Intuit has outlined a connected services strategy that builds on the company’s position in cloud-based services, and provides mobile and data services for consumers and small businesses.
Its evolving growth strategy includes three key elements – awesome product experiences, enabling the contribution of others and using data to delight – says Intuit.
Intuit plans to create more stand-alone mobile applications like Snap Payroll, and Intuit Fasal (offered in India). The second strategic element includes tapping into the innovations and contributions of customers, partners and third-party developers. Examples include Intuit live communities, the Partner Platform, and QuickBooks Online. The third strategy involves harnessing the collective data that flows through Intuit’s ecosystem. Building on this, Intuit aims to deliver data-driven insights for its customers, like Mint’s Ways to Save, and QuickBooks Online Trends feature.
Four years ago, about 17 million people used products hosted on Intuit servers, contributing about half of the company’s revenue. Currently, 45 million customers use Intuit’s connected services offerings, generating almost two-thirds of the company’s revenue.
Intuit estimates that more than $100 million in fiscal 2012 revenue came from products that didn’t exist three years ago, a 10-fold increase from two years ago.