Quicken
NetSuite Helps Quicken Maintain Its Stride Through Divestiture
Minimizing disruptions during a divestiture can define the future of the standalone company. So when Intuit announced it would divest of Quicken in March 2016, Quicken’s leaders needed a new technology foundation that would allow it to grow and evolve a business that has been providing personal finance software for 30 years. It had only six months to transition from the on-premise systems of its former parent company.
COMPANY
Quicken
LOCATION
Menlo Park, Calif.
INDUSTRY
Software
REVENUE
$100 million
EMPLOYEES
100
NUMBER OF USERS
75 including Employee Center users
NUMBER OF SUBSIDIARIES
1 (1 parent and 1 sub; 2 entities)
NUMBER OF COUNTRIES
2 (U.S. and India)
SYSTEM REPLACED
QuickBooks Online
OTHER SOLUTION CONSIDERED
Intacct
NETSUITE PRODUCTS IMPLEMENTED
NetSuite OneWorld
Advanced Inventory
Advanced Procurement
IMPLEMENTATION PARTNER
NetSuite Professional Services
LEARN HOW CLOUD ERP CAN STREAMLINE YOUR BUSINESS.
“I’ve used eight different ERP systems—from SAP to QuickBooks Online. NetSuite is perfect. It’s not too complex, not too simple. It’s flexible and powerful, but still easy to use.”
- Gary Hornbeek, Corporate Controller, Quicken
Seamless Transition to a Future-Proof Platform
Fast implementation meets
divestiture deadlines
divestiture deadlines
- Quicken chose NetSuite OneWorld for its robust functionality and integration, ease of use, and scalability, seamlessly transitioning from a temporary QuickBooks Online environment in a five-month implementation by the October 1 deadline. NetSuite empowers a lean and growing operation of 100 employees, including 30 in Bangalore.
- Efficiencies gained through the system and easy integrations with third-party applications like Bill.com allow Quicken to operate with a much smaller accounting team than similar-size businesses, with the flexibility to accommodate complex revenue recognition processes for different product lines.
Robust functionality,
automation for efficiency
automation for efficiency
Functionality to fuel product
evolution
evolution
- As Quicken re-architects its own software to run in the cloud, NetSuite’s agile, scalable cloud-based platform will streamline complex revenue recognition processes crucial to selling both traditional license and SaaS solutions. Quicken executives will have real-time insight to evolve products at the pace necessary in this competitive space.
