MPact » