Intuit Expands Money Management Offerings With Deserve Acquisition

Company Acquisition - Intuit is preparing to acquire mobile-first credit card platform Deserve to enhance its money management offerings [1] - The acquisition will include key technology and team members from Deserve, aligning with Intuit's strategy to address cash flow management challenges faced by businesses [2] Cash Flow Challenges - Over 80% of business failures are linked to cash flow issues, highlighting the critical need for effective cash management solutions [2] - Approximately half of small and medium-sized businesses (SMBs) rely on immediate sales or existing cash for survival, indicating a vulnerability in their financial strategies [3] Financing and SMB Stability - Many SMBs not utilizing financing claim it is unnecessary, yet they also lack access to such resources, which is crucial for stability and growth [4] - Nearly 70% of SMBs hold less than four months' worth of cash, making them susceptible to financial disruptions [5] CEO Concerns - 45% of global CEOs recognize the need to assess their business models to optimize cash flow, with heightened concern among smaller firms [6] - 56% of CEOs from businesses earning less than $100 million express worries about their long-term viability if cash management practices do not improve [6]