A CNN Money web article published on 4/5/12 states:
“QuickBooks and TurboTax are near monopolies, with a retail market share of more than 90%, according to NPD Group, a market research firm.”
(Click here to read the article titled “How Intuit Rules Your Books”.) Intuit has over 4 million customers using Quickbooks®. Although there are other very good small business software available such as Sage 50 (formerly Peachtree), Quickbooks® is the dominant player. (Thus this article will focus on Quickbooks® and use this term to include editions from Quickbooks Pro to Enterprise.)
Intuit has been very successful with Quickbooks®, as indicated by the size of its market share, due to providing a lot of functionality for a very low price; thus a great value. In my opinion, Quickbooks® primarily services businesses with revenues below $15 million with the majority being below $10 million.
In my prior corporate career (before being a CFO 4 Small Biz TM Consultant), the companies for which I worked utilized much higher level (ERP) software to run the business. Even using higher level software, there was still a need to use separate financial reporting software because Continue reading