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Intuit CFO Sandeep Aujla, speaking at the Goldman Sachs Communacopia and Technology Conference, admitted the company has lost market share in its consumer tax business in recent years. He outlined a plan to build a comprehensive, end-to-end consumer platform, a strategy that began with the $8.1 billion acquisition of Credit Karma in 2020 and advanced when Credit Karma was placed under the same leadership as TurboTax. Aujla said Intuit aims to rebuild the DIY tax funnel to retake share, focus on growing new-to-the-franchise customers, and consider free or lower-cost tax services to reach price-sensitive consumers. He also highlighted cross-selling opportunities through Credit Karma's checking accounts and QuickBooks Free and QuickBooks Lite. Aujla noted stable macroeconomic conditions for small and midsize businesses, with cash reserves and hours worked trending up. Intuit's full-year revenue grew 14% to $21.4 billion for the fiscal year ended July 31, while the company cut 17% of its workforce, laying off about 3,000 people, according to Reuters.
Protiviti's latest global finance trends survey reveals that data security and privacy remain the primary concern for CFOs for the third straight year, with AI ranking sixth but showing significant upward momentum. The survey also finds that finance organizations still face challenges in measuring AI return on investment, with only 1% of respondents believing AI is driving major business transformation.
In the week ending September 4, multiple companies announced Chief Financial Officer (CFO) personnel changes: Pinterest's Julia Brau Donnelly will depart to join AI startup Sierra; Charter Communications' Jessica Fischer steps down on October 15; Deutsche Telekom appointed Dhananjay Mirchandani to succeed as CFO in May 2027; T-Mobile announced Jessica Uhl will become CFO in February; Teladoc Health hired Michael Grasher as its new CFO; Hershey promoted Dave Hulays to CFO; CarGurus appointed Matthew Mandel as CFO; Herbalife CFO John DeSimone also serves as interim CEO.
Campfire, a modern ERP platform for growing finance teams, announced the launch of Migration Agent on September 3, 2026. This AI feature is designed to automate the most time-consuming aspect of ERP system transitions—the migration and validation of historical financial data. Traditional ERP implementations require weeks or even months of manual data preparation, whereas Migration Agent compresses general ledger migration to about 15 minutes while retaining manual review checkpoints and automatically generating account-by-account, month-by-month reconciliation workbooks.
Data released by the Institute for Supply Management (ISM) on Thursday showed that the services PMI rose to 55.4% in July, up 1.3 percentage points from June, exceeding market expectations. Despite tariffs and the Middle East conflict putting pressure on supply chains, 12 service industries reported growth. Federal Reserve Governor Waller said the same day that the strong services sector supports economic expansion, but inflation remains the focus of policy attention.
Uber Technologies announced on Wednesday that it plans to reduce its global workforce by approximately 10% as part of a major organizational restructuring. In a memo to employees, CEO Dara Khosrowshahi stated that the company will focus on its biggest growth opportunities by removing layers, simplifying team structures, and optimizing its global deployment strategy. Although the company's second-quarter revenue increased 12% year-over-year to $14.2 billion, the complexity brought by growth prompted this adjustment.