Underpins Intuit’s commitment to deliver best-in-class products to empower UK accountants, small businesses and the self-employed
Intuit QuickBooks, the world’s leading online accounting software provider, has today announced the launch of QuickBooks (QB) Assistant, the latest innovation within QuickBooks Self-Employed and in QuickBooks (Beta), designed to help millions better understand and navigate their finances. Unveiled on stage at the UK’s flagship event, QuickBooks Connect, QB Assistant is a virtual assistant that offers a conversational chat experience and solves a common problem for the self-employed and small business owners – quickly and easily staying on top of their finances.
QB Assistant combines data-driven insights and natural language processing to understand intent and identify context to uncover numerous financial data points – from tax obligations to expense tracking, cash flow, profitability and more – saving precious time and giving self-employed and small businesses the insights necessary to make informed financial decisions with confidence. Those that work for themselves can simply ask questions or state requests and access valuable business insights without the need to run reports or analyse data.
It only takes a few seconds for QB Assistant to tell entrepreneurs how much money they made last month, how much tax they’ll owe at the end of the year, how long their current cash flow will last, or even how profitable the most recent customer was compared to the previous five. All they need to do is ask a question, and QB Assistant answers.
“We are delighted to be launching QuickBooks Assistant in the UK. We are committed to helping empower our customers through next-generation technology, enabling them to turn insights into action to drive long-term growth” says Dominic Allon, Vice President and Managing Director of Intuit Europe.
QB Assistant is one of several best-in-class product developments from Intuit. Investing in innovation that facilitates smarter decision-making for its customers is a priority, and that includes developing partnerships with leading financial institutions. Direct data feeds are, or will soon be available, with major UK banks including Royal Bank of Scotland, NatWest, HSBC, Lloyds, Bank of Scotland, Barclays and Santander.
Also announced at QuickBooks Connect is the integration of QuickBooks Self-Employed and QuickBooks Online Accountant. Soon to be available, the integration will help provide smarter connections between self-employed workers and accountants.
As the UK continues to see a significant upturn in self-employment, with self-employed workers now accounting for 15% of all people in work, accountants are taking on more self-employed clients than ever before. The new integration allows accountants that use QBOA to access their customers’ QuickBooks Self-Employed portals through their own account. It provides a seamless, collaborative client workflow and saves accountants valuable time by eliminating the extra step of logging into a separate portal. The integration also allows QuickBooks Self-Employed users to control what information is shared and accessed, giving them added peace of mind and confidence that their accountants are able to access their data in real-time.
“Our commitment to continued innovation for our customers – from our use of artificial intelligence and machine learning to partnering with key financial institutions and providing seamless integration between products – underlines our role in helping to foster a strong fintech ecosystem in the UK,” concludes Dominic Allon. “A major part of this is better preparing our customers, whether business owners or accountants, for the introduction of Making Tax Digital (MTD). Next-generation technology that offers a smooth experience will empower customers to prepare for MTD and file taxes digitally with ease and confidence, freeing them up to make smarter decisions, smarter connections and smarter money.”