MUFI Rating & Risk – Intuit Quickbooks Enterprise Solutions

MUFI Rating & Risk – Intuit Quickbooks Enterprise Solutions

MUFI: Maintainability, Usability, Functionality, Implement ability

Vendor: Intuit Quickbooks Enterprise Solutions (Select For Vendor Profile)

Introduction

Intuit was the originator of the standalone financial system and has been fabulously successful. It has very high client satisfaction level. Quickbooks is the go-to financial application for the majority of small to smaller mid-sized businesses. It has gradually increased its scope of functionality over the years, and can even serve manufacturing entities. Quickbooks now has a point of sale application with comes with a barcode scanner, receipt printer, credit card reader and cash drawer. Customers can also hook up various physical inventory scanners for use in a manufacturing facility or a warehouse. Quickbooks is extremely easy to use, which is why so many companies cling to it when it is time to move on to a full-featured system.

Application Detail

Quickbooks Enterprise edition can track 100,000 combined names and items, and hundreds of thousands of employees and partners.

QuickBooks Reports

Quickbooks has decent built-in reporting capabilities.

Quickbooks has primarily been included in this section because it serves as the standard for easy to use financial applications, and in our TCO research, customers are always interested in how a financial application stacks up against Quickbooks, even though most of our customers have outgrown Quickbooks. It has very lightweight functionality, yet it is enough for so many companies. Quickbooks is so easy to implement; it’s hard to call making Quickbooks live within an organization an implementation. More of the implementation comes down to integrating Quickbooks to other application rather than configuring the Quickbooks functionality.

Overall, Quickbooks has sort of barely “enterprise” functionality, and it contains more functionality that it may first appear because it seems that there is no way it could support the size of companies that we see using it, yet it is enough for so many companies. One of the ways that Quickbooks does this is with applications or apps.

Intuit App Store

Intuit has copied the platform approach of AppExchange developed by Salesforce.com, and this explains how Quickbooks can be easily extended. We tested quite a few of these apps and found they could be installed very quickly.

MUFI Scores

All scores out of a possible 10.

Vendor and Application Risk

Buyers of Intuit Quickbooks Enterprise are well positioned to have successful implementations. The only real risk factor with an Intuit Quickbooks Enterprise implementation is related to software functionality. Many buyers that currently use the application are actually too large and have too many functionality needs, and should move on to one of the other applications on this list. This is a compliment to Intuit in that they have built such a useful and “sticky” application that they are used in situations where they really should not be. We rate Intuit Quickbooks Enterprise as having only average functionality when compared to other applications in this category – which we realize is not entirely fair. However, this is in fact where Intuit Quickbooks Enterprise is often implemented.

Likelihood of Implementation Success

This accounts for both the application and vendor-specific risk. In our formula, the total implementation risk is application + vendor + buyer risk. The buyer specific risk could increase or decrease this overall likelihood and adjust the values that you see below.

Risk Definition

See this link for more on our categorizations of risk. We also offer a Buyer Specific Risk Estimation as a service for those that want a comprehensive analysis.

Risk Management Approach

There are no special risk management considerations with an Intuit Quickbooks Enterprise aside from matching the application to the proper environment regarding company size and desired functionality. However, if it is implemented in companies that are too big for it, buyers must expect to have to perform some “workarounds.”

Finished With Your Analysis?

To go back to the Software Selection Package page for the Finance & Accounting software category. Or go to this link to see other analytical products for Intuit QuickBooks Enterprise Solutions.

Enterprise Software TCO Calculator – Intuit QuickBooks Enterprise Solutions

How it Works

Fill out the form below for a your customized TCO calculation, as well as each of the supporting cost components that make up the TCO. The form does not have a “beginning or end.” The form is constantly calculating, so feel free to make constant changes and the application will auto-adjust.

Details

  • Vendor Name: Intuit (See for Vendor Rating)
  • Software Category: Financial and Accounting
  • Company Headquarters: 2632 Marine Way, Mountain View, CA 94043
  • Site: http://www.intuit.com
  • Contact number 650.944.6000
  • Delivery Mechanism: SaaS or OnPremises (but primarily sold as SaaS)

Finished With Your Analysis?

Once complete, goto this link to see other analytical products for Intuit Quickbooks Enterprise Solutions.

Project Planning Package – Intuit QuickBooks Enterprise Solutions

How it Works

Fill out the form below for your project planning estimate. The form does not have a “beginning or end.” The form is constantly calculating, so feel free to make constant changes and the application will auto-adjust.

Details

  • Vendor Name: Intuit (See for Vendor Rating)
  • Software Category: Financial and Accounting
  • Company Headquarters: 2632 Marine Way, Mountain View, CA 94043
  • Site: http://www.intuit.com
  • Contact number 650.944.6000
  • Delivery Mechanism: SaaS or OnPremises (but primarily sold as SaaS)

Finished With Your Analysis?

Once complete, go to this link to see other analytical products for Intuit Quickbooks Enterprise Solutions.

References

Risk Book

Software RiskRethinking Enterprise Software Risk: Controlling the Main Risk Factors on IT Projects

Better Managing Software Risk

The software implementation is risky business and success is not a certainty. But you can reduce risk with the strategies in this book. Undertaking software selection and implementation without approximating the project’s risk is a poor way to make decisions about either projects or software. But that’s the way many companies do business, even though 50 percent of IT implementations are deemed failures.

Finding What Works and What Doesn’t

In this book, you will review the strategies commonly used by most companies for mitigating software project risk–and learn why these plans don’t work–and then acquire practical and realistic strategies that will help you to maximize success on your software implementation.

Chapters

Chapter 1: Introduction
Chapter 2: Enterprise Software Risk Management
Chapter 3: The Basics of Enterprise Software Risk Management
Chapter 4: Understanding the Enterprise Software Market
Chapter 5: Software Sell-ability versus Implementability
Chapter 6: Selecting the Right IT Consultant
Chapter 7: How to Use the Reports of Analysts Like Gartner
Chapter 8: How to Interpret Vendor-Provided Information to Reduce Project Risk
Chapter 9: Evaluating Implementation Preparedness
Chapter 10: Using TCO for Decision Making
Chapter 11: The Software Decisions’ Risk Component Model

Software Category Analysis – Financial and Accounting

Introduction

Something very interesting is happening in the space for stand-alone financial systems. And that is that even the largest buyers now have superior solutions available to them outside of ERP system financials. This is a fact, but is still little known among enterprise software buyers, most who still adhere to the incorrect notion that ERP systems offer the best financial and accounting functionality.

Quickbooks was the originator of the stand alone financial system, and has been fabulously successful, and has a very high client satisfaction level. Many people do not know that Quickbooks runs quite a few companies of surprising size that have essentially outgrown Quickbooks – because they started with the application before they began to grow, and never switched to a new financial/accounting system. However, other more heavy-duty stand-alone financial systems have risen to prominence. These application integrate very easy to supply chain and CRM systems, and have the potential to change the game in the ERP space.

A New Better Era For Financial and Accounting Applications

The applications profiled in this section have a level of user satisfaction, and a level of usability that ERP systems cannot match. Furthermore, the discrepancy is quite large and is widening because the stand along financial software vendors are innovators, while most ERP vendors are not. Secondly, some of these financial software vendors are quite new – which means they have exceeded the financial systems in ERP systems in a very short period of time. If the difference is already so great, our prediction is that it will only continue to grow.

Some of these new stand alone financial application are doing things that the financial systems in ERP suites never thought to do, and are allowing the buyers that use them to actually be better managed. For instance, the statistics on everything from how quickly money is collected, to revenue recognition to how sales is tracked is better in these applications than in ERP systems. The major consulting companies have been giving the advice to their clients that implementing an ERP system are the best route to better financial performance. However, the research into ERP system implementations over a period of three decades has proven this to be untrue. The question for the present and which will only increase in the future, is how much do companies intend to accept their performance to be reduced by continuing to use ERP based financial system?

Another major benefit of this category of applications is that none of the major consulting companies have consulting divisions that focus on implementing them. These companies do not get their sales leads from major consulting companies – which means the cost of implementation is far lower and the likelihood of project success is substantially higher than if a major consulting company is involved in the implementation. This is shown in our TCO estimation when one compares stand along financial applications to ERP applications.

Strong Innovation

Financial Force and Intacct are software vendors to keep one’s eye on. In addition to its leading financial application, Financial Force has introduced a very nice application, which is essentially a complete solution for consulting management called Professional Services Automation.

Professional Service AutomationThis application leverages Financial Force’s financial functionality by planning items like bill-ability, consulting revenues – in fact all the requirements to manage a consulting entity in one application.

Software Category Summary

The stand-alone financial application category has at least three excellent choices for small, medium and large buyers. While there is no research on the financial returns of these applications, they are so superior to what is currently used, that is ERP financial modules, that the likelihood of a strong ROI is properly implemented is quite high. The news on these applications is slow to get out, because buyers will not hear about them from their consulting company. However, once a detailed comparison is performed for what they can do, they become easy decisions.

MUFI Rating & Risk

See the MUFI Ratings & Risk below for each application in the Finance & Accounting software category.

[table “43” not found /]