Orleow's move to Intuit comes at a key time for the accounting software maker.
The background: QuickBooks has evolved into an all-in-one FinTech platform that allows users to manage getting capital, accepting payments, paying employees, and more, a spokesperson for the company notes. The hire represents a continued shift in the company’s strategy as it looks to double down on partners and the channel, the spokesperson adds.
In his LinkedIn note to peers, Orleow wrote:
Colleagues and friends,
After 19 rewarding years at Microsoft, I am taking on a new role at Intuit as Vice President of Global Partner Channels, starting September 8th.
At Microsoft, I had amazing opportunities and experiences, helping to build global partner ecosystems across Microsoft’s cloud businesses. Now I get to take my passion for building global partner channels and apply it to small businesses via QuickBooks. QuickBooks has been the partner of small businesses for more than 20 years, helping customers achieve success.
Empowering small-to-medium-sized businesses is more important than ever. When Covid-19 upended the business community, QuickBooks was able to build tools that helped its customers get more than $1 billion in SBA-approved PPP loans and save hundreds of thousands of jobs. Where Intuit began managing the books with software products, it has since grown into a platform that simplifies the operations of business, from payroll to capital, to payments where more than 1.2 trillion invoices are created in QuickBooks each year and $55 billion payments are processed. More growth in spaces like payments and commerce are on the way and that is part of where a robust partner ecosystem will come in. I am thrilled with the opportunity to be part of building this ecosystem for greater customer success.
Meanwhile, Intuit also is striving to build a new partner and VAR ecosystem to engage mid-market customers, Intuit CEO Sasan Goodarzi disclosed in a June 22 email to employees.
The company has been evolving its talent mix to address new opportunities in data science, data engineering, mobile, and native cloud services. The business evolution involved cutting 715 employees, but also hiring 700 people to focus on those emerging business opportunities.
Intuit Financial Results
Intuit remained in growth mode ahead of Orleo's arrival. For its fiscal year ended July 31, 2020, Intuit:
- Grew revenue to $7.7 billion, up 13 percent year-over-year.
- Grew Small Business and Self-Employed Group revenue by 15 percent and Online Ecosystem revenue by 31 percent. Excluding nonrecurring PPP revenue, growth was 14 percent and 30 percent respectively.
- Grew Consumer Group revenue 13 percent.