In a strategic move set to reshape the operational landscape for mid-market businesses, Intuit Inc. has teamed up with Cherry Bekaert, a leading advisory and tax firm. Together, they aim to introduce the Intuit Enterprise Suite, a robust AI-native enterprise resource planning (ERP) solution tailored to meet the complex needs of rapidly growing businesses. This partnership promises to simplify business management, enhance productivity, and ultimately drive profitability for small to medium-sized enterprises (SMEs).
The Intuit Enterprise Suite offers a modern, connected, cloud-based platform that integrates vital business functions into a single system. With this solution, businesses can eliminate the cumbersome reliance on outdated ERP systems and numerous separate applications, which often create data silos and fragmented operations. Small business owners frequently face challenges managing multiple software solutions that do not communicate effectively with one another; this leads to inefficiencies and impairs decision-making capabilities.
The new ERP suite addresses these issues directly. By offering multi-entity and multi-dimensional financial management, the platform allows businesses to centralize operations ranging from payroll and HR to project profitability analysis and marketing. Simon Williams, vice president of Intuit’s accountant segment, emphasizes the importance of this tool for scaling SMEs: “This partnership enables Cherry Bekaert to continue to meet the needs of its scaling clients with Intuit Enterprise Suite to streamline workflows and deliver proactive, data-driven insights that drive faster decisions and fuel profitability.”
The partnership will be particularly beneficial for businesses struggling with technology overload. Current trends show that many mid-market firms use up to 25 different applications to manage daily operations, leading to inefficiencies and disjointed processes. The Intuit Enterprise Suite targets this fragmentation by providing a cohesive platform that supports businesses beyond just accounting—enabling them to drive growth with integrated solutions.
One company already benefitting from this collaboration is Alamo Drafthouse Cinema. By utilizing the Intuit Enterprise Suite, ALamo Drafthouse has streamlined its financial management and reporting processes. Joseph Edwards, executive vice president of Cojeaux Cinemas, an Alamo Drafthouse franchise, remarked, “Intuit Enterprise Suite streamlines our finances and reporting, delivers insights that guide operations, and allows us to spend less time in the back office, so we can focus on what matters most: our team members and our guests.” This real-world example underscores the potential transformative impact of adopting such technology.
Moreover, Cherry Bekaert’s established Accounting Outsourcing practice positions it well to assist clients at various stages of growth. The firm plans to leverage the Intuit Enterprise Suite to offer tailored advisory services, further enhancing the value proposition for existing and new clients. Matt Brady, chief growth officer at Cherry Bekaert, noted, “Cherry Bekaert is focused on reimagining the future for mid-market businesses,” highlighting the firm’s commitment to innovative solutions that drive growth.
However, small business owners should also consider potential challenges. Transitioning to a new ERP system can present hurdles, including initial implementation costs and the time required for employee training. Furthermore, businesses must ensure that their specific needs align with the capabilities of the Intuit Enterprise Suite, which may necessitate a thorough assessment of unique operational requirements.
For those interested in exploring the implications of this partnership, Intuit and Cherry Bekaert will host a series of events in key cities including Chicago, Atlanta, Washington D.C., and Austin, Texas. These events are designed for CFOs, controllers, and business owners looking to modernize their financial strategies with comprehensive advisory offerings from Cherry Bekaert, coupled with the Intuit Enterprise Suite.
As the landscape for mid-market businesses continues to evolve, partnerships like the one between Intuit and Cherry Bekaert underscore the growing necessity for integrated, user-friendly solutions that support business scalability. With tools that promise to simplify operations and empower better decision-making, SMEs can look forward to a future where navigating complexities becomes a far less daunting task. For more details on the partnership, visit the original press release at Intuit.
Image Via Intuit
