Intuit Investor Presentation August


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Intuit Investor Presentation August

  1. 1. Intuit Investor Presentation August 2013
  2. 2. FY’13-15 Operational Priorities g Using Data to Create Delight Delivering Awesome Product Experiences Enabling the Contributions of Others- “Network Effect Platforms” Intuit’s Growth Strategies Intuit’s Strategy: how we accelerate results • Amazing 1st Use Experiences: delivering the customer benefit • Reimagining Mobile 1st/ Mobile Only: design and capabilities • Solving Multi-Sided Problems Well: creating a virtuous circle • Expanding Globally: platforms localized by users and developers • Enabling Customer Data: better products & break-through benefits To be a premier innovative growth company… AcceleratingtoConnectedServices
  3. 3. Small Business Group
  4. 4. We improve the bottom line of small businesses by >20%… Get and keep customers Manage finances Make/Accept payments Hire/Manage employees Intuit Full Service Payroll SBG Vision and Offerings
  5. 5. SMB Market is Big and Growing • 29M SMBs in the US • 500M SMBs Globally • $60B in US SMB Spend in Target Markets $3.3 $12.0 $21.0 $24.0 FMS Payments EMS Acquire Customers +7% +5% +12% +15% • Acquire Customers segment growing fast • Non-Consumption is biggest opportunity Growth Rate Current SMB Spend ($B)
  6. 6. ~2B Invoices ~1.5B Bills Paid 1.6B Vendors 4.2B Customers 30M Employees $2T in Commerce The New Opportunity 5M SMBs 100K Developers 250K Accountants 1.2M Payroll SMBs >90% Retail Share 360K Payments SMBs FY08 FY11 FY12 FY13 FY14 FY15 FY09 FY10 Our Emerging Assets 2M Company Files in the Intuit Cloud Our Enduring Assets + = 133K 2M
  7. 7. Continue to grow attach Penetrating QuickBooks ecosystem remains key Lifetime Value of QBO exceeds desktop $5B attach opportunity remains 1 Yr 5 Yr 1 Yr 5 Yr QB Pro QB Online $409 $978 $382 $1409Software Ecosystem Attach Current Attach Attach Opportunity Desktop Online Use data for in product discovery 29% 17% $1.1B Payroll Attach Opportunity Current Attach Attach Opportunity Desktop Online Payments as a QB Feature 5% 6% $4B Payments Attach Opportunity
  8. 8. Extending the Core: Demandforce Effortless Communication Use email, text, social and search to grow your business and keep customers coming back Online Reputation Build, maintain and leverage your most valuable asset – a good online reputation Demandforce Network Increase exposure to your local community and maximize results Helping SMBs thrive in an evolving & increasingly complex, connected world Automated marketing & communications solutions Value proposition based on generating 3x ROI each month
  9. 9. What: We solve small business payments needs QuickBooks Payments Mobile PaymentsRetail Payments Get paid anywhere, with any payment type, on any device
  10. 10. Consumer Tax
  11. 11. Lots of room for long-term growth Manual Software Tax Stores Pros Revenue (Intuit Estimate) Est. FY12 Returns (Intuit Estimate) TurboTax has just 21% of Total Tax Returns, 7% of Revenue ~146M ~$20B
  12. 12. * Software $ represents TurboTax estimated average revenue per return. Source: Intuit estimates, surveys Manual Franchise/Tax Store Pro / CPA Software ~5M filers enter ~3.5M filers exit $239 $203 $46* $0 51 28 38 -44 1% -1% 7% -14% Price Net Promoter 5 yr CAGR FY08 FY09 FY10 FY11 FY12 Strategically positioned in the sweet spot
  13. 13. Manual is not our largest customer source Sources of FY’09-’12 TurboTax customers Retention of existing customers Competitive prep methods Manual New filer
  14. 14. Opportunity: reacquire & retain customers 70M+ unique visitors to ~35M unique customers over last 3 years Customer gains and losses Acquisition Attrition 55 63 72 FY10 FY11 FY12 21 24 25 FY10 FY11 FY12 7.1 7.8 7.5 FY10 FY11 FY12 1 pt conversion = $40M and 720k customers 1 pt retention= $14M and 250k customers
  15. 15. We are striving for one True North outcome for Intuit (best we can be) • Grow organic revenue double digits • Grow revenue faster than expenses • Deploy cash to highest-yield opportunities • Maintain a strong balance sheet Financial Principles
  16. 16. Drive Growth In Our Core Products Acquire New Users Retain Existing Users Increase Offerings/User $1 Billion+ Opportunity 10M+ customers leave Intuit annually Average 1.5 apps/user with low awareness 1st use experiences not as easy as expected For every 100 we attract… Between 2-14 convert! Improve Conversion 50% = up to $1 Billion Save 1 out of 10 = $75+ Million Increase 0.5 apps/user = $500 Million