Intuit has acquired San Francisco-based startup Playbook HR for an undisclosed amount. This is just one of many recent acquisitions made by Intuit, bolstering its portfolio of services and products. So, what does the Quickbooks maker plan to do with Playbook HR?
Playbook HR is a StartX accelerator company that offers services for hiring and managing independent contractors. As more and more small businesses seek independent contractors, there’s a growing need for services such as those offered by Playbook HR. Of course, it only makes sense for Intuit to acquire Playbook HR given its focus on accounting and business management software.
According to a recent report published by CareerBuilder, there are an estimated 10 million self-employed jobs in the United States. Granted, this number has declined in the past few years, but millions of Americans continue to work for themselves without the constraints of a parent company. And with analysts expecting this number to grow in the upcoming years, the need for self-employment management software is apparent.
Intuit Vice President and General Manager Alex Chriss cited the growth of on-demand services as being a challenge for both contractors and marketplaces. What exactly is an “on-demand” service? Well, one example is the surge of new transportation services like Uber and Lyft. Rather than calling a taxi, individuals in need of transportation can fire up an app on their smartphone to locate an Uber or Lyft driver. These companies use independent contractors as their drivers, employing tens of thousands of hard-working men and women in dozens of countries throughout the world.
“The rapid growth of the on-demand economy has created new compliance challenges for both contractors and marketplaces,” said Alex Chriss, Vice President and General Manager. “Our mission is to serve both sides of this economy. We want to make it easier for independent contractors to manage their finances and pay their taxes, and we also want to make it possible for on-demand marketplaces to manage their growing rosters of independent contractors and help them stay within the compliance guidelines.”
- Other recent acquisitions Intuit has made in recent years includes the following:
- Cloud-based payroll service provider Acrede
- Cloud-based bookkeeping software Invicto
- Small business appointment scheduling software Full State
- Data consulting firm Level Up Analytics
- Small business marketing and customer communications software DemandForce