Intuit Announces Organizational Changes
In an effort to “focus more sharply on its core businesses”, Intuit today announced several changes to its organizational structure. These include the realignment of their Accountant related business to provide an increased emphasis on the company’s growing global connected services. This realignment will facilitate accomplishment of the company’s two strategic goals “to be the world’s small business operating system” and to “do the nations’ taxes in the United State and Canada.”1
At the same time Intuit announced that they would divest themselves of Intuit Financial Services by selling IFS to Thoma Bravo, pending regulatory approval. Intuit also plans to sell the Intuit Health Group to a yet to be named healthcare organization.
Recognizing the core of their business, the realignment of Intuit’s Accounting Professionals Division is intended to capitalize on opportunities within emerging global markets. Key to this success will be formation of two accounting organizations led by the division. The first organization will be the Accountant and Advisor Group to “focus exclusively on building a loyal base of accountants around the globe who use and recommend Intuit’s small business solutions.” The second accountant organization, ProTax, will strive to win the professional tax market in North America by shifting tax preparation to cloud and mobile-based solutions.
These changes, along with those previously announced last May will take effect with the start of Intuit’s new fiscal year on August 1, 2013.
1-Source: Intuit Inc. “Intuit Announces Next Phase of Structural Moves; Organization Foundation Now in Place”, July 1, 2013.