Krishna made that statement in the webcast of a presentation at the BofA Securitas 22 Global Technology Conference.
The software company will continue to go after the business of stores, CPAs and Enrolled Agents, Krishna said, citing what Intuit see as “a lot of inefficiency in that space.”
In the last few years, Intuit itself has hired thousands of accountants to provide tax preparation services. This includes answering questions via in-product links through its TurboTax Live program and its newer Live Full Service offering in which Intuit preparers provide full tax preparation services.
With the talent pool Intuit has acquired through these programs, “it is now time to go after this market,” Krishna said.
Krishna said Intuit’s research show consumers value the “speed of the outcome” and are also looking for virtual products and services. In addition, he said, “we have offered an assisted offering at a destructive price.