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Intuit & Microsoft Want to Control Your Checkbook

Boot Camp feature for Wednesday, September 4, 2002

Intuit and Microsoft want to control your checkbook. Bloomberg Boot Camp, a report on today's technology. Intuit and Microsoft are out with new versions of their financial software packages Quicken and Money. Both do a great job letting users track bank accounts and investments and pay bills. Intuit has made the most significant changes to its market leading Quicken. Senior product manager Scott Sanchez...

"Quicken 2003 is the result of the largest customer research project we've ever undertaken since Scott Cook first launched Quicken version one almost eighteen years ago. One, Quicken 2003 makes it even easier to download your information from your bank, your credit card or investment company. So you don't have to spend that time typing in all that information. You can get on to managing your finances. And secondly, Quicken 2003 has a brand new design, it's incredibly intuitive and makes it really easy to answer key questions like how much am I spending on dining or how are my investments performing."

Microsoft has created a formidable challenger in Money 2003... .and has made it easy to switch with the ability to import Quicken files... ..but for long time Quicken users... .there is no real compelling reason to do that. In fact, says Sanchez... Intuit hopes to strengthen its market share...

"We are somewhere above 70 percent and we expect this year to be absolutely no different. In fact, we hope to grow it this year in fact."

Whether it's worth it to upgrade really depends upon how many features of the product you use. The slick new interface is nice, but if you're just balancing your checkbook... .your money is better off staying in the account. Bloomberg Boot Camp, I'm Fred Fishkin.