Intuit Enterprise Suite: First Look

On September 26, 2024, I attended a webinar introducing the shiny new Intuit Enterprise Suite offering that was launched on September 17, 2024. I wrote an article on the external facing announcement on that date, if you haven't reviewed, you can check it out here. Intuit is hoping this new offering will be setting new standards with its latest features, designed to enhance efficiency, provide deeper insights, and streamline operations for businesses of all sizes. Based on what I was able to gather from the webinar, let's unpack what I was able to experience.

What is it? In a nutshell:

At it's core, Intuit Enterprise Suite is a "one-stop shop" which is hoping to solve for a scattered Frankenstein of apps and workflows with an emphasis on Intuit's core services. Intuit has a long history of hoping QuickBooks to be the foundation of a business' ecosystem. If we look at the graphic below, we get that idea. Where QuickBooks is the core, and Intuit's core services: Mailchimp, QB Payments, QBO Payroll, and QB Bill Pay, Spreadsheet Sync for multi-company reporting all connected together by some twine of generative AI product, Intuit Assist. The idea here is to provide a better end to end experience due to its deeper integrations.

Vision vs Reality

Initially, the hope was to address workflow deficiencies in QuickBooks Online with a tech solution designed to overcome its limitations. However, this led businesses to create a complex and unwieldy tech stack. This approach introduced new challenges in integrating data into QuickBooks, as many third-party apps loosely claim to "Work with QuickBooks" on their websites.

At First Glance

The Intuit Enterprise Suite resembles QuickBooks Online because it essentially is QuickBooks Online. Similar to how QuickBooks Desktop Enterprise mirrors the layout and navigation of Pro/Premier, users familiar with QuickBooks Online will find the interface familiar, minimizing the learning curve. However, it's crucial to understand that this is not QuickBooks Desktop Enterprise in the cloud. The underlying functionality and reporting of each entity will mirror the subscription level of those entities. What IES allows companies to do is provide one place to see them all with a familiar navigation experience across the ecosystem. Companies who are already on QuickBooks Online and opting into IES will find the migration to be seamless, much like going from Pro to Enterprise in the desktop world. When going from Desktop Enterprise to Intuit Enterprise Suite, that's a different story. More on that process later.

Enter Intuit Enterprise Suite: What does it do?

The Intuit Enterprise Suite aims to streamline the chaotic array of apps by bringing them under the Intuit umbrella, offering unique features and enhancements unavailable elsewhere. Ultimately, to benefit from these new features, transitioning to the Intuit offering is necessary, though it comes with its own set of challenges. Let's first take a look at what is new:

What's New?

Multi Entity

Larger organizations often face challenges with QuickBooks Online's "One entity-One subscription" model, especially when managing interconnected companies. This can hinder inter-company transfers and user access. Now, businesses like real estate developers or franchisees can consolidate multiple entities under one system. They can invite up to 500 users, providing them with tailored access across entities. Similar to QBO Accountant, team members can access all clients without needing a direct invitation to the subscription. According to the documentation, 2 Super Users and 10 Standard Users are included as well as 3 Accountant seats. Additional users will incur a fee. 2 Entities are included and additional entities up to 50 can be added on.

Dimensions for Enhanced Reporting

Dimensions is a new concept in the QuickBooks world that is somewhat similar to Class, Locations, or Tags. Is is a new field that can be added to transactions that will allow for multiple dimensions when it comes to report. It is important to note that this is a new field, so if they are using Class, locations, or tags they can still use them. Some of the options that this will allow companies to do is:

• Enjoy faster, more granular reporting capabilities.
• Create up to 20 dimensions (1 class + 19 user-defined) with unlimited values in a multilevel hierarchy.
• Profit and Loss reporting by dimensions for clearer financial views.
• Tag budgets and forecast at line-items by custom dimensions for granular insights.

Change Orders, Project Financials and Job Costing

This long-awaited feature is finally making its debut in the Intuit Enterprise Suite. QuickBooks Online has often been criticized for lacking robust job costing compared to QuickBooks Desktop which excels in this area when payroll is processed within QuickBooks, allowing proportional allocation of payroll costs to jobs based on hours worked. With the integration of QB Time and QBO Payroll, these job cost allocations will soon be automated, bringing this capability on par with QuickBooks Desktop Enterprise.

Change Orders are a new feature in the Intuit Enterprise Suite, offering a significant improvement over QuickBooks Desktop. Unlike in QuickBooks Desktop, where a change order required editing the original estimate, IES treats Change Orders as separate transactions. This allows them to be individually sent to customers for approval. Once approved, the change order is integrated into the original estimate for invoicing, keeping Change Orders and estimates distinct for better tracking.

To go along with these two enhancements, there are requested Project Profitability reports making their debut in IES, making the built in reporting an easier starting point.

Below are the features and initiatives in this area:

• Streamline project management for increased profitability.
• Utilize change order management with client approval for precise project estimates.
• Access a customizable project KPI dashboard for performance monitoring.
• A new project manager role protects sensitive data while providing necessary access.
• Enhanced task management and expanded workflows for efficient project handling.
• Enhanced revenue recognition supports percentage-to-completion method or project milestones.
• A 15-report package with 7 new reports: Committed costs, Change orders, Project status, Project costs by vendor and project, Project costs detail, Unpaid bills by vendor and project, Time by employee and project..

Other New Features and Enhancements

• Automatically detect fixed assets from expenses entered or bank feeds.
• Revenue recognition support for customized schedules.
• Monitor cash flow based on transactions from COA and bank accounts.

Pricing - How Much does Intuit Enterprise Suite Cost?

This is often the big question. Fortunately, it likely won't cost $64,000. Unlike QuickBooks Online, pricing for the Intuit Enterprise Suite isn't determined by a simple subscription. You can't just visit Intuit's website and order it, as pricing depends on factors like the number of entities, users, and services, making it more complex. During the first year of launch, Intuit will manage the sales process to gather insights and offer optimal value and pricing. This includes dedicated account managers, sales engineers, a quote desk for pricing negotiations, and comprehensive support for implementation. As they "launch and learn," other value-added providers may join the process, but for now, Intuit solely handles everything from discovery to implementation.

Intuit Sales, Support, and Onboarding 

• Receive setup and project support from a dedicated Intuit expert team.
• Enjoy faster issue resolution with a centralized support system
• A dedicated Customer Success Manager assists with onboarding and support.
• Migration to IES with managed implementation services.
• Access live training classes, on-demand courses, and live instructors for product support.

These new features make the Intuit Enterprise Suite a powerful tool for businesses seeking to optimize their financial management and project operations. With enhanced automation, detailed reporting capabilities, and dedicated support, the suite is poised to help businesses achieve their goals more efficiently than ever before.