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“With this transaction, we will work together to vastly improve the customer experience and product benefits of the TSheets and QuickBooks integration.”
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“Similar to Intuit, TSheets has built an amazing product, created a strong company culture, and built a reputation on outstanding customer support,” added TSheets cofounder and CEO Matt Rissell. The price also suggests that Intuit was desperate to buy the company, with TSheets claiming some 35,000 customers globally and known to have been profitable for some time. Notably, aside from a small undisclosed angel funding round back in 2008, TSheets had only raised $15 million in equity funding in 2015, so a $340 million sale seems like an excellent exit for TSheets and Summit Partners, its main investor. “This acquisition will unlock critical upstream data that will allow us to create frictionless experiences that remove work, make it easier to get paid, and provide valuable insights into the health of our users’ businesses.”
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“With TSheets as part of Intuit, we have a tremendous opportunity to provide millions of small businesses and self-employed a smarter, simplified way to quickly and accurately track their time, send invoices, run payroll, and understand profitability by project,” said Alex Chriss, SVP and chief product officer for Intuit’s small business arm. According to Intuit, 12,000 businesses are already using both QuickBooks and TSheets, and bringing TSheets in-house will help Intuit create tighter alignments between the software. This acquisition makes a great deal of sense. Last year, Intuit and TSheets announced a deeper integration of their respective software, with QuickBooks customers now able to leverage TSheets to manage their employees’ scheduling and time-tracking without leaving QuickBooks. Employees can track, submit, and approve accurate employee hours directly from the QuickBooks Time mobile app which saves time when collecting, entering and.
#Intuit employee scheduling software software
Among the most popular tools is accounting software QuickBooks, which TSheets has integrated with since 2012 through the QuickBooks app store. Palo Alto-based Intuit is among the more recognizable brands in the finance software sphere.