Quicken moving to subscription model

[erkevin]

I have been a Quicken user for over 20 years- I have over 15,000 transactions under "checking" alone! Plus 11 other accounts tracked in the software. Losing Quicken would be a bit of a blow and a huge adjustment, but I am not going to spend more than $20 or $30/year for it. I will do budgeting in Mint and maybe start over with Money Sunset.

I did email the President

 

[erkevin]

and believe it or not, i just received a phone call from Quicken. It went to voice mail and stated that they would be calling again

 

[Hermit]

and believe it or not, i just received a phone call from Quicken. It went to voice mail and stated that they would be calling again

That's awesome! I'll be anxious to hear what they have to say.

 

[erkevin]

So the Office of the President just called back. The service rep confirmed the subscription service and that I would be getting the benefit of continued customer service with the subscription (as was described in another post above). I stated that in 20 years, I have never needed Quicken support, I do not use the automatic bank downloads. I said that all I want is a stand-lone program, as I do everything manually. I would be using a different product in the future. The rep apologized like 20 times (standard BS) and said that he would pass alone my concerns to the president.

 

[rodi]

That's awesome! I'll be anxious to hear what they have to say.

See post #71 in this thread (http://www.early-retirement.org/forums/f27/quicken-moving-to-subscription-model-85336-4.html#post1837167)

I give them props for responding to the fervor this has created... If enough people call and voice concern over the subscription model, they might change their mind.

A couple of points...
- 2 tiers of subscription.. the more expensive tier will give you a short cut to the front of the queue if you call for tech support. (I've never called quicken tech support, so I don't see needing that.) The less expensive tier will give you the same long hold times as current.

- When they release Q2018 in November, even Q2017 purchases will be subscription... expiring after 1 year. So if you've bought a Q2017... be sure to start it up before November or you may have missed that 3 year download opportunity. The lady from the presidents office said she was encouraging people to buy and start Q2017 for just that reason.

 

[Hermit]

So the Office of the President just called back. The service rep confirmed the subscription service and that I would be getting the benefit of continued customer service with the subscription (as was described in another post above). I stated that in 20 years, I have never needed Quicken support, I do not use the automatic bank downloads. I said that all I want is a stand-lone program, as I do everything manually. I would be using a different product in the future. The rep apologized like 20 times (standard BS) and said that he would pass alone my concerns to the president.

I think they will need all that extra money to pay for the poor folks that have to call back and listen to irate customers.

 

[explanade]

Intuit sold it right?

So the new company bought the product expecting to get subscription revenues?

 

[zinger1457]

Intuit sold it right?

So the new company bought the product expecting to get subscription revenues?

Quicken wasn't a big money maker for Intuit, only about 1% of their revenue. I'm sure the new owners are looking for ways to increase revenue. Even if they lost half their current customers they would probably generate more revenue thru the subscription model. I would be one of those dropping out (or keeping my 2016 version indefinitely), I've been paying about $10/year with discounted purchases, it's not worth a 300% increase.

 

[NW-Bound]

Quicken wasn't a big money maker for Intuit, only about 1% of their revenue. I'm sure the new owners are looking for ways to increase revenue. Even if they lost half their current customers they would probably generate more revenue thru the subscription model...

The question is how long the revenue stream would last.

Why does this remind me of the Aesop's Fable about the goose and its golden eggs?

By the way, I really use and need the stock quotes and the account transaction downloads. And I understand that the company must have some revenues to maintain the software and to keep up with Windows update, even if they add no new features to Quicken. So, I will pay for the subscription cost, but it cannot be outrageous. Even if I can afford it, it makes me mad to think that they can hold me hostage.

Raising the price several folds is going to alienate the customers, and once they have gone to an alternative product, they will not come back.

 

[jollystomper]

I last both Quicken Premier 2014 in May 2014 for $45. I think I purchased Quicken 2011 Premier in 2011 for less than that, but I'll use $45 for that as well. so my "yearly" cost has been $15 a year for the last 6 years. In my mind, that is not bad.

I'm looking at more from the perspective of "at what point will a price increase overwhelm the value I have gotten from it?"

I haven't asked any questions to Quicken support, primarily because the few things I ran into someone else had already encountered, and Google helped me find the solution. So for me it is more "how much time do I want to spend tracking my finances?"

I can build spreadsheets. I can write programs to download stock quotes. A lot of financial institutions allow you to download your data in a format that one can easily import into a spreadsheet or manipulate with a program (some provide Application Programming Interfaces - APIs - to access your data, but that comes at a price). The "core" things I use quicken for - tracking transactions and calculating my stocks/bonds/ETFs/funds value - I could do myself, if I wanted to spend the time. And do not rule out the several free Open Source alternatives to Quicken that may be fine for my needs.

So how much am I willing to not have to spend the time to do this? $30 a year? $50? $100? I have to decide. Off the top of my head, less than $50 I could deal with, but that is not with given much thought to it. What is my time worth? And I fine using a free but "community supported" product which might not have regular updates? And if it helps me catch errors equivalent to the yearly amount I pay for it, does that make it worth it?

I'm not saying I like the subscription model... but, I just have to consider the total tradeoff, if I want to stay the course and pay more, go back to "do it myself", or look at cheaper products or free Open Source alternatives.

 

[NW-Bound]

Yes, even if one can do something does not mean he wants to spend his precious time to do it. One thing I have noticed is that as I get older, I tend to be more impatient (I tell my wife perhaps it is because I feel my time is running out, and so I truly hate buggy software that wastes my time). Unless one enjoys developing software for personal use, it is of course more labor-effective for one programmer or a team to develop for many to use.

So, I hope that some crackshot developers will seize this market opportunity to challenge Quicken by coming out with a competitive product. There's money to be made here, and alienated Quicken ex-customers will lend plenty of market support.

 

[The Rodent]

So the Office of the President just called back. The service rep confirmed the subscription service and that I would be getting the benefit of continued customer service with the subscription (as was described in another post above). I stated that in 20 years, I have never needed Quicken support, I do not use the automatic bank downloads. I said that all I want is a stand-lone program, as I do everything manually. I would be using a different product in the future. The rep apologized like 20 times (standard BS) and said that he would pass alone my concerns to the president.

Ditto......... had the same basic conversation with the Office of the President. I am pleased they followed-up with the phone call. It's encouraging they are soliciting feedback

 

[burch64]

If I was not using Quicken I would use AceMoney. It is not the same caliber as Quicken but would fit my needs if I give up on Quicken.