Tech News: Intuit introduces subscription-free QuickBooks Money
Intuit introduces the new, subscription-free QuickBooks Money; TaxBuzz launches AI-powered “vertical” search engine powered by professionals; and other accounting technology news.
Intuit introduces the new, subscription-free QuickBooks Money
Intuit has unveiled QuickBooks Money, a payment and banking solution with no monthly fees or minimum balance requirements, available to small businesses in a mobile and web-enabled experience without a subscription. The product is aimed at small business owners who may not initially need the QuickBooks platform’s full range of financial management and accounting capabilities but are still seeking a tool to get paid and manage their money. Once someone opens an account, they gain the ability to send a personalized invoice or payment request and let customers choose a payment method that’s convenient for them — credit or debit, ACH bank transfer, Apple Pay, Google Pay, PayPal or Venmo. Eligible payments can land in the user’s bank account the same day, on nights, weekends and holidays. They can use the free QuickBooks Visa business debit card, which enables access to over 19,000 Allpoint ATMs nationwide; use envelopes in QuickBooks Money to save for expenses and earn 1.75% APY on envelope balances; FDIC insurance coverage of up to $5 million via a deposit sweep feature, which works in the background to sweep balances above $250,000 to a network of FDIC insured banks; and track business income and expenses in one place to view how their business is doing and make financial decisions. Future planned enhancements to QuickBooks Money include subscription-free access to other QuickBooks small business solutions such as bill pay, in-person payments and lending. QuickBooks Money customers can upgrade to QuickBooks’ subscription-based services such as accounting, payroll and more anytime.
TaxBuzz launches AI-powered “vertical” search engine powered by professionals
Online accounting and tax community TaxBuzz announced TaxBuzz AI, touted as a “vertical” search engine designed to answer tax and accounting questions for both American taxpayers and industry professionals. TaxBuzz AI is an artificial intelligence-powered generative search tool that identifies answers to both basic and complex tax queries using material sourced from trusted sources, including a community of over 700,000 CPAs, EAs and tax professionals within TaxBuzz’s network. TaxBuzz AI was trained by a database of over 150 tax guides based on the U.S. tax code, thousands of articles, and a library of insights authored by industry experts. Each search result generated through TaxBuzz AI is vetted and peer-reviewed for accuracy. If a topic is not yet in the TaxBuzz library, TaxBuzz AI will scour the web for accurate, authoritative responses that will be fact-checked by human experts. TaxBuzz began developing TaxBuzz AI in the fall of 2022 and has been working closely with industry experts to create a vertical search system in the tax and accounting space.
BlackLine announces AI-enabled intercompany accounting capabilities
Financial transformation solutions provider BlackLine added AI-enabled intercompany accounting capabilities. Intercompany Predictive Guidance will be integrated into BlackLine’s family of financial management solutions. BlackLine’s Intercompany Predictive Guidance uses artificial intelligence, built upon a machine learning model, to analyze an organization’s transactional data. The applied AI then predicts where issues are likely to arise and pose a risk to financial close processes and data accuracy before the transactions are booked. It highlights high-risk transactions, explains risk factors, shows accounting teams where immediate corrections are possible, and provides guidance for future transactions. Intercompany Predictive Guidance will initially be available for BlackLine’s Intercompany Non-Trade solution, which manages and automates services-related transactions.
FloQast announces souped up Accounting Operations Platform
Diligent introduces custom dashboard solution
Governance, risk and compliance solutions provider Diligent released its Diligent One product. The new release builds on the last six months where Diligent has launched board and leadership reporting dashboards for ESG, audit, cyber risk and investor engagement. The new Diligent One solution provides the ability to customize and create dashboards using company data and systems. Combined with Diligent’s other solutions across governance, risk, compliance, audit and ESG, customers now have a connected view of risk management and the ability to capture and contextualize data and insights and report to the board. Diligent announced the release during the Modern Governance Summit. The solution is available in pilot phase now.
NordVPN’s releases cybersecurity browser extension, “Sonar”
Virtual private network provider NordVPN debuted its first experimental project under the NordLabs platform: an AI-enabled browser extension called Sonar that aims to help internet users detect phishing emails and protect themselves from cybercrimes. Sonar will warn users on how likely the email they received is a phishing scam. It will also point out which aspects of the email affected evaluation results and explain what signs to look out for. Sonar is currently available for Gmail users on Google Chrome, with more platforms to follow. NordVPN also plans to launch another project in the NordLabs platform in September. An AI-enabled tool called Pixray will help distinguish AI-generated images from those created through traditional means.