Intuit (INTU) Launches Business Management Platform QuickBooks Commerce

By Dan Anderson ● September 25, 2020
  • Intuit Inc. (NASDAQ: INTU) has launched QuickBooks Commerce — which is a business management platform to help small businesses attract and sell to new customers across multiple channels and grow their business

This week, Intuit Inc. (NASDAQ: INTU) launched QuickBooks Commerce — which is a business management platform to help small businesses attract and sell to new customers across multiple channels and grow their business. QuickBooks Commerce serves as a central hub that small businesses have been looking for where they can access multiple sales channels, integrate existing ones, manage orders and fulfillment, sync inventory across online and offline channels, avoid stockouts, and get profitability insights.

QuickBooks Commerce comes at a time when small businesses need it most. And for product-based business (PBBs) to thrive, they must support how their customers want to shop whether in-store, online, or across multiple digital marketplaces all in real-time. And for most small businesses, keeping track of multiple channels is challenging to manage. 

According to a recent study, 87% of small businesses that will open in the next year will be online or a combination of online and offline, but 84% of PBBs selling in multiple channels still reconcile inventory using pen and paper or spreadsheets. And 50% are afraid to add another channel because of the operational complexity. In a recent survey, 76% of small businesses said that they are going to love to have a one-stop shop from which they could manage everything related to their business finances.

QuickBooks Commerce is known as an open platform so small businesses can integrate existing channels while expanding to new ones and have it all managed within QuickBooks. And QuickBooks Commerce connects with marketplaces, websites, and sales system providers to provide a diverse array of options suited to the needs of all small business owners no matter where they sell. E-commerce partners cover a wide range of online and in-person sales options, including collaborations with Amazon, ShopKeep, and Squarespace.

QuickBooks Commerce is going to make it easier for both existing and new sellers, including brick-and-mortar businesses to sell on Amazon’s store thus reducing complexity in managing their sales. And sellers using Amazon’s fulfillment capabilities to sell in the Amazon store or on other e-commerce websites can utilize QuickBooks to manage their cross-channel sales so they can focus on growing their business.

When used with QuickBooks Online and the rest of QuickBooks’ suite of tools, QuickBooks Commerce becomes the one-stop shop small businesses need — which is a comprehensive digital platform to centrally run and manage their business.

KEY QUOTES:

“Attracting and managing customers across multiple sales touchpoints is vital to small business survival — especially now. Meeting customers where they are is the new expectation, but small businesses are not set up or resourced to manage this complexity effectively. QuickBooks Commerce helps small businesses grow by helping them sell across more channels while reducing the time they spend on operations.”

— Alex Chriss, EVP and GM of QuickBooks

“The small and medium businesses that sell in our store are incredibly important to Amazon and our customers, and we’re on track this year to invest $18B in logistics, tools, services, programs, and people to help them succeed. We welcome efforts from companies like Intuit that give selling partners using Multi-Channel Fulfillment even more options to grow their business on and off Amazon.”

— Abhi Tiwari, Director, Multi-Channel Fulfillment, Amazon

“ShopKeep is a cloud-connected point-of-sale and commerce platform that empowers independent merchants to thrive in the modern economy by providing them with the tools to intelligently manage and grow their businesses. Especially today, our customers must be in a position to serve their customers wherever and however they wish to engage: in-store, online, and via third party retail marketplaces and online ordering services. Partnering with QuickBooks Commerce enables our customers to easily manage and consolidate order management and fulfillment across all of these channels.”

— Michael DeSimone, Chief Executive Officer at ShopKeep

“Squarespace is an all-in-one website and e-commerce platform for anyone to build a standout brand and sell online. Our partnership will allow businesses selling across multiple channels to quickly set up a premium e-commerce website that is fully integrated with QuickBooks Commerce, providing an easy way to manage complexities in a single centralized interface.”

— Natalie Gibralter, VP of Commerce at Squarespace