Intuit acquires Fifo, an Australian cloud-based workpaper software provider

Jennifer Germano for Whatech writes: Intuit, the maker of QuickBooks Online, today announced it has acquired Australian cloud-based accounting practice management software provider Fifo and will be making the software free of charge to current and new accountant and bookkeeper users. Rich Walker, Director, Accountant and Bookkeeper Strategy, Intuit Australia said the acquisition of Fifo further cements Intuit’s Australian presence and commitment to providing real business solutions for Australian accounting practices. “The talented Mebourne-based Fifo team will join Intuit’s Accounting Professionals Division and will help us address a big pain point for accountants and bookkeepers, as well as support our business strategy to become Australia’s small business operating system,” Mr Walker said. 

“Our aim is to focus on the key areas accountants need to improve in order to run a more efficient and profitable practice. Our commitment to an open ecosystem and decision to keep Fifo platform-agnostic will ensure that existing users continue to run their business and collaborate with their clients with no interruptions,” he said. 

Former Fifo CEO Shane Macfarlane said he was excited to be working with Intuit and the opportunities ahead. “Our main focus remains helping accounting firms and bookkeepers around the world use online solutions to run a more efficient office and be more profitable,” Mr Macfarlane said. “With the power of Intuit, and the opportunities to integrate with its market-leading QuickBooks Online accounting solution, we’ll be able to accelerate the pace of delivery and dramatically increase the number of customers we can serve. “This is a great day for our company, our customers, and accounting professionals around the world,” he said. Rich Walker concluded that Intuit is not just a provider, but a partner to the small business and accounting and bookkeeping communities. “Our platform solution is designed to serve the needs of all these key groups in a way that helps them grow their own firm and makes their clients more successful,” Mr Walker said.