Herb Brooks, the great hockey coach, once said, “Great moments are born from great opportunities.” It’s been an exciting opportunity for Intuit since launching QuickBooks Online, or QBO, in Canada just four years ago with the goal of reshaping the future of accounting and small business in our country.
We’ve seen exceptional growth since then, and I’m thankful that twice as many of you, our small business customers, have chosen QBO, more than doubling our subscribers in the last two years. In fact, I am pleased to share some incredible news that there are now 100 thousand active small businesses using QBO in Canada!
Small businesses have driven a dramatic shift in Canada’s landscape recently with the emergence of innovative startups run by tech-savvy, digital entrepreneurs alongside the traditional “mom and pop” shop down the street.
Entrepreneurs are increasingly harnessing the power of technology to solve their business problems, with 61 per cent now using the cloud, a whopping 30 per cent point increase year-over-year from 2015. It’s clear that this has led to a monumental change in what small business owners expect in their accounting solution. In the cloud, entrepreneurs can build efficiencies into their business model, achieve greater collaboration and realize more time savings and growth opportunities.
Increasingly, cloud technology coupled with our growing ecosystem of third party app integrations, makes QBO the natural choice for busy entrepreneurs.
With this accelerated progression, it is clear that we have moved into the Early Majority phase of Geoffrey Moore’s famous “Crossing the Chasm” bell curve, which will only increase with the continued support, leadership and market influence of many of the innovators and early adopters who’ve been with us since the beginning.
What’s Next for QBO and You?
We’re focused on expanding our developer and accountant communities that makes the QuickBooks platform transformative to better fuel small business success in Canada. Our robust network of Canadian ProAdvisors ensures our customers have access to the strategic guidance they need for growth and has grown exponentially since 2012. Two of our earliest Canadian adopters, Jennie Moore and Andrew Wall, were recently selected as finalists in the global Firm of the Future contest, which celebrated accounting professionals who are embracing the power of the cloud to grow their practice and navigate the complex trends affecting our industry.
We’re focused on helping you solve your unique pain paints by continuing to expand our app ecosystem, leveraging the fact that small businesses are adopting mobile technology in record numbers with 64 per cent of Canadian entrepreneurs using a smartphone to manage their business.
This year, the number of apps attaching to the Canadian QBO ecosystem grew by 60 per cent and the number of customers using apps grew by 40 per cent. Over the past four years, our ecosystem has expanded from four to 163 app integrations, and we’ve partnered with industry leaders like Square, and Canada’s most successful startup, Shopify, to better meet your needs so you can use these apps seamlessly in harmony with QuickBooks Online, now one of the top-ranked SMB accounting app in Canada in the App Store, to run your business.
As more and more or you join the ecosystem, our open platform of connected data continues to expand, weaving together these interlocking communities of developers, accountants and small businesses. This unique community forms a robust operating system driving entrepreneurial success in Canada – your success. This continued growth drives our ability to leverage machine learning to make our ecosystem work harder and enable our customers to operate more efficiently and strategically.
I want to take this time to thank you – each and every member of Canada’s small business ecosystem -who have helped make this possible. The growth of QuickBooks Online in Canada is fueled by a network effect of small businesses, developers and accountants all working together:
- To our small business customers, thank you for choosing QBO; we’re so proud to support your entrepreneurial success.
- To our Intuit accountants, we couldn’t have made it happen without you and look forward to our continued partnership to drive cloud adoption in Canada.
- To our developer partners, our app ecosystem is thriving and continues to grow thanks to you; together, we’re building the operating system behind small businesses to empower and fuel success in this new cloud-driven economy.
This growth is proof of our ongoing commitment to our small business, accountant and developer customers, and your commitment to each other. As we continue to grow together, harnessing the wealth of data in our platform to drive automation and machine learning, I can’t wait to find out together what the next four years have in store.