Intuit inc. announces new product innovations designed to leverage the latest in artificial intelligence, bringing technology typically reserved for the big companies directly to small businesses
Intuit inc. announced new product innovations designed to leverage the latest in artificial intelligence (ai), bringing technology typically reserved for the big companies directly to small businesses. being part of quickbooks now means being part of the growth of one of the most advanced ai-driven, expert small business financial platforms in the world, giving small businesses the advantage they need to succeed. announced at intuit’s sixth annual quickbooks connect conference, more than five thousand attendees were the first to see the advanced capabilities of quickbooks’ ai-driven expert platform. new innovations help simplify and automate work, while eliminating drudgery and tedious tasks by identifying patterns in the billions of transactions that flow through the quickbooks platform. quickbooks takes the guesswork out of being a small business owner or self-employed by being the single source of truth for their business. quickbooks online now uses ai to automate certain repetitive back-office work, reduce friction in getting paid, and improve forecasts of cash flow. this makes small businesses smarter, more successful and free to focus on the important work of delighting customers. quickbooks has delivered innovations in all areas of running a small business. at last year’s quickbooks connect, quickbooks showcased its first look at smarter ways to add payment capabilities to invoices. as a result of those innovations, quickbooks customers on average get paid within five days of sending an invoice, three times faster than those who don’t use quickbooks payments. in regards to payroll, employers using the quickbooks flagship online payroll products can now hold onto their money until payday, instead of tying up funds several days in advance. this allows business owners to hold onto $22 billion in funds for days longer each year. finally, with quickbooks capital, $1.7 billion in funding has been distributed to small businesses, including $1.3 billion in marketplace funds and $441 million in direct lending. this year, quickbooks builds on this momentum with three key areas to accelerate the benefits for customers: smart money, smart decisions, and smart connections. money is like oxygen to small business owners. they can’t survive without it. in fact, in 82 percent of small business failures, cash flow problems are a contributing factor. quickbooks is unveiling new innovations to help small businesses get paid faster, get access to the capital they need and better understand their cash flow, allowing them to stay ahead of challenges. coming soon: cash flow planner" small businesses need a full view of their cash flow in order to make the best decisions. leveraging the power of ai, this tool will enable small businesses to predict their daily cash flow over the next 90 days. the planner proactively alerts business owners when a negative situation is on the horizon and provides recommendations around how to navigate the situation. quickbooks leverages anonymized data across millions of customers with more than 26 billion touchpoints to generate predictive scenarios with accurate cash flow forecasts. in addition, the planner can be used for scenario planning to help users answer questions such as: “is it safe to hire another employee now, given my forecasted cash flow in the coming few months. new:quickbooks payments - quickbooks payments currently enables next day payment and will soon enable instant deposit payments, giving small businesses access to funds after getting paid, whether through bank transfers or credit card, rather than waiting several business days. businesses can create a payment-enabled invoice in less than one minute, with their hours, expenses and mileage added automatically through ai. they can also customize their invoice, take a deposit or structure installments and allow customers to pay in a variety of formats, enhancing their customer service while improving their cash flow. additionally, quickbooks now ensures that small businesses get paid wherever they are with the introduction of a new set of features in gopayment. with gopayment, business owners can set roles and permissions for staff that enable the ability to accept and get paid at a job site.
