Intuit unveils new solution for Indian SMBs

Broadband penetration, cloud adoption and growth of SMBs creates huge opportunity in India

Intuit, a leading provider of business and financial management solution for Small and Medium Businesses  had made available its latest solution QuickBooks Online, for Indian companies. The new solution will help Indian SMBs to make quick and informed decisions, anywhere and anytime through internet connected computer or smart phone.

According to the company, the new cloud based solution enables small businesses to create localised invoices, pay bills and track expenses without any expertise.

Nikhil Arora, Vice-President and Managing Director of Intuit India, said: “In today’s dynamic business environment, it is imperative for small business owners in India to focus on growing their business rather than accounting and bookkeeping. We want to be the end-to-end solutions provider for India’s small business ecosystem. In the next 10 years, we want one in four small businesses in India to use our products.”

Presently, QuickBooks Online has about 1. 3 million users worldwide and is available in 150 countries. With the increase in broadband penetration and the growth of SMBs in the country Intuit believes that India offers a huge potential for growth.

The company is also betting on the increasing cloud adoption by SMBs as an opportunity for its growth in the Indian markets. According to Gartner the cloud services market in India is projected to grow 32.4 per cent in 2012 to total $ 326.2 million (about Rs 1,665 crore).

Apart from the SMBs the company also believes huge opportunity in the agri sector. It has launched an SMS-based platform called Fasal that provides personalized, reliable and real-time actionable market intelligence to farmers. It provides market price information daily on the farmer’s phone.