Intuit on Wednesday launched QuickBooks Commerce, a new platform that aims to consolidate sales channels into one central hub for product-based small businesses.
The platform allows businesses to access and integrate sales channels, manage orders and fulfillment, sync inventory, avoid out-of-stocks, and get profitability insights. According to Intuit, the platform marks QuickBooks' entry into the fintech e-commerce category, which has seen significant growth this year due in part to the COVID-19 pandemic.
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Intuit said QuickBooks Commerce is an open platform, meaning businesses can import sales data from an array of marketplaces, websites and sales systems providers. Amazon, ShopKeep, and Squarespace are launch partners for QuickBooks Commerce.
"The small and medium businesses that sell in our store are incredibly important to Amazon and our customers, and we're on track this year to invest $18B in logistics, tools, services, programs, and people to help them succeed, " said Abhi Tiwari, director of Multi-Channel Fulfillment for Amazon. "We welcome efforts from companies like Intuit that give selling partners using Multi-Channel Fulfillment even more options to grow their business on and off Amazon."
According to Intuit, over 80% of product-based SMBs that sell through multiple channels still reconcile inventory using pen and paper or spreadsheets. It's that market that Intuit is appealing to with QuickBooks Commerce, along with existing users of QuickBooks Online and the rest of QuickBooks' suite of tools.
With all of the core QuickBooks services combined, Intuit is pitching itself as a comprehensive digital platform to centrally run and manage a multichannel business.