The site includes an organizer and an online tax reference library for consumers. But perhaps more significantly, they announced they are trying to automate the entire tax preparation process for the consumer by enabling its customers to link directly to employers, banks, brokers, and other payors that would electronically transmit W-2 and 1099 data to Intuit s server and into the customer s tax return. When the customer is satisfied that his return is complete and accurate, he hits Enter, and the return is electronically filed. Intuit wants to make this a two-minute process. Their target client is the young, techno-savvy millionaire, and according to their website, they provide each client with a personal CFO who is a preeminent CPA or attorney with more than a decade of experience typically from a Big 5 professional services firm.
Clients have a choice of doing business in person, on the Internet, or a combination of the two.
Team members stand ready at only a phone call away. Oracle claims it will overtake Quickbooks and dominate the small business accounting market. They recently announced a partnership with ADP to provide online payroll software. It also promotes virtual controller services for a monthly retainer, and targets fast growing small businesses. A business simply enters relevant company data to send out a request for proposal to participating companies like Fidelity Investments, AXA, Dreyfus, and American Express who have signed up to bid on the work and offer advice.