I began this at 4 AM Sunday, too excited to sleep until almost 11 AM. I am using my Florida home computer from Massachusetts, during a short visit with my programmer son and his family. My excitement relates to a meeting tomorrow with my new hero, Alex Chriss. He runs the new Intuit Federated Applications effort. Why will Intuit Federated Applications soon revolutionize your life, even if you never hear of them again?
In 2001 a U.N. committee said we could save
two trillion dollars a year ($2.5 trillion in 2009) with international e-trade. This will start with better privacy standards, electronic signatures, standard business forms and uniform e-business standards. Banks, investors and creditors will better analyIze financial statements faster and easier, with no data entry or errors. It should provide big data entry savings, with better accuracy and automation of succeeding processes, for QuickBooks and QuickBooks add-ons that interface to QuickBooks. Remote accountants may later, for example, insure your bank statements automatically reconcile, as automatic cash flow projections send overspending warnings, loan requests, essential and discretionary purchases and transfers to or from investment accounts, all subject to your approval. This will be the best kind of a Stimulus program.
Intuit has 94% of the small business accounting programming market with QuickBooks and almost no home checkbook program competition with Quicken. QuickBooks has 100 international currencies and Intuit and its partners are fast increasing small – medium business offerings in many countries. This means only Intuit can link your wants and needs to the wants and needs of many small and medium companies everywhere, with big savings.
Intuit Federated Applications can quickly, easily and inexpensively link any web program to you and the four million companies using QuickBooks (and their 25 million employees), as well as the users of QuickBooks interfaces or QuickBooks add-ons. These Intuit federated Applications can use any programming language or database, while you get a simple single login. More than a thousand independent web developers are now working on Intuit Federated Applications, to provide QuickBooks interfaces to old and new QuickBooks add-ons. Intuit hosts and promotes the first seven.
Alex also supervises the QuickBase web database and the desktop QuickBooks Software Development Kit (SDK). Most of the Fortune 500 use QuickBase. In seven years of annual QuickBooks, QuickBase and SDK upgrades, no upgrade ever broke a QuickBooks interface between these products and the 600 or so independent QuickBase and QuickBooks add-ons. Intuit Federated Applications and these 600+ programs eliminate the error-prone duplicate data entry, increases accuracy and speed processing, while vastly extending QuickBooks into new areas. Thse QuickBooks interfaces and QuickBooks add-ons already do what the many Intuit Federated Applications soon will do, in terns of avoiding the expensive initial costs, upgrades, data conversion, training, consultants and staff of less tested bigger company programs. Together with increasing Intuit scalability, these QuickBooks interfaces, QuickBooks add-ons and Intuit Federated Applications give you 600+ reasons why your company will not outgrow QuickBooks.
One key to this is the integration CPAs and managers have fought for since the 1960s, when I became a CPA. Intuit founder Scott Cook spoke of a second key long ago: small business people and consumers do not want to rely on remote computers. Alex and his Intuit Federated Applications will not make us do that. He understands we badly need maximum integration of business processes. However, his web links will not make us depend on remote computers. Our accounting programs, QuickBooks interfaces, QuickBooks add-ons and some of our Intuit Federated Application will run locally. They will use web updates only when available
(are we screwing up software as a service - saas).
Intuit Federated Applications also should soon link 30+ million more Quicken, TurboTax, professional tax and other Intuit program users. However, even if they do not, Metcalfe’s Law will apply to Intuit Federated Application and QuickBooks interface and QuickBooks add-ons networks. Metcalfe was the inventor of Ethernet computer networks. He said network value does not increase by multiplying the network value to one user times the number of users. This is because each extra user can connect to each of the prior users. Therefore, Metcalfe’s Law says the value of the network doubles (increases geometrically) for each new user. That is, it does not go up 1, 2, 3, 4…, but 1, 2, 4, 8… A network with 10 users is worth 1,024 as much. A 20 user network it is worth a million times as much. An QuickBooks interface, QuickBooks add-ons and Intuit Federated Applications network will be immensely valuable. It will give us something like a black hole in space. That is, the Intuit Federated Applications network value will be so valuable and have so many users that it will draw in anything remotely near (all who learn about it). However, it will only tend to destroy those who do not link.
The best is yet to come, with Alex and QuickBooks interface - QuickBooks add-ons - Intuit Federated Applications being one more delightful step. By 2030, inventors and futurists like Ray Kurzweil predict we each will link to 1,000 computers. Some will be as smart as we are, or we would be without them. This will largely automate our learning and adapting. They will be able to inventory our refrigerators and automate our orders and meal preparation. They will be able to schedule appliances, cars and us for convenient repairs and maintenance, at fast, easy, inexpensive and reliable locations. They also should, about then, help us conquer most diseases, while manufacturing and installing replacement body parts
(The singularity is near).
Until then, this is only URGENT for web developers, programmers, those wanting inexpensive custom programs, consumers and investors. You have until Monday noon to make sure I ask Alex your Intuit Federated Application questions (this time). Of course, I will be available to you at any time for
QuickBooks accounting software help.