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Intuit has rolled out its AI agents to QuickBooks customers in the UK, Canada and Australia, marking the global launch of its financial platform (which was already live in the USA). This means businesses can delegate tasks to five AI agents: Accounting Agent, Customer Agent, Finance Agent, Project Management Agent and a VAT AI Agent that’s currently in beta.
Intuit’s big promise isn’t simply a collection of AI agents, but that they form part of an all-in-one platform that gives business owners everything they need in one place. Including connections to third parties, whether software or expertise such as accountants.
“Think of this as a virtual team around that business, but the customer is always in control,” said Nick Williams, Product Director at Intuit during the QuickBooks product launch in London. “A redesigned user experience across all those critical jobs, from one customisable dashboard access to third-party apps as well as seamless collaboration with our accountant and bookkeeper.”
Williams went on to describe the role of each agent.
“The Accounting Agent automates the bookkeeping,” he said. “It does categorisation. It actually keeps the accounts clean, up to date and activated. It actually detects any anomalies and resolves those by facilitating seamless collaboration with the accountant, the bookkeeper.”
Next: the Customer Agent. “The Customer Agent goes into your inbox and actually finds leads, high value opportunities. It drafts responses, it sends estimates for those small to mid sized businesses, and it tracks it all through the sales cycle.”
Then he introduced Intuit’s Finance Agent. “The Finance Agent builds comprehensive financial summaries, take your profit loss, your balance sheet, your cash flow, but it also looks for discrepancies that can lead to insight, that can lead to action for their accountant.”
As for the Project Agent: “When you’re setting up a project, this automatically fills that project and gets it up and running, so there’s no time wasted on manual data entry,” said Williams.
Intuit’s US customers already benefit from a Sales Tax Agent, which is being converted into a VAT AI Agent in the UK. “This is about keeping the income report in sync with the net sales amount,” said Williams. “And actually it looks for differences, but also possible causes of why there are differences between those two reports, and then provides the relevant notification from the accountant, bookkeeper, small business.”
The new QuickBooks has gone live for UK customers today. To coincide with the launch, Intuit released a report that it calls “The Growth Gap“.
Based on a survey of 3,600 SMB leaders, drawn equally from the UK, Canada and Australia, and supported by interviews, it believes that each UK firm is losing 7.9% of its annual revenue due to unrealised opportunities. Opportunities, Intuit believes, that companies will be better placed to see if they embrace its new QuickBooks platform.
Based on average annual revenue, Intuit equates that 7.9% to £121,000 of missed cost per average small and medium-sized business. Scale that up to firms with 100 to 250 employees and the missed growth gap is £416,000, Intuit claims.
