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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Intuit Inc.    INTU


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Intuit : ProConnect Announces Karbon Partnership to Deliver Intuit Practice Management to Tax Professionals

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02/25/2020 | 10:01am EDT

Intuit adds new partner to advance capabilities in ProConnect Tax Online and Lacerte, deliver automated tasks and optimize workflows for tax professionals

Today, Intuit ProConnect is announcing Intuit Practice Management powered by Karbon, to continue accelerating software capabilities for tax professionals. Karbon, a practice management solution and advanced work and communications platform, enables a collaborative place for accounting firms and professional services to manage workflows, communicate with teams and deliver exceptional client work in today’s digital workplace.

“We’re continuing to build meaningful relationships with trusted partners like Karbon to make sure tax and accounting professionals have the tools they need to reduce compliance work and help their clients thrive,” said Jorge Olavarrieta, Vice President of Product Management at Intuit. “With Intuit Practice Management, firms can now increase their team’s output with a centralized, collaborative work management platform deeply integrated with their email and the tax software they know and love from Intuit.”

“At Karbon, we have always had the greatest admiration for Intuit’s best-in-class products, and their willingness to innovate and explore new initiatives that will significantly benefit their customers,” said Stuart McLeod, Chief Executive Officer & Co-Founder at Karbon. “We are beyond excited to be partnering with Intuit in this space to offer a solution that can create a meaningful impact on our joint customers and the accounting profession as a whole.”

Enhanced and expanded capabilities with a subscription to Intuit Practice Management include:

  • Automated tasks: One centralized, searchable and shared cloud-based location for all client activities - with each member of the team - including emails, notes, time tracking, documents, projects and tasks. Intuit Practice Management helps automate time-consuming processes and adds conditional rules to trigger activities as work progresses. Intuit Practice Management’s email integration works with Office 365, Gmail and Exchange.
  • Optimized workflows: Manage capacity with a visual snapshot of all work in progress, identify bottlenecks with performance analytics and keep up-to-date with shared timelines of all activity per project.
  • Integrated templates: Standardize tax specific tasks with templates for common tax returns like 1040 to corporate, estate or trust, allowing users to start and work on a tax return directly from within Intuit Practice Management. The integration allows users to access the tax return through deep links, track status of the return based on actions and activity within the tax workflow of Lacerte and ProConnect Tax Online. Additionally, users can standardize common processes with templated checklists and connect to CRMs, proposal software, time tracking, industry tools and more.

After creating an account, tax professionals can now seamlessly navigate from Intuit Practice Management to Intuit ProConnect Tax Online and Lacerte to confidently scope work, automate data collection, scale client onboarding, anticipate bottlenecks and automate recurring work. All communication and work can now be in one place so tax firms know their team has everything they need to analyze team performance, improve efficient processes and inform future planning.

“This partnership gives accounting firms something they’ve never had before, combining their best-of-breed tax and compliance software seamlessly with their professional-grade practice management,” said Ian Vacin, Chief Customer Officer & Co-Founder at Karbon. “For the first time, they can streamline their workflow from end-to-end, allowing them to work more efficiently, make better-informed decisions and improve their client service.”

With Intuit Practice Management, Intuit is continuing to expand its new, advanced capabilities for tax professionals. Integrations with trusted partners helps automate compliance work by working with tax professionals’ existing core tax software, freeing up more time for firms to deliver advisory services to clients. Intuit knows availability to tools that deliver on client and firm needs is paramount to firm productivity. Intuit Practice Management is expected to be available for tax year 2020. Additional terms, conditions and fees apply. Tax professionals will need to share client information with Karbon. To learn more visit http://proconnect.intuit.com/practice-management.

About Intuit

Intuit’s mission is to Power Prosperity Around the World. We are a global financial platform company with products including TurboTax, QuickBooks, Mint and Turbo, designed to empower consumers, self-employed and small businesses to improve their financial lives. Our platform and products help customers get more money with the least amount of work, while giving them complete confidence in their actions and decisions. Our innovative ecosystem of financial management solutions serves approximately 50 million customers worldwide. Please visit us for the latest news and in-depth information about Intuit and its brands and find us on social.

About Karbon

Karbon is work management software for accounting firms. It provides a truly collaborative platform to manage workflows, communicate with teams and deliver exceptional client work. By combining email, discussions, tasks and powerful workflows, Karbon aligns your team with a single place to communicate and collaborate, increasing capacity to deliver on time and budget. To learn how you can maximize your team's output with Karbon, visit http://www.karbonhq.com

This information is intended to outline our general product direction, but represents no obligation and should not be relied on in making a purchase decision.

© Business Wire 2020
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Financials (USD)
Sales 2020 7 473 M
EBIT 2020 2 522 M
Net income 2020 1 672 M
Finance 2020 3 191 M
Yield 2020 0,93%
P/E ratio 2020 35,4x
P/E ratio 2021 31,6x
EV / Sales2020 7,42x
EV / Sales2021 6,58x
Capitalization 58 667 M
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Brad D. Smith Executive Chairman
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