Sheryl Estrada’s Post

We are all familiar with Intuit and its products, Quickbooks, TurboTax & CreditKarma. They were also in India for a brief period, and I have voiced my opinion about that in an earlier post. Intuit's recent announcement of laying off 1,800 employees, including some executives, highlights a broader trend among companies striving to stay relevant and competitive in an ever-evolving technological landscape. This decision, part of Intuit's transformative journey, underscores the company's commitment to reallocating resources toward priority areas such as AI and generative AI. Intuit's investments in AI-powered solutions, like its GenAI-powered financial assistant, reflect a strategic shift from traditional workflows to AI-native experiences. Additionally, the company's focus on money movement, mid-market expansion for small businesses, and international growth exemplifies its efforts to adapt to emerging market demands. This trend of companies continuously churning to remain competitive and investing in cutting-edge technologies offers valuable lessons for businesses worldwide, particularly small and medium-sized enterprises (SMEs). Embracing technological advancements and being willing to pivot resources towards innovative solutions can be crucial for long-term success. Businesses and individuals can learn from larger corporations like Intuit by recognizing the importance of agility, forward-thinking strategies, and the integration of AI to enhance their offerings and stay ahead of the curve in an increasingly digital world. #intuit #quickbooks #AI #automation #accountingautomation #CFO #agile #forwardthinking #transformation #peachtreemanagementadvisors #businesstransformation #techtrends #digitaltransformation #futureofwork #leadership #strategy

Intuit, a leading financial software maker, has reported exceptional second-quarter results, surpassing revenue and earnings expectations. The company's robust performance is a testament to its resilience and innovative approach to meeting the evolving needs of its customers. Notably, Intuit has demonstrated strong growth across its segments, with revenue soaring 14% year-over-year to $3.0 billion. This achievement underscores the company's unwavering commitment to delivering top-notch products and services, including Turbotax.pk, QuickBooks Company, and Credit Karma. Furthermore, Intuit has raised its full-year revenue guidance and adjusted earnings per share guidance, reflecting its optimistic outlook for continued success. The company's CEO, Sasan Goodarzi, highlighted Intuit's ongoing investment in innovation and expansion, aiming to better serve customers both in the US and globally. Additionally, Intuit's progress in integrating Intuit Mailchimp, a significant acquisition, further underscores its strategic vision for growth and diversification. In light of this remarkable news, I am proud to emphasize the pivotal role of TESI ITO as a reliable talent-sourcing partner in the Philippines. TESI ITO has consistently provided access to exceptional Filipino talents known for their strong work ethics and technical expertise. As we celebrate Intuit's achievements, let's also recognize the invaluable contributions of Filipino professionals in driving innovation and success in the tech industry. #Intuit #TechNews #Finance #Innovation #TESI #TESIOutsourcing #Philippines #TalentSourcing #FilipinoTalents #WorkEthics #GrowWithTESI Sources: (1) Intuit Inc. - Intuit Reports Strong Second Quarter Results and .... https://lnkd.in/gKgCEXAa. (2) IBM's third-quarter results beat estimates on resilient software demand .... https://lnkd.in/gvD25yNC. (3) Technology at Intuit | Engineering, Data, ML, AI, Open Source. https://lnkd.in/gVD_8WX9. (4) IBM's quarterly revenue beats estimates on resilient software, strong .... https://lnkd.in/gcRyXCaB.

#IntuitBetsBigOnAI Intuit's Bold Move: AI and Data at the Core! 🚀 In a significant shift, Intuit, the company behind QuickBooks, Credit Karma, and TurboTax, is laying off 1,800 employees, including some executives. CEO Sasan Goodarzi emphasized that this decision is not about cutting costs but aligning the company’s strategy with its AI and data-driven future. 🌐 By pivoting towards AI, Intuit aims to enhance its financial assistant, Intuit Assist, and reimagine its product offerings. This move aligns with a broader industry trend, as AI adoption surged to 72% this year, according to McKinsey. Goodarzi's vision since 2019 has been to "bet the company on data and AI," a strategy that seems to be paying off. Intuit reported a revenue of $6.7 billion, marking a 12% increase. 📊 Intuit plans to hire 1,800 new employees with expertise in engineering, product management, and customer-facing roles to drive this transformation. This approach not only strengthens Intuit's market position but also sets a precedent for other companies navigating the AI landscape. Are you seeing similar strategic shifts in your industry towards AI and data? Share your thoughts! 🌟 #Intuit #AI #DataDriven #TechTransformation #BusinessStrategy #SasanGoodarzi #QuickBooks #TurboTax #CreditKarma #Saasverse

