QuickBooks vs Zenefits

2023. Intuit launches generative AI–powered digital assistant for small businesses and consumers



Intuit, the prominent U.S. financial and accounting software company, has introduced its inaugural customer-centric generative AI-driven solution known as Intuit Assist. Functioning as a digital assistant, it is seamlessly integrated into Intuit's suite of platforms and products, including TurboTax, Credit Karma, QuickBooks, and Mailchimp. With a consistent user interface, Intuit Assist leverages contextual datasets to deliver personalized recommendations to the company's vast customer base of over 100 million small businesses and consumers worldwide. This innovative offering also facilitates human assistance through Intuit's live platform when necessary. The digital assistant was created using GenOS, Intuit's proprietary operating system based on generative AI, which was launched in June to empower developers in incorporating AI across the company's product portfolio.


2020. Intuit acquires inventory management software TradeGecko



Intuit, a US-based business and financial software company, has made a deal to purchase TradeGecko, a Singaporean software-as-a-service company specializing in online inventory and order management software for small businesses. The acquisition, valued at $80 million, aims to combine TradeGecko's inventory and order management capabilities with Intuit's QuickBooks accounting platform. This integration will enable QuickBooks Online customers to effectively launch and oversee products across online and offline sales channels. Additionally, they will be able to handle orders and inventory fulfillment from different channels and multiple inventory locations, as stated in the announcement.


2017. Intuit acquired time-tracker TSheets



Intuit, the company renowned for products like QuickBooks, has recently made a significant acquisition. They have acquired TSheets, a time-tracking service and employee scheduling app with a customer base exceeding 35,000, for a total of $340 million. Given the substantial overlap in their target markets, primarily catering to small and medium-sized businesses, it's evident that QuickBooks and TSheets complement each other. In fact, Intuit reveals that the two companies already share 12,000 customers, indicating an existing synergy. This acquisition is not primarily aimed at acquiring new customers but rather at enhancing the QuickBooks ecosystem. It's worth noting that TSheets already integrates with QuickBooks. Throughout my discussions with Intuit in recent months, it has become apparent that their current product plans revolve around minimizing friction, particularly in relation to QuickBooks, aligning with their commitment to creating seamless experiences for their users.


2017. Zenefits added performance management tool



HR management service Zenefits has introduced a new in-house performance tracking tool for employees as part of its strategy to become a comprehensive HR solution for small businesses. Alongside features such as reviews and goals, the tool will gradually incorporate check-ins and peer reviews. While these aspects may sometimes be neglected or considered secondary in smaller companies, Zenefits aims to streamline the process and introduce advanced corporate practices to smaller businesses.


2017. Zenefits simplifies human resources management for SMB



Zenefits, a human resources management service, has recently unveiled a range of updates aimed at streamlining employee management processes, including benefits administration and payroll, by providing user-friendly mobile app functionalities. These improvements come in the wake of a compliance scandal that significantly impacted Zenefits' valuation, prompting the company to strategically reestablish itself among small- to medium-sized businesses through a simplified product offering, diverging from its previous complex desktop dashboard. Additionally, Zenefits is introducing reporting and analytics features for HR managers, enabling them to generate comprehensive reports on employee activities within their organizations. This business intelligence capability is particularly useful in providing HR managers with valuable data insights for presentations to their superiors.


2017. Zenefits adds new tools for employee compliance



Zenefits, an HRM service, introduces new tools designed to assist HR managers in guaranteeing employee compliance with regulations and the timely submission of required documents. The initial tool enables HR managers and employers to proactively address compliance requirements for employees. This functionality includes identifying instances where employees have not submitted necessary paperwork after accepting a job, enabling managers to easily identify and manage non-compliant cases. The second tool is a document management application that empowers HR managers to oversee the submission of all required documents by employees. Unlike conventional file storage solutions like Box or Dropbox, Zenefits' document app emphasizes metadata and ensures the presence of signed documents in an organized file system. HR managers can either upload documents themselves or request prompt submission from employees.


2016. HR service Zenefits opens up to third-party developers



The second version of Zenefits, an online HR service that consolidates payroll, benefits, and compliance management, is being launched under the name Z2. In addition to serving as a central hub for company data, Z2 is now positioned as a platform that allows other companies to leverage this data for their own tools. Zenefits has opened its doors to third-party developers, enabling them to utilize Zenefits as a permanent repository for employee data, similar to how certain services utilize Facebook for user data, and develop their own services around it.


2015. Zenefits launched own payroll platform


Cloud-based HR service, Zenefits, has introduced its own payroll system following its disconnection from paycheck services giant ADP earlier this year. While Zenefits initially partnered with ZenPayroll, the latter rebranded to Gusto in September and released a set of free HR services that closely resembled Zenefits' offerings. The newly launched Zenefits payroll system operates in two modes. The first is a free, fully automated service that seamlessly integrates automatic payments with employee deduction updates for health, retirement, and other benefits. Additionally, there is a pro mode available for users who prefer more control over the backend. Zenefits Payroll Pro starts at $25 per month, with an additional $4 per employee per month on an annual contract. Furthermore, the new system offers integration with QuickBooks and Xero, enabling smooth connectivity and data synchronization.


2015. Zenefits launched free tools for managers and executive


Cloud HR service Zenefits has introduced two management tools that were typically exclusive to larger enterprises, but are now available for free. The first tool, called Zenefits for Managers, empowers managers within an organization to independently make HR changes without having to wait for HR or CEO approval. This includes tasks like adding new hires, modifying job titles, and adjusting salaries. Additionally, Zenefits is granting executives access to business intelligence reports through Zenefits Business Intelligence. This feature enables users to filter real-time workforce data, including compensation, employee headcount, and turnover. The aim of this product is to mitigate disparities and provide executives in different offices with insights on how their departments compare to others.


2015. Cloud HR management provider Zenefits raised $500 Million



The SaaS company with the most rapid growth in history, Zenefits, has successfully secured a funding round of $500 million, valuing the company at $4.5 billion. Zenefits revolutionizes the way small and medium-sized businesses manage their human resources services, offering a simplified approach. Employers can access Zenefits' HR services dashboard free of charge, while the company generates revenue through commissions from insurers. Zenefits proudly announces that it has already onboarded over 10,000 companies in the United States, and its business growth in March alone surpassed its accomplishments during its initial year. Furthermore, Zenefits currently manages an impressive portfolio of over $700 million in health insurance premiums.