May 29, 2003

Press Release: Quickboks Platforms Expands With New Industry Specific Solutions

My spin: Intuit continues to meet its future and current customer needs by paying attention to them. Small businesses are so much alike, but as Intuit research shows they are still so different the 50 person doctor's office is different than the 50 person accountant's office. But Intuit is NOT alone, Best Software's Peachtree is coming out with new products and other larger software packages are also going vertical, including SAP.

News Clip: -- Company sets new standards for vertical segments by delivering on its "Right for My Business" strategy --

MOUNTAIN VIEW, Calif. - May 14, 2003 - Addressing the specific needs of small businesses and accountants, Intuit Inc. (NASDAQ: INTU) today unveiled several new QuickBooks(r) financial products, including industry-specific offerings for nonprofit organizations and healthcare practices."Intuit research shows that more than 60 percent of our 2.6 million QuickBooks customers have requested industry-specific solutions," said Dan Levin, vice president and general manager of QuickBooks Financial Solutions."In the 18 months since we launched the 'Right for My Business' strategy to address the needs of small businesses and accountants, the QuickBooks line has grown from four to 16 unique offerings. This includes solutions for larger and more complex businesses, as well as 'beyond accounting' offerings and products for specific industries, such as retailers and contractors." In addition to industry-specific solutions for nonprofit organizations and healthcare practices, QuickBooks is introducing a financial statement reporter add-on product for the QuickBooks Accountant Editions. Other products include an updated version of QuickBooks Enterprise Solutions
Business Management Software for growing, more complex small businesses, as well as new QuickBooks Enterprise Solutions offerings for contractors and accountants.

"Smaller companies have so much in common, from price sensitivity to lack of full-time technology staff, that it's easy to overlook how different they can be," said Raymond Boggs, vice president for small/medium business research at IDC. "Small firms really see themselves as industry participants first and don't want to change their preferred vocabulary and business practices to accommodate new software. By adding specialized financial solutions for healthcare practices and nonprofit organizations,
Intuit will strengthen its position with current and potential customers looking to manage their own unique industry environments."

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