Tax Software Maker Intuit Rolls Out New Strategy against Uncertain Market Future

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Following its successful third-quarter sales growth, Intuit Inc., the maker of tax software leader TurboTax and duly successful QuickBooks software, aims to downsize as part of a movement towards integration of services and products offered.

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to address the changing landscape of the small business market

Last month, Intuit Inc., the company behind tax software giant TurboTax announced its "Connected Services" plan, which will be put into action this fall. The company website details three main forms of connectivity under the plan: services to software, customers to online services, and people to people. The connectivity efforts among the three areas are expected to foster more ease of use and accessibility, as banking and online accounting services like Intuit Payroll are integrated with QuickBooks and as QuickBooks Online becomes accessible by iPhone and Blackberry.

"This year, Intuit will offer products that solve even more important customer problems that go beyond accounting," promises Rick Jensen, senior vice president of Intuit's Small Business Group.

Aimed at the small business community, Intuit's Connected Services seeks to capitalize on the growth of business-to-business services and information-sharing business networks by creating a new Q&A platform/forum and a resource for contract accountants called Intuit Accountant Work Exchange.

According to the company's press release statement, the new services were created "to address the changing landscape of the small business market," which is constantly being shaped by current socio-economic conditions and the current recession.

The recession, as well as the movement towards going green, has compelled numerous small businesses to more easily embrace intra- and inter-connectivity in the form of the virtual office, which saves money and resources.    

Intuit's move towards greater connectivity is also likely influenced by probable tax reform for the 2009 tax filing season. As the tax code becomes simpler and as government makes tax filing easier, tax software is predicted by some to become a less profitable market.

With more accessibility to new services and information, Intuit is keeping abreast of the current trend of self-accounting; and for now, as per usual, commerce is keeping abreast of government in regards to tax resources.    

As of 2008, some four million users have utilized TurboTax to help them calculate their tax returns.

For additional information regarding tax preparation software, visit http://www.tax-compare.com/.

Zilker Ventures, LLC is a web publisher that consolidates information and reviews various business and financial products.

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