The deal, announced Thursday (Oct. 15), is designed to add new revenue management capabilities to Intuit’s financial intelligence system and boost its mid-market offerings. The company says it is not disclosing terms of the acquisition.
“As businesses grow, pricing, billing, and collecting on complex usage-based and milestone-based revenue becomes one of the biggest reasons they choose an ERP,” Ashley Still, executive vice president and general manager of Intuit’s small business and mid-market group, said in a news release.
“Sequence will let us deliver mature revenue management to customers, further extending Intuit Enterprise Suite directly into industries that increasingly leverage AI consumption models like B2B software and professional services. It’s a meaningful step forward as we deliver a powerful, AI-native ERP for growing, complex businesses.”
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According to the release, Sequence offers a revenue management platform designed to replace spreadsheets and manual billing workflows.
Intuit says Sequence allows it to give mid-market businesses and their accounting firms one platform to price, bill, and collect on revenue related to consumption, usage, seats and milestones. The deal also helps Intuit serve new industries, including B2B software and professional services.
“Revenue management has long been the most fragmented workflow in the back office. As businesses adopt usage-based and hybrid pricing, that complexity is only growing,” Sequence Co-Founder and CEO Riya Grover said.
“We built Sequence to automate the entire process, from contract to revenue recognition, with AI agents automating daily tasks and working securely alongside finance teams. With Intuit’s platform and reach, and our shared alignment on serving mid-market businesses and creating AI-driven financial workflows, this is a natural fit for both companies.”
Recent research by PYMNTS Intelligence has examined some of the challenges facing middle-market companies.
For example, “The Payment Guarantee Gap: Why Adoption Lags Despite Perceived Value,” an October collaboration with Plaid, found that 85% of the largest firms with $5 billion or more in yearly revenue evaluated or used a payment guarantee service compared to just 47% of their middle-market counterparts.
As PYMNTS wrote earlier this week, the research shows that many companies struggled to close the gap between digital ambition and daily execution, the report found. Although corporate executives recognized that payment guarantees can streamline back-office workflows, persistent concerns about software deployment and fee structures meant these companies didn’t always act on their beliefs.
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