MOVING TO THE CLOUD

Am I Next? Quicken, Intuit Split

I just received a "Critical Alert" email from Quicken explaining that "As part of Quicken's separation from Intuit, we are moving from Intuit's authentication service to our secure, new Quicken service. A reminder that this 33-year-old company was bought from Intuit by its management team that used venture capital to fund the purchase.

What this means for employees is that the pressure to perform has been increased and the company will face some degree of uncertainty and new challenges as they attempt to retain their customer base while building out the brand.

For those who do not know the tale, it is another attempt to isolate and sideline desktop software packages and move everything into the cloud. Of course, this brings with it significant security issues of doing business on unknown servers, in unknown locations, and with unknown, and possibly foreign employees holding the "keys to the kingdom."

According to a Computerworld article ...

"Last summer, Intuit's CEO explained that Quicken, which unlike QuickBooks and TurboTax lacked a cloud-based service or subscription offer, was essentially a dead end for the company. 'Quicken is a desktop-centric business and it doesn't strengthen the small business or tax ecosystems,' said chief executive Brad Smith in a conference call with Wall Street last year. 'Our strategy is focused on building ecosystems and platforms in the cloud.'"

A cautionary tale for employees who might find themselves at a company with near-obsolete products and an aging desktop/server infrastructure.