Back to top

Image: Bigstock

Intuit Overhauls QuickBooks ProAdvisor Program to Aid Growth

Read MoreHide Full Article

Intuit Inc. (INTU - Free Report) recently announced the launch of the redesigned QuickBooks ProAdvisor Program in the United States, Canada and Australia.

ProAdvisor Program is a collection of tools, software and resources designed to help accounting professionals grow their practice with all that they need to support clients. 

Moreover, the company’s all-in-one ProAdvisor portal  — QuickBooks Online Accountant —provides accounting professionals with access to all Desktop and Online ProAdvisor benefits to manage their entire practice from just one place.

Reportedly, the latest upgrade, built into QuickBooks Online Accountant, has been done by taking into members’ feedback into consideration and research on global accounting trends.

Intuit’s management was quoted saying, “The goal of the ProAdvisor Program is to provide support for our accounting partners so they can accelerate their growth within Intuit’s ecosystem. With these new changes and updates, we hope it is even easier and more rewarding to participate in the program.”

Powerful ProAdvisor Program

Intuit introduced the QuickBooks ProAdvisor Program in December 1996 followed with a formal launch in January 1997. Membership for this includes accounting professionals, who serve small businesses.

Ever since, ProAdvisor Program has grown rapidly across the word and particularly, in the United States, thereby providing accounting professionals with tools they need for success and growth.

On the program’s 20th anniversary in 2017, the company celebrated the “monumental milestone” of reaching 200,000 ProAdvisors worldwide.

Management noted that the company is highly interested in providing tools and benefits that support accounting professionals to improve their practices and be trusted advisors to their customers.

Focus on Small Business Segment

The company reports revenue generation from ProAdvisor Program in the Small Business segment. In the last reported quarter, the segment as a major revenue driver witnessed 11% revenue growth year over year with Online Ecosystem Revenues surging 42%.

The company’s focus on online ecosystem revenue yield is therefore prudent in our view.

Continued contribution to both online accounting and online services revenues is what keeps the company ticking. We therefore believe that with such updates, Intuit will be better equipped to compete with companies that offer online accounting and associated services, directly targeting small business customers.

Zacks Rank & Stocks to Consider

Intuit currently has a Zacks Rank #3 (Hold). Some better-ranked stocks in the broader Computer and Technology sector are CACI International (CACI - Free Report) , Intel (INTC - Free Report) and Symantec Corporation , each sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Long-term earnings growth rate for CACI, Intel and Symantec is projected at 10%, 8.42% and 7.9%, respectively.

The Hottest Tech Mega-Trend of All

Last year, it generated $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce ""the world's first trillionaires,"" but that should still leave plenty of money for regular investors who make the right trades early.

See Zacks' 3 Best Stocks to Play This Trend>>


See More Zacks Research for These Tickers


Normally $25 each - click below to receive one report FREE:


Intel Corporation (INTC) - free report >>

Intuit Inc. (INTU) - free report >>

CACI International, Inc. (CACI) - free report >>

Published in