And it begins … Intuit to lay off 1,800 employees, plans to rehire for new AI and customer roles. Business and financial software company Intuit Inc. (whose products include TurboTax, QuickBooks, Credit Karma, and Mailchimp), today announced that it’s laying off 1,800 employees, about 10% of its workforce, as it looks to focus more on utilizing artificial intelligence… it will rehire those with the right skills … #highereducationleadership #boardofdirectors #highereducation #workforce #digitaltransformation

Intuit is taking customer obsession to the next level with its recently launched Intuit Assist - a new generative AI (GenAI)-powered assistant that spans across Intuit's products to provide new benefits and improve customers' financial lives.   In my early career as an auditor, I have observed that Intuit QuickBooks and Intuit TurboTax are user-friendly even for non-accounting and tax experts. As a product manager now, I acknowledge the importance of understanding the users, brainstorming ideas, and launching useful features. I come to realize that small, considerate features like the privacy toggle in QuickBooks or the Race mode in TurboTax make a significant impact on users' everyday work. Intuit Assist, is well thought out and is probably the need of the hour. It provides personalized, intelligent recommendations to help consumer and small business customers make smart financial decisions with less work and complete confidence, enabling them to put more money in their pockets. I'm thrilled about Intuit Assist, a cutting-edge fintech innovation that offers intelligent financial advice to small businesses and individuals. The loading icon, or "throbber," is cute and attention-grabbing. The launch videos showcase the user-friendly interface, and I'm eager to try it out and share my feedback.   Intuit as usual is leading its way in GenAI and the fintech world! Kudos to the entire team! #genai #fintech #innovation #ai #product #newfeature

Intuit will tell approximately 1,800 of its global employees—10% of its workforce—they will be leaving the company. But leadership says the move isn’t to cut costs. Sasan Goodarzi, CEO of the Fortune 500 company, which offers products like QuickBooks, Credit Karma, and TurboTax, wrote an internal email to employees, seen by Fortune, announcing the “very difficult decisions my leadership team and I have made.” Goodarzi explains that Intuit’s transformation journey, including departing from the 1,800 employees, is part of its strategy to increase investments in priority focus areas of AI and generative AI, such as its GenAI-powered financial assistant called Intuit Assist, and reimagining its products from traditional workflows to AI-native experiences. The strategy also focuses on money movement, mid-market expansion for small businesses, and international growth. bit.ly/4cVAvZK

Business Units get shut down. Yes, it's a reality. However, for Intuit to shut down Mint.com on Jan 1, 2024; giving users less than two months to migrate; right before the start of tax season is downright horrible and a terrible decision for the rest of the Intuit portfolio. Managing a portfolio of brands is NEVER easy but some decisions are just obviously the wrong ones. #financeandeconomy #brandportfolios #brand

Interesting news coming out of Intuit (owner of QuickBooks). Laying off 10% of their workforce! This underscores the impact of AI in our industry. AI is, without a doubt, replacing many (if not most) of the basic bookkeeping functions. Intuit knows this and they are investing a ton of money and resources into AI, which I think will directly impact their independent bookkeeping business partners. The bookkeeper position has endured an assault on its perceived value in the small business community over the last decade. First it was overseas competitors, then virtual assistants; but now the biggest one of all is AI. Is your bookkeeping business equipped to survive? If you haven't spent time crafting or re-evaluating your 1-3 year business plan, I encourage you to do so now. Find your value proposition, evaluate your offerings, and plan out your sources of revenue (you need more than ONE). I'm routing for you! #bookkeeping #accounting #QuickBooks #ProAdvisor #bookkeeper #smallbusiness #fractionalcfo #mentoring

This article really captures how Intuit is helping small business to survive and thrive. AI will help bridge the gap between small and big businesses.

- 1,800 Jobs and + 1,800 Jobs bc of AI Intuit, the company behind TurboTax, is undergoing a major AI-related transformation. As part of this shift, the company is laying off 1,800 employees, but in a strategic move, they are also hiring the same number of new employees but with AI expertise. The centerpiece of this transformation is Intuit Assist, a generative AI-powered tool designed to revolutionize tax preparation and financial management. Intuit Assist offers personalized tax checklists, access to virtual tax experts, and streamlined processes across TurboTax, QuickBooks, Credit Karma, and Mailchimp. CEO Sasan Goodarzi emphasized that this is part of a broader strategy to become an AI-driven expert platform, combining decades of tax expertise with cutting-edge technology. For more details on Intuit’s exciting changes, read the full story here: https://lnkd.in/eYsi_hvd #Intuit #AI #TaxPrep #Innovation #TechNews #BusinessTransformation