Many leading organizations around the world frequently are asking that would Intuit discontinue its product line of QuickBooks products. Moreover, for a considerable period of years, individuals have convinced themselves that there is no future for this product. Intuit has also launched various versions of products that comprise of QuickBooks Enterprise, QuickBooks for Mac and QuickBooks Pro or Premier. It is interesting to note that many modern day accountants who are quite adept in their job role are of the opinion that the future of QuickBooks accounting software is dead and seems bleak. It has powerful features that would always enable a business to maintain its accounting services in an efficient manner. However, it needs to be frequently upgraded so that the rising challenges in the accounting world can be adequately met.
On the other hand, the desktop version of QuickBooks comprises of an interactive user interface which would always enable the users to be on par with the latest challenges. On the other side, QuickBooks also has an online version that depicts practicality to modern day users. But despite having so many features, QuickBooks and its future seem bleak from the present perspective. Moreover, both the online and offline versions have its own set of disadvantages that is a major hindrance in its efficient working process.
Why did individuals think that it is losing its popularity?
It is important to note in this context that there are a lot of reasons behind the worries of people about the future of Quickbooks desktop hosting. As per Intuit, their central theme of designing the software should be in a cloud. Moreover, as per many users, if you go to the QuickBooks website, you would not find any reference to the desktop product. Many experts are of the opinion that the CEO of Intuit has said that he would discontinue the product within the next five years. This news has received mixed reactions from a plethora of individuals across the globe.
Intuit’s plan for the future to keep its business thriving
In order to stay alive in this competitive world of developing accounting software, Intuit has to lay emphasis on the following aspects that it would find easy to communicate to its users. They are as follows:
- The use of mobile technology should be harnessed by Intuit so that they can cater to the increasing number of accountants who prefer to work from the comfort of their smartphones.
- Working in the cloud is another central area where the company can lay emphasis. It can do so by designing its services in such a manner that they are compatible with all the major components in the cloud. Moreover, by synchronizing in a cloud, it would be easier for the companies to tackle the problem of big data.
- In order to improve the efficiency of QuickBooks, Intuit must lay emphasis on proper methods to collect data. However, to do so, they need to access the data of the users which may be a big hurdle in this process.
- Another area where QuickBooks severely lacks is its inability to penetrate other developed countries and developing nations. For instance, in recent years, QuickBooks is only limited to USA, Canada, and the UK. Hence, it would be better if the authorities at Intuit take into account the market penetration of QuickBooks.
It is also important to note that the desktop version of Quickbooks has received more revenue than the online version. So, there are chances that Intuit would discontinue its online version and would make way for the desktop version only. Moreover, as the desktop version does not need massive investments on internet packages. It would help Intuit to penetrate the markets of developing nations with much ease. Hence, Intuit’s Quickbooks is here to stay. One may see a few toggles here and there but all in all, it would be there in the near future.