Intuit Abandoning Quicken

I for one will be writing a letter to Intuit this weekend telling them of my absolute distaste (and more importantly, I won't buy into it) for their plans to sunset the desktop version of Q. I will not put my data that I currently have on my PC on the web due to access potential (hell, they can't get their quotes downloads right much of the time, you expect them to have your data always available when you need it), as well as (of course) privacy issues.

It will be tough, but I'd rather go back to a spreadsheet system if I had to.

Check out GnuCash for Windows. It has a steep learning curve, but it does work.

Hi, Gordon.

Thanks for that link!

Not only did I learn some things from Patzer's interview in the first two segments, but I enjoyed the 3rd segment on Adm. Grace Hopper, too.

I'm one of the folks in the demographic that Patzer is discussing (condescendingly and disparagingly?), of course, and I share the reluctance of many (most?) Quicken users to have my financial data at the FAR end of my Ethernet cable rather than here in my converted bedroom. But my tendency is to wait and watch developments before making my decision. Perhaps before the end of the 5-or-so-year transition phase-out of Quicken desktop there will be something even more suitable - for me - than what I could choose from today. So, I'll keep using Quicken for now and keep watching for the next stepping-stone, whether a newer Quicken or Mint or a step in another direction.

In any case, it's better to be able to see it coming than to be blindsided in a few years.

RC

The article also says that Quicken has 10 to 12 million customers who generate $100 million in revenue. While MINT attracts younger users who get it for free. Heck, make Quicken free, and I'll bet it will attract more customers also. Of course, the revenue might take a hit.

I like this part of the article.... During the TV interview, Patzer got in a dig at Quicken, whose cumbersome operation he has said helped inspire him to create Mint. Quicken appealed to an "anal-retentive-type personality who wanted to make sure everything was penny perfect," he said.

I wonder if he is the anal retentive type, or if it would be OK for me to be off a few pennies when I buy the next version of Quicken. $59.99.... Sure, here is the $.99. Write off the rest as less than penny perfect. We wouldn't want to be anal retentive about the price. What a jerk!

Well, I'll keep buying Quicken as long as it is available in the current form. But, I sure won't be buying any Intuit stock.

-- Jim

-----------snip---------------------------

Well, please read this blog posting from Patzer.

Have a look at the comments as well.

The man is an idiot and he thinks his "customers" are jerks and speaks to us as such. As a Mac user, I'm supposed to think this guy is really cool because he just recently converted to the Mac and because there's all sorts of eye candy in the incredably dumbed down "Quicken" "essentials" product that can't do much of anything other than draw some useless graphs.

Dear Quicken for Windows users: look at this new "Quicken" "Essentials" product for the Mac and don't snicker-its YOUR future.

R.C.

I like you am:

"I'm one of the folks in the demographic that Patzer is discussing (condescendingly and disparagingly?), of course, and I share the reluctance of many (most?) Quicken users to have my financial data at the FAR end of my Ethernet cable rather than here in my converted bedroom."

Me thinks that the morons at Intuit and Mint just issued a competitive challenge to some enterprising individual(s) to come up with a new "desktop" product. Until the network and operating system "gurus" can come up with a safe and secure internet, I'll keep my stuff at home, Thank you.

I've been struggling lately with dealing with various companies "tech support" departments. With arrogant "sob's" like Patzer and the rest of the IT worlds executives, it's no wonder the tech support is so "crappy" to the extent of almost being nonexistent. I get much quicker, clearer, and responsive information for forums and newsgroups like this. At least peer-to-peer support is made up of knowledgeable people who enjoy volunteering their time to help others.

We knew this day was coming, but I sure hate to see it.

Well this is one anal retentive older user, that will NOT be converting to any sort of online financial management system. I will continue to use Quicken for my desktop as long as it is available and supported, when it is not I will then either change to hopefully another desktop software brand that will do the same ( hopefully someone will step up to the plate), or I will no longer use anything other than my online banking's website.

