New innovations connect products across Intuit’s platform to deliver seamless, done-for-you experiences for consumers and businesses
Intuit, the global financial technology platform that makes Intuit TurboTax, Credit Karma, QuickBooks, and Mailchimp, shared the company’s strategy at Investor Day and unveiled new AI-powered innovations that help consumers make smart money decisions year-round and fuel business growth on Intuit’s platform, supercharged with an AI-powered financial assistant in customers’ pockets.
“Intuit’s AI-driven expert platform delivers seamless, connected, done-for-you experiences that help customers make more money with less work and have complete confidence in every financial decision,” said Sasan Goodarzi, Intuit’s chief executive officer. “Built on years of investments in our data and AI capabilities, Intuit’s platform is perfectly positioned to fuel the financial success of consumers and businesses around the world.”
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Make smart money decisions year-round with seamless integration of TurboTax and Credit Karma on one consumer financial platform
Consumers are trying to make ends meet, get out of debt, and save money. Upcoming innovations across TurboTax and Credit Karma will deliver a single, connected consumer financial platform that delivers insights and recommendations year-round and done-for-you experiences at tax time.
Credit Karma members will soon have access to their own personalized and interactive Financial Summary with tax, spending, credit, and debt insights all in one place. Members who link their accounts will be able to see when their spending could exceed monthly income with explanations of essential and non-essential spending and how it is impacting their ability to save money. When they receive a pay increase, Credit Karma will proactively update their estimated tax refund and members will be able to see recommendations about how 401K contributions and adjusting withholdings can help them increase their refund and save more toward retirement.
When Credit Karma members receive their W-2 or other tax forms, they will be able to take a photo through the Credit Karma app and upload the document right from their mobile device. Intuit Assist, the generative AI-powered financial assistant, will provide members a summary of the uploaded tax document and key information like employer, tips and social security wages. Come tax time, member information can be pre-filled in their TurboTax return along with linked accounts and the documents they’ve uploaded throughout the year, saving them time and giving them confidence they are getting their best tax outcome.
As one connected consumer financial platform, Credit Karma members will be able to file their taxes right from the Credit Karma app through a seamless filing experience powered by TurboTax – no need to track down another login and password. Because faster access to cash matters, members can choose to access their refund up to five days early by filing with TurboTax and having their refund deposited directly into their Credit Karma Money account.
Fuel business growth with a single, connected business platform
Today, businesses use 10 different apps and because they are not connected, they do not have a holistic view of how their business is performing. To solve this challenge, Intuit is more deeply connecting QuickBooks and Mailchimp with new AI-powered automations and done-for-you experiences that will help customers grow their business while dramatically reducing manual work.
When business owners log into QuickBooks, they will see a business feed with powerful new insights on projected cash flow, identified invoices that are overdue, or will be soon, and marketing and revenue opportunities with recommendations for how AI can take the work off their plate. Business owners will be able to generate invoices, business proposals, estimates, and email marketing campaigns at the click of a button, without the need to manually enter data. Business owners can quickly review content, make changes, and hit send in minutes, reducing the amount of work needed to get paid, convert prospects, manage customers, and drive repeat business, all from within QuickBooks.
It’s not just about getting the estimate, or sending an invoice; it’s actually about getting paid. New innovations will automatically notify business owners if an upcoming cashflow dip is predicted based on connected bank account balances, unpaid invoices, and the data on when those invoices have historically been paid. New AI-generated invoice reminders will make it easier than ever for businesses to remind customers to pay them. Business owners will also be able to see if their business has been pre-qualified for a QuickBooks Line of Credit1, review a pre-populated application, provide any additional information needed to complete it, and apply without ever leaving QuickBooks. These new innovations will be powered by Intuit Assist and Mailchimp’s CRM capabilities, coming soon to QuickBooks US and Canada customers.
Intuit is unveiling these upcoming innovations just over a week after the launch of Intuit Enterprise Suite, which is designed for larger and more complex multi-entity businesses that are focused on growth. Intuit Enterprise Suite is an all-in-one configurable solution with payments and bill pay, project profitability, multi-entity financial management, payroll, human resources, and marketing, all catered towards complex business needs and sold together.
Supercharged financial assistant in your pocket with more AI-powered expertise
Today, assisted tax prep is fragmented, manual, and expensive with little price transparency. It can take over a month to have taxes done by a CPA and get a refund. New TurboTax Live innovations enable our experts to complete a customers’ taxes virtually in as little as 30 minutes at a competitive price.
Customers will have the option to connect with a personal tax expert who is local to their area and has experience with their specific tax situation, whether it’s a question about investments, self-employed tax deductions, or payroll taxes. Customers will be able to share personal and financial information they’ve provided between TurboTax, Credit Karma, and QuickBooks so data entry truly is done-for-you. Customers will also be able to follow along with their expert’s progress in the Full Service hub within the TurboTax mobile app.
These upcoming innovations will disrupt the assisted tax model, giving consumers and small and mid-market businesses complete confidence while putting more money in their pocket, all powered by Intuit’s Virtual Expert Platform and Intuit Assist.
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