Intuit Gains Further Ground with itDuzzit Acquisition

By Steve Anderson August 14, 2014

Intuit, these days, has been busy. With acquisitions like Check Inc. and Lettuce Apps showing up in recent days, Intuit is eager to gain ground and hold that ground by offering up the best range of services that it can. To that end, Intuit has made another purchase to line its growing arsenal in the form of itDuzzit, a startup out of Chicago that has a unique premise to it, and one that might make Intuit a real powerhouse in the field.

What itDuzzit has to offer is a set of tools designed to integrate both Web-based and mobile apps together, a process that's being described as a kind of “if this then that” (IFTTT) for the enterprise level.  With itDuzzit's tools in Intuit's toolbox, the company can now offer a broader-scale solution, and get the company closer to being able to offer a platform that allows the largest number of currently-operating small business apps to connect readily to QuickBooks, what is arguably Intuit's flagship product. With itDuzzit in place, a wide array of apps will join the fray of QuickBooks connectivity, including major names like Box and PayPal, among a host of others.

The terms of the deal between Intuit and itDuzzit weren't disclosed, but the reports suggest that a couple of conditions appear to have been established. Particularly, the product won't be taken offline—as so many others have in the wake of purchases by a larger company—and the company's co-founders apparently have new jobs at Intuit now. Interestingly, itDuzzit wasn't the only company in the field; it had several competitors that Intuit could have worked with instead. For instance, there was Zapier, a company with some fairly big-name investors to its credit including Bessemer Venture Partners. But itDuzzit appears to have gotten the nod on this one, and that's opening up some interesting new possibilities.

While it's clear that Intuit's stake in this is to expand its reach, a development that commonly works well in terms of holding on to old business and attracting new business. Now that Intuit not only has QuickBooks, Quicken and TurboTax on its side, but also a mobile payment and bill management operation like Check and an inventory management system like Lettuce Apps, that adds up to a remarkably complete solution for many common accounting functions, not to mention some for logistics as well. Intuit might well keep expanding until it can handle accounts receivable, accounts payable, and everything else along the ledger, becoming perhaps the ultimate in business software.

With recent reports suggesting that small businesses in the United States were struggling to stage worldwide expansions, there could well be a sudden expansion in the market for tools to help fuel worldwide expansions in operations. Tools that can perform several functions at once, therefore, might be particularly prized as U.S. small business starts eying the world stage. Only time will tell just what Intuit's master plan produces, but with itDuzzit and several others on its side, the end result is looking quite positive for Intuit.

Edited by Maurice Nagle

Contributing TechZone360 Writer

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