It has failed to import properly for me.

I think Mr. Patzer will find that those older users he so maligns are the only ones that will pay for the product that keeps him in business. The 20 year old folk that helped him build Mint will not pay $50 for something they have gotten for free for these many years. This loss of revenue will not appeal to those on the board that tend to be those old folks that keep him employed.

5 years (or more) is a long way out and my guess is Mr. Patzer will be long gone from Intuit by then so he can take his arrogance and lofty ideas else ware. He does have a good product in Mint and Intuit could stand to make some changes to the Quicken product. Quicken online was not worth the effort I am sure. However, Quicken is a stabilized product that does generate revenue and I can believe that it will be a hard sell to eliminate it entirely. The catch is that Quickbooks is the real money maker for Intuit so the focus my lay there for them.

Just my nickels worth. john

From: "John"

| I think Mr. Patzer will find that those older users he so maligns are | the only ones that will pay for the product that keeps him in business. | The 20 year old folk that helped him build Mint will not pay $50 for | something they have gotten for free for these many years. This loss of | revenue will not appeal to those on the board that tend to be those old | folks that keep him employed. | 5 years (or more) is a long way out and my guess is Mr. Patzer will be | long gone from Intuit by then so he can take his arrogance and lofty | ideas else ware. He does have a good product in Mint and Intuit could | stand to make some changes to the Quicken product. Quicken online was | not worth the effort I am sure. However, Quicken is a stabilized product | that does generate revenue and I can believe that it will be a hard sell | to eliminate it entirely. | The catch is that Quickbooks is the real money maker for Intuit so the | focus my lay there for them.

| Just my nickels worth. | john

This "older" user still uses Quicken 8 - Rel 7 for DOS :-)

"During the TV interview, Patzer got in a dig at Quicken, whose cumbersome operation he has said helped inspire him to create Mint. Quicken appealed to an "anal-retentive-type personality who wanted to make sure everything was penny perfect," he said."

Gee...

Does this mean that he doesn't think it's too important for his products to keep accurate records or produce accurate results?

Now, that's interesting.

Thanks for posting this. I needed to know this in order to make my transition plans. Damn, I just went through the MSMoney -> Quicken transition too.

I don't think we will wait 5 years for Quicken to fall apart. Since the chief has already decided to kill the product, no more meaningful work will go in to it. The software developers at Intuit already know it is a dead product, they don't give a shit about it. The company management is not going to lavish resources on it. Quicken is going to be a big mess in 2 years, max.

The only options I can see now are - Money Dance - Ace Money - Gnu Cash

None of these can hold a candle to Quicken. Whichever product you commit to, you are going to lose functionality versus Quicken.

With all that revenue that Quicken desktop has generated from I guess primarily us older anal retentive users. I would have to think someone else will see a grand opportunity there and be more than willing to develop a product to fill that void for us. We will just have to wait and see...

Let the Record show that snipped-for-privacy@panix.com (David Arnstein) on or about Sat, 16 Jan 2010 00:34:35 +0000 (UTC) did write/type or cause to appear in alt.comp.software.financial.quicken the following:

I've already "lost functionality with Quicken". That is to say, the "improvements" got in my way, and then I could no longer use it to get bank data or stock quote unless I bought the upgrade. Gee, thanks, less of what I need, and more of what I don't want.

One of these months I need to actually break out the spreadsheet program from "You Need A Budget" and get it fully set up. But it does let you see "I have X dollars budgeted for this months, and I have spent Y, better be 'frugal' the rest of the month."

- pyotr filipivich. Just about the time you finally see light at the end of the tunnel, you find out it's a Government Project to build more tunnel.

It's supposed to import QIF files from Quicken "export all", or whatever it is. But it still has problems, for sure. Less bugs in the Linux version that I learned on.

As painful as it is, I find the best method to use GnuCash is to draw up a Chart of Accounts and create the GnuCash accounts from the Chart. It's painful, but it does help to rationalize the mess of categories you used in Quicken. There are a lot of things I simply don't need to track, that can be collapsed into a single account (category). Over the years, my categories grew willy-nilly.

Then, export your main Quicken Accounts one by one, and adjust Opening Balance for each account as needed.

It's work, no getting around that. Hopefully, the small band of dedicated fanatics will get the import bugs fixed for Windows.

I am using GnuCash now in Windows XP along with Quicken 2010. No serious problems, but it is work, I don't deny. Still, I now have a fall-back if and when Quicken is killed off.

I agree that they are going to try and end sending all the disks out to people. As of now, it is pretty much just a key anyway and you download all the updates from Quicken. I want an online version of Quicken but the one they are end-of-life-ing is dreadful. Mint isn't bad but I have a few things that I need and it won't do.

Right now I carry a thumb drive with my Quicken file on it to work, home, upstairs, and anyplace else where I might be using a computer. Going to the web would be MUCH better.

As far as security, I don't trust any of them and take other measures. One of the reasons I use Quicken is to download all my account transactions daily. I have twice found shady activity. I also take advantage of the 3 credit agencies annual free look to check my credit report 3 times a year.

I work in IT and it looks like all computing is going to the cloud. This is just one more application. If I could find an internet based program that was as robust as Q offline is, I would move in a heartbeat.

Thanks

I can't wait until a glitch like this one:

gives someone unintended access to online mint.com accounts that are not their own.

Wow. Where have we heard this kind of CEO arrogance before?

Oh, yeah. From all the know-it-all snots who spear-headed the "new paradigm" of web-based sales and services that left their companies in ashes after the dot-com bust. ("It's all about the eyeballs, dude.") They're the Masters of the Universe, we're just the pitiable little pukes who still think that value and performance in our purchases still matters, as does a business model that's not built on sand.

I got Quicken to do anal-retentive accounting and analysis of my checkbook, make it easy to capture data to put into TurboTax, and running far behind in third place, to keep an eye on my 401k (at which it is only so-so in calculating performance but that's okay because I also spreadsheet it daily and run my own custom calculations). I'd be a loyal Quicken buyer and user forever - we doddering old farts tend to be that way - even with their obnoxious 3-year cycle of "upgrade now, your current version drops dead because we're going to sabotage it again" marketing methods.

As to the other services mentioned in the story, on the rare occasions when I'm considering refinancing my mortgage, I'm not going to pay for "Mortgages for Dummies" services. I can check rates and run the numbers myself. I also can read and understand my medical insurer's EOBs - in fact I've occasionally found errors generated by their computers.

And it's not just the Geritol generation that doesn't trust the Cloud Cuckoo Land paradigm of cloud computing. Plenty of Gen-X and Gen-Y types read the stories about all the breaches and breakdowns of supposedly reliable and secure data storage. They are not amused, either.

I'd love to be at the stockholder lawsuit proceedings when this idiot has to explain that "Well, yes, we did kill off the PC-based Quicken cash cow and strangle the unit-sales goose that was laying the golden eggs but that's because we anticipated building a better revenue stream providing Mint's cloud computing services to a generation that expects everything on the Internet to be free. We considered the loss of millions of cash sales of PC-based products to be minor collateral damage when compared to the bigger picture of building ongoing relationships with customers for a unified array of Internet-based financial services."

If it sounds like I'm especially PO'd, it's because I am. I got hit with a one-two punch today. First, the promo Quicken 2010 CD came in the mail along with the death notice for my Quicken 2007. And now this.

It's not just arrogance, it's flat out ignorance. You don't ever, ever, ever announce an end of life for a product you don't have a ready replacement for.

Announcing an EOL 5 years ahead of time would get you an immediate fail in freshman marketing. All it does is upset your current base (who happen to be funding all that wonderful development you have planned) and encourage them to start looking for alternates. You've just given your competitors a five year head start on coming up with a competitive product.

I don't know what Intuit's board is thinking, but someone needs to have a heart to heart with this idiot.