Intuit agrees to acquire Sequence to expand AI-driven B2B invoicing and collections

Intuit has agreed to acquire London-based revenue management company Sequence, expanding its presence in business-to-business invoicing, collections and automated revenue administration as it targets larger corporate customers.

The US financial software group announced the agreement on 15 October, saying Sequence’s technology would strengthen Intuit Enterprise Suite and QuickBooks Online Advanced by connecting pricing, billing, payment collection and revenue recognition within a single workflow.

Financial terms were not disclosed, and the acquisition has not yet closed.

Sequence, founded in 2021 and operating from London and New York, provides software designed to automate the process from an initial commercial agreement through to collection and recognition of revenue.

Its platform supports complex business pricing arrangements, including subscription-based contracts, usage-linked charges and payments tied to project milestones.

These arrangements can create operational difficulties for corporate finance departments because the amount owed by a customer may depend on changing consumption, contractual conditions or delivery performance rather than a straightforward fixed-price invoice.

Intuit intends to incorporate Sequence’s capabilities into its wider financial software products, potentially allowing businesses to connect commercial agreements more directly with invoice generation, collections and accounting records.

The acquisition has a particular connection to working-capital management. Inaccurate billing, delayed invoicing and inefficient collections can extend the period between delivering goods or services and receiving cash.

Automating these processes may reduce administrative delays and improve the quality of receivables data available to treasury and finance teams. However, Intuit has not disclosed quantified improvements in collection periods, bad debts or working-capital performance attributable to the proposed integration.

The transaction is also distinct from traditional invoice finance. Sequence does not, through this acquisition, become a provider of disclosed receivables funding or factoring facilities. Its relevance lies in the infrastructure used to create, monitor and collect payment obligations.

Intuit said Sequence co-founder and chief executive Riya Grover and her team would join its mid-market product organisation. Existing Sequence customers will continue to receive support, with an integrated offering planned for development over the coming months.

The agreement illustrates growing interest among financial software providers in controlling more of the corporate revenue cycle, moving beyond accounting records towards the processes that determine when invoices are issued, monitored and ultimately paid.