Los Angeles (June 11, 2000) -- Intuit parlayed the opening session of the California Society of CPAs’ annual conference into a coming-out party for its Professional Accounting Solutions, an umbrella unit focusing on the 224,000 accounting professionals who either use Intuit products or work with clients who do.

As opening day keynote speaker, Intuit founder and chief executive Scott Cook detailed a long list of enhancements Intuit recently added or plans to add to its flagship QuickBooks accounting software, and noted that many of the changes were based on observations and input from accounting professionals over the past year.  Those changes include the introduction of vertical industry editions of QuickBooks and a report writer function.

Cook also promised product innovation based on accountant feedback, noting that Intuit customer surveys find that QuickBooks users’ satisfaction generally increases when accountants help them with projects. “We have to do things that are right for accountants. We will spend more attention on them,” he said.

After the speech, Cook elaborated on the company’s gradually increased focus on accounting professionals. “We’ve had something to build over the past year,” Cook said after his speech. “We changed, but the customer could not see it because we were building.”

Going forward, Intuit will concentrate more effort on developing and marketing QuickBooks for middle-market companies with between 20 and 250 employees. Cook said market research shows that despite its small-business reputation, QuickBooks is that market segment’s accounting software leader, ahead of competitors that include Oracle and the Great Plains product from Microsoft Business Solutions.

He also said Intuit will develop additional vertical industry editions of QuickBooks. The product is now available or will soon be available in editions for nonprofits, the construction industry, retailers and accountants

-- John M. Covaleski

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