Keynote by Rich Preece at Scaling New Heights 2017 in Orlando. Here is a recap for those who missed out. Let us know what speeches you found to be the most valuable in the comments below!
Here is what our team that attended the conference took away from this truly relevant and eye opening speech about the future of the financial accounting industry and QuickBooks.
Intuit Global Accountant Segment Leader
The ProAdvisor Program hit its 20th anniversary this year.
- In 2014, there were 100,000 ProAdvisors.
- There are now currently 200,000 Pro Advisors as of last month.
- 31,000 Certified ProAdvisors.
- 1,000 ProAdvisors attended SNH17
There are currently 2.2 million QBO subscribers.
QuickBooks Self-Employed is Intuit’s fastest growing offering.
Global Business makeup:
- 5 million mid-size businesses
- 50 million small businesses
- 750 million self-employed businesses
US Business makeup:
- 200,000 mid-size businesses
- 28.8 million small businesses
- 15 million self-employed businesses
Half of all businesses worldwide use a QuickBooks product.
89% of small businesses are more successful when they work with an accountant.
Demographics will be shifting over the next few years to more younger and self-employed businesses. Some of the latest product innovations from Intuit can be found in the following section.
Find a ProAdvisors / Find an Accountant website:
- Last year, over 1 million small businesses browsed this platform
- Intuit connected 14% of businesses that used this platform with a ProAdvisor
- The typical match rate for this type of relationship is 30% and as such Intuit will be striving to increase this.
- Some of the improvements to the platform recently have been that it now tracks leads and views.
- In QBOA, Intuit has developed a new tool to allow managing of tasks that need to be completed for clients. This can be used for clients whether they use QBO, QB Desktop, or a 3rd party software.
- Much of the benefit does come if the client is in QBO.
Development in these areas will take on the following forms:
- Continued focus on Find a ProAdvisor site
- Practice Management to include insights and recurring tasks
- Deeper tax integration
- A re-imagined ProAdvisor program
The Demographic Shift
- By 2020, 43% of small businesses will be self-employed
- This demographic is primarily looking for assistance with:
Taxes and Separation of personal/business
- This client base is looking for accountants just as much as the normal QuickBooks client base.