But now here are two more steps to remove some of that extra effort.īut the like of ADP, Paychex and Ceridian aren’t the only ones contending with Intuit for SMB dollars. The tradeoff customers have always had to make when choosing QuickBooks Payroll over, say, Ceridian, has always been about the amount of effort they had to put it: QuickBooks was cheaper but required more effort on the user’s part. Neither of these are particularly dramatic steps, but they’re certainly enough to get the attention of small and microbusiness owners. The same-day service, which is free to QuickBooks Full Service Payroll users, seeks to go a step further. Intuit claims that since it introduced its 24-Hour Direct Deposit service last year, QuickBooks Payroll users have been able to significantly improve their cash flow. The second enhancement, Same Day Direct Deposit, QuickBooks Payroll customers will be able to approve direct deposits up to 7 a.m. Given the growth of the contingent workforce-Intuit estimates 43 percent of the American workforce will be self-employed by 2020-it makes sense that one QuickBooks’ new features, Contractor Direct Deposit, enabled businesses to pay contractors via direct deposit and become a handy companion to services that help prepare 1099s and keep records. By our count 29 products are listed in the Human Resources section of the QuickBooks app store, and some of them offer services for organizations with up to 300 employees. Through QuickBooks, users can access workforce management systems like EmployeeConnect, performance reviews by JuvodHR, organization charts by PeopleGrid and benefits management by Humanefits. But there are also solutions for scheduling, CRM and-wait for it-HR. Not surprisingly, many of these of related to finance and payroll issues such as time-tracking, mileage tracking and tax planning. According to numerous reports, QuickBooks holds 80 percent of the market for small business accounting software.īut as important, at least in the long term, is the company’s open platform, which has resulted in the development of some 1,400 third-party apps. It’s important for HCM technology companies to keep an eye on Intuit because of its deep penetration of the SMB market-the same market that’s looking more and more for technical solutions to HR challenges. And, we should note, few would argue with the company’s point that paying workers is one of small business’s biggest pain points. The additions, Intuit said, are designed to help small businesses cope with their workers’ demands for fast and flexible payment options, which are gaining importance in a continually tight labor market that relies on a growing contingent workforce. Intuit’s QuickBooks will soon offer enhanced payroll services including direct deposit for contractors and same-day payroll deposits for employees.
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