MOUNTAIN VIEW, Calif. - Intuit Inc. (NASDAQ: NASDAQ:INTU), a global financial technology platform, has entered into a multi-year strategic partnership with Amazon (NASDAQ: AMZN), making QuickBooks the preferred financial management solution for Amazon sellers on Amazon Seller Central. Amazon, which has delivered an impressive 54% return to investors over the past year according to InvestingPro, continues to strengthen its ecosystem through this collaboration designed to offer millions of Amazon sellers integrated tools to manage their finances and support their business growth.
The partnership will enable sellers to leverage Intuit’s AI-driven platform within Amazon Seller Central for insights into profitability, cash flow, inventory, and estimated tax liabilities. Intuit CEO Sasan Goodarzi stated that businesses using QuickBooks have a significantly higher success rate, and this alliance aims to extend these benefits to Amazon sellers.
Dharmesh Mehta, VP of WW Selling Partner Services at Amazon, emphasized the goal of equipping sellers with financial tools and access to capital to scale efficiently. The integration will facilitate real-time financial updates for sellers, allowing them to make informed decisions for their business.
Key advantages for Amazon sellers include comprehensive financial management with end-to-end visibility and streamlined tax filing through Intuit's platform. Additionally, eligible sellers will have access to personalized loans through QuickBooks Capital directly within Amazon Seller Central, simplifying the funding process to foster business expansion.
Intuit’s platform offers a range of services, including financial and workforce management, payroll, bill pay, marketing automation, and live expert support. The company also maintains a strong commitment to data privacy, security, and responsible AI governance, adhering to principles set by the U.S. Artificial Intelligence Safety Institute Consortium.
The rollout of these capabilities is scheduled to begin in mid-2025, initially focusing on U.S. sellers, with plans to expand internationally thereafter. For investors tracking this development, InvestingPro offers comprehensive analysis with over 15 additional ProTips and detailed financial metrics in their Pro Research Report, available for more than 1,400 US stocks. This initiative is part of Intuit's ongoing efforts to power prosperity for its customers, which include products like TurboTax, Credit Karma, and Mailchimp.
This information is based on a press release statement from Intuit Inc.
In other recent news, Walmart (NYSE:WMT) Inc and Amazon.com (NASDAQ:AMZN) emerged with record-breaking sales during the Black Friday and Cyber Monday events. Analysts from Piper Sandler and BofA Securities have expressed a robust outlook for tech stocks and Amazon shares, respectively, based on promising IT spending and AWS outlook. Amazon's strong holiday sales also led JPMorgan to maintain the company as its top stock pick, while Susquehanna reaffirmed a positive outlook on Amazon stock.
Microsoft Corporation (NASDAQ:MSFT) reported a 16% year-on-year increase in Q1 FY2025 revenue, reaching $65.6 billion, with its cloud unit's revenues surpassing $38.9 billion. Analyst firms including TD Cowen, Citi, Mizuho (NYSE:MFG), and Goldman Sachs have maintained their positive ratings on Microsoft's stock.
In other developments, Amazon's cloud computing division, Amazon Web Services (AWS), has launched new capabilities for its Amazon Q Developer and a series of advanced artificial intelligence models, Amazon Nova. AWS also announced the introduction of new data center servers equipped with its proprietary AI chips.
These are recent developments in the operations and strategic decisions of Walmart, Amazon, and Microsoft.
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