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The Evolution of Intuit: Revolutionizing Personal Finance Management

Founded in 1983 by Scott Cook and Tom Proulx, Intuit began its journey to simplify household finances with the launch of Quicken. Cook's vision was to reduce the time wasted on financial management, leading to a groundbreaking approach to usability. By 1992, Intuit dominated 70% of the market, and in 1993 it became a public company. Over the years, Intuit evolved with products like QuickBooks and a strong focus on customer satisfaction, usability testing, and adapting to the internet market, establishing its place as a leader in financial software.

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The Evolution of Intuit: Revolutionizing Personal Finance Management

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  1. Intuit (Software Company)

  2. Founders • Scott Cook • USC Bachelors, Harvard MBA • 23 years old • Experience at Proctor & Gamble • Tom Proulx • Stanford student • Programmer, created version 1 in dorm room

  3. The Problem • Too much time “wasted” on household finances • Accounting packages were for accountants • “End financial hassles…”

  4. Company History • Founded 1983 (Quicken = initial product) • Dominating market (70%) 1992 • Public company by 1993 • Added William V. Campbell as pres & CEO in 1994 • Revamped Quicken.com 1997 • QuickBooks (small business software) 1999

  5. Lessons • Customer satisfaction & service • Listen to customers • Pioneer in usability testing • Evolve and change • Packaged software -> Internet • Personal software -> Internet services

  6. Resources • Intuit Pages • www.quicken.com • www.intuit.com • Wikipedia pages • Intuit • Scott Cook • Tom Proulx • Intuit history from Funding Universe • www.fundinguniverse.com/company-histories/Intuit-Inc-Company-History.html

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