Finance software stack analysis : Intuit

This week we look at the Finance software stack of Intuit Inc -the makers of accounting softwares such as QuickBooks , Turbo-tax , Mint etc.

After having looked at various public sources we are almost 90% sure that Intuit doesn’t use QuickBooks as their accounting software . QuickBooks ,though a great software , doesn’t work well for massive organisations ( with 5b USD in revenue ) such as intuit.

 

The below post analyses the software stack used by Intuit’s Finance teams

Oracle eBusiness suite Intuit most likely uses this software to manage their accounting function across the world. Oracle eBusiness suite is an integrated set of business applications for automating customer relationship management (CRM), enterprise resource planning (ERP) and supply chain management (SCM) processes within organisations.

 

Cloudpay provides a global payroll solution which is compliant with various country regulatory requirements. Intuit most likely uses Cloudpay to manage the payroll for its employees in various countries it has offices in.

Concur is an expense management app owned by SAP . It allows businesses to streamline approval process for Travel and Payables. Most likely intuit uses this software to mange their employee related expenses and approvals across the world.

 

Revstream is a tool used to manage Revenue recognition . It can pull data related to orders , contracts etc from multiple sources ( ERP’s , CRM’s ,Order management portal etc) and allows you to categorise revenue into current and deferred. An analyst will everyday have to look through all the new orders & contract and set time based rules / performance rules to define and categorise the revenue

 

Versapay is a receivables management solution ( Just like PayorCRM🙂 ). Versa pay has the ability to provide Intuits customers a billing portal to view invoices and pay them.It also automates a lot of activities related to managing receivables

 

 

Zuora is a subscription billing system and works with close to 30+ gateways . We can assume that all Intuit customers using their various products will be interacting with Zuora when they setup a subscription with any of intuit products

 

Hyperion Essbase – This software can pull data from multiple data sources and provide quick reporting. Usually finance analysts use this for financial reporting purposes among others.

 

Anaplan allows you to build various reports and dashboards custom for your business . Instead of having to create a report every month for income , expenses etc , Anaplan will connect to your ERP’s and accounting systems to generate these reports.

 

 

RazorPay is a payment gateway mainly catering to the Indian market. RazorPay supports most of the payment methods in India.Intuit most likely uses RazorPay to accept payments from its Indian customers.

 

Coinbase merchants is a payment gateway that allows you to accept payments via Bitcoins , Etherium , Litecoins etc . We do not have much info on how Intuit uses Coinbase in its Finance function.

 

 

Expensify is another expense management app .It lets you scan receipts through a mobile app and extracts all the required texts from them

It also provides ghost cards / virtual cards to manage expenses. With the app you can issue one time cards with amount limits for your employees to use to pay for travel/hotel/other business related expenses.

 

Propersoft allows you to convert CSV , PDF bank statements to QB Desktop formats for upload. Not sure why/where this is used within Intuit. May be a small team within Intuit might be using this .

 

Jumio Bam checkout allows acceptance of credit card using phone camera . A credit card to be charged is placed in front of the camera and all the card details are captured to charge the card . We are not sure where Intuit uses this product most likely at some physical store or may be for trade-shows .

 

Stripe a payment gateway provider with global reach . Intuit must be using Stripe in some of the markets where they do not support local payments .

 

The above analysis was done by gathering information from various public sources. PayorCRM cannot confirm with 100% certainty that all these software products are actually in use within Intuit Finance teams.By providing this list PayorCRM is in no way endorsing any of these products or are paid to endorse them.

 

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