are more likely to succeed with an accountant on their side, Intuit Enterprise Suite enables more automations, reporting, and expert service access to allow accountants to do their jobs efficiently and spend more time in valuable strategy and advisory roles.
Some of the top Intuit Enterprise Suite capabilities that accountants are excited about include the following:
- Driving clients' profits with real-time insights via multi-entity and multi-dimensional reporting, job costing, and project profitability.
- Boosting productivity with automation to reduce steps, eliminate manual integrations, and spend less time on mundane tasks.
- Managing everything in one place to minimize overhead costs and connecting third-party apps with ease.
- Setting clients up for success with top-tier customer onboarding, training, and support.
"The detailed reporting and forecasting tools in Intuit Enterprise Suite give us the ability to provide more insightful financial advice to our clients, which directly enhances the value of our services and supports higher profitability for both our clients and the firm," said Teresa Hendrickson, consulting manager at Hogan Taylor.
Intuit Enterprise Suite pricing is customized for each subscription based on the entities, features, users, and add-ons the client chooses. To thank accountants who refer clients to Intuit Enterprise Suite, Intuit is offering $1,500 for every new signed contract. To qualify, you must be enrolled in the ProAdvisor revenue share program. Then, simply sign into QuickBooks Online Accountant and fill out a client referral form.
Security innovation: Role-based access controls
New in 2024 is a major innovation to better serve the security and integrity of your clients' data. Firms can now separate and delegate duties more effectively with enhancements to role-based access controls in your firm's and clients' books in QuickBooks Online Accountant. QuickBooks Online Advanced and QuickBooks Online Payroll have been updated with custom roles and even more granular permission settings, such as an HR manager role for job-based access. Avoid unauthorized access to financial data without relying on a primary administrator to handle tasks such as payroll.
Intuit Enterprise Suite takes role-based access to a new level with predefined roles and a fixed set of permissions and features, including new project manager and bookkeeper roles. Roles and permissions can also be managed across multiple entities, and they can be created with specific permissions and transaction types.
Cash flow innovations: AI and ease of invoicing, access to credit, and payment revenue share
As the lifeblood of every business, cash flow is top of mind for Intuit in 2024. Key innovations have sped up the invoicing process, helping business owners get money in the bank more quickly. Among these innovations include the following:
- The addition of payment dispute protection—up to $10,000 per year—for QuickBooks customers' credit and debit card transaction disputes.
- Advances in Intuit Assist, the AI assistant that can speed up the quote-to-cash process by generating a quote from a client meeting using photos in the QuickBooks mobile app, converting the estimate into an invoice, and drafting reminder emails for payments.
- Digitization of B2B workflows through QuickBooks Bill Pay and the QuickBooks Business Network, allowing customers to connect directly with other businesses to send and collect payments.
QuickBooks customers can also tap into additional funding to aid their cash flow when they need it through QuickBooks Line of Credit¹. Businesses get access to fast, flexible funding from $1,000 to $50,000, with loans issued by WebBank. Business owners can draw from their available credit limit to support business growth, pay expenses, or get an advance on eligible unpaid invoices. And they can do it without fees, only paying interest on the amount borrowed.²
Intuit also introduced a new QuickBooks Payments revenue share for accountants, based on their clients' cash flow. Accountants in the ProAdvisor Revenue Share Program can sign up their clients for QuickBooks Payments and earn 20% of net revenue from the payment processing fees for those clients for three years. Clients also get a discount savings of up to 25% of their processing fees.
Accountants continue to drive Intuit innovations
This is only the beginning of the innovations for mid-market businesses, derived with invaluable feedback from the Intuit accountant community. As part of the comprehensive product plan for Intuit Enterprise Suite, Intuit will be releasing additional features to benefit your firm and your clients over the next several months.
Ready to dig further into the innovation? Your next step is to schedule a consultation with a member of our team on Intuit Enterprise Suite.
Get more information on the $1,500 bounty for every new signed Intuit Enterprise Suite contract.
¹QuickBooks Line of Credit: QuickBooks Line of Credit loans are issued by and subject to approval by the lender, WebBank. Each invoice advance and each cash draw is a separate, closed-end term loan that has its own loan amount, interest rate, and payment terms.
²No fees: No origination fees applicable to new QuickBooks Line of Credit customers. Interest will apply. Rates vary and depend on applicant’s credit profile and other factors. Standard payment processing fees apply.
