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Intuit targets small business owners via mobile money management app

The MoneyDue app

Intuit Inc. is making it easier for small business clients to easily keep track of their finances with a mobile application that sets payment reminders.

The new app is part of Intuit’s Payment Network that helps businesses get paid faster and more efficiently. Intuit’s MoneyDue app is available for iPhone and iPod touch devices for free from Apple’s App Store.

“We observed that small businesses, especially small entrepreneurial businesses like freelancers, contractors and tutors, have three key workflows to run their businesses: set up service appointments, keep track of payments due and bill clients and get paid,” said Raj Ganesan, product line manager at Intuit PaymentNetwork, Mountain View, CA.

“Many of these businesses rely on manual billing for payment – they use tools like Word and Excel to track what they are owed and bill their customers,” he said.

“Their billing is triggered by their calendar appointments, but there is no organizing principle behind it, these tools are disconnected, hence the process is cumbersome and time consuming.”

Intuit provides money management services for small and mid-sized businesses.

Mobile reminder
Users who download the MoneyDue app have three choices in how to schedule a payment – they can either add a payment from their calendar, create a new payment or record a new due.

Users can sync events from their mobile devices into the app, type in how much the payment is and connect the payment with a person from their handset’s contacts.

Consumers can also create new payment forms by adding notes.

The app also integrates with the consumer’s email to send them messages on how much money they owe.

Users can send email reminders to pay a bill

Money management
The goal of the app is to combine all of a company’s payment information into one so that businesses can manage the finances while on the go.

Intuit has been upping its mobile game for a while now to make money management easier.

For example, the company recently launched an iPad app to help consumers and credit unions manage their finances (see story).

Additionally, the company acquired Mobile Money Ventures to increase its focus on mobile services for financial institutions (see story).

“With the evolution of the cloud and mobile devices, small businesses need to keep on top of their work and money flows anytime, anywhere and expect that the devices they use will all seamlessly work together – whether it’s an iPad/tablet, smartphone or a desktop,” Mr. Ganesan said.

Final Take
Lauren Johnson is editorial assistant on Mobile Commerce Daily, New York