BigTime Announces Licensing Agreement With Intuit
Development Deal will Embed Proprietary BigTime Technology in Intuit Practice Management Suite Under Multi-Year OEM Agreement
CHICAGO (December 05, 2011) – BigTime® Software, Inc., a leading provider of cloud-based productivity tools for growing professional services firms, has announced an OEM licensing agreement with Intuit Inc. (NASDAQ: INTU). Under the terms of the development deal, BigTime will work with Intuit to embed BigTime’s core time, billing, and practice management functionality into a product that targets accounting professionals.
This agreement highlights Intuit’s recognition of BigTime’s ongoing leadership in terms of seamless integration with Intuit’s QuickBooks applications
“Intuit selected us from a broad field of potential partners based on our proven technology, scalability, and interoperability with third-party platforms,” said Brian Saunders, CEO and founder of BigTime. “This co-development agreement will bring accounting professionals the combined value of an Intuit-BigTime product, and will enable them to access their business information where and when they need it.”
“At Intuit, we strive to deliver products that help accounting professionals save time within their workflow so they can spend more time growing their practices,” said Aaron Brady, product manager in Intuit’s Accounting Professionals Division. “The integration of BigTime’s technology into our practice management suite helps us achieve those goals on behalf of our customers.”
The agreement underscores the strength of BigTime’s multi-channel strategy for growing their market presence.
“OEM agreements give BigTime the ability to scale rapidly while giving partners, like Intuit, instant access to leading technologies without going through their own development cycles. I think there’s great potential, not just for this partnership, but for embedded partners in other industries as well. It’s part of what makes BigTime more than just another cloud-based software firm,” said Tim Krauskopf, co-founder of Spyglass, Inc. and a member of BigTime’s Advisory Board. Spyglass’ rapid growth, culminating in a $2.5B acquisition in 2000, was fueled by licensing agreements with Microsoft, Oracle and others.
About Intuit Inc.
Intuit Inc. is a leading provider of business and financial management solutions for small and mid-sized businesses; financial institutions, including banks and credit unions; consumers and accounting professionals. Its flagship products and services, including QuickBooks®, Quicken® and TurboTax®, simplify small business management and payroll processing, personal finance, and tax preparation and filing. ProSeries® and Lacerte® are Intuit’s leading tax preparation offerings for professional accountants. Intuit Financial Services helps banks and credit unions grow by providing on-demand solutions and services that make it easier for consumers and businesses to manage their money.
Founded in 1983, Intuit had annual revenue of $3.9 billion in its fiscal year 2011. The company has approximately 8,000 employees with major offices in the United States, Canada, the United Kingdom, India and other locations. More information can be found at www.intuit.com.
About BigTime® Software, Inc.
BigTime® Software, Inc., develops cloud-based productivity tools for growing professional services firms and licensed OEM partners. The highly customizable, browser-based interface for practice management allows professional services firms to instantly deploy and connect BigTime® to existing back-office services. OEM partners license BigTime technology as the critical component of their accounting and productivity suites. BigTime is an Intuit Gold Certified Developer and a member of the Microsoft Partner Network. Founded in 2002, the company is venture capital backed with thousands of customers in the United States, Canada, UK and Australia. For more information, please visit www.bigtime.net.
Source: Intuit Inc.