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ntuit is testing QuickBooks Online in the United Kingdom and is looking for a way to get into the retail market there as part of its plan to grow its largely American business in other countries. Those were some of the remarks made by Matt Rhodes, Intuit's director of investor relations at a UBS Technology Conference in London this week.
The company had previously disclosed plans to enter markets in English-speaking countries. But the fact that Rhodes made a presentation at a conference in England shows that the company is moving forward quickly. Rhodes acknowledged that Sage has a stronghold in English retail. However, he said mobile and online applications would be the way Intuit moves into most countries.
Two years ago this month, Intuit began its international expansion by entering the Indian market. Rhodes also disclosed the possibility of marketing products in China. "If we enter China, it will be very much a mobile-type application that’s what we are trying now," he said. He also talked about moving into Southeast Asia.
Rhodes gave more detail about previous company statements that most QuickBooks Online customers are not switching from the desktop software package. "Over 70 percent are new to the [QuickBooks] franchise," he said. "We are not cannibalizing the market."
