Dueling Fools
June 16, 1999

The War of 99:
Money v. Quicken

The Quicken Rebuttal
by David Wolpe ([email protected])

I think it's fine, Bill, that you point out that Quicken should be seriously afraid of Microsoft Money 99. Perhaps "afraid" overstates it a bit, but nonetheless, anything that drives the industry to raise the bar and to refine the product is a good thing. Competition drives quality. So the question is, which of these products is better?

I have no doubt that Money has an enormous array of resources. So does Quicken. (Quicken.com consistently rates at or near the top of financial websites and the company has gone out of its way to integrate the Web and the desktop.) My point, though, is precisely that there is too much information to be gleaned about finances, and that simplicity and customization therefore become the key. If the software answers a million questions, but if you can't figure out how to find the one you're looking for, you're frustrated and the software hasn't done its job.

Let's not take my word for it. Let's look at what the public and the press have to say.

First the public, which is to say, "Who's buying what?" According to PC Data, Intuit sold about 350,000 units of Quicken in calendar year 1998, versus Money's 65,000. This translates to an 84% market share. Nor is it standing still: Quicken 99 represents 65% of the unit growth and 75% of revenue growth in Personal Finance software. Among PC-owning households, three-quarters consider Quicken to be the leader in this category.

Let's not forget that the competition isn't exactly Mom and Pop's Freeware/Lemonade Stand. It's a little company called Microsoft. Quicken continues to dominate, and a high percentage of its sales come from upgrades (read: users who are happy with the product in each of its succeeding iterations).

Bill, you mentioned a review that gave the nod to Money. I submit that Quicken continues to dominate in this area as well. Following are a few examples: PC Computing gave its MVP Award for Best Personal Finance Software and Best Banking Service to Quicken 99. C-Net wrote in September: "Last year, these two financial managers duked it out to a draw. Not so now. This year, Quicken is the monetary big dog." Home Office Computing said, "Quicken Suite 99 is more intuitive and pays better attention to your tax situation." Family PC, November: "The 1999 editions of Quicken and Microsoft Money are now on the shelves, and I'm finding this year's Quicken Deluxe particularly psychic. It keeps giving me the information I want before I ask for it." Money, December: "I continue to find Quicken easier to use -- maybe it's because it has tracked our financial history for nine years."

Oh -- and that Codie Award I mentioned -- it was presented in March by the SIAA (Software and Information Industry Association) to Quicken for the Best Consumer Software Upgrade. They ain't standing still on that front, either.

My contention isn't that Microsoft Money is bad -- it's just that Quicken is better. It's easier, more intuitive, dominates the marketplace, and retains its customers.

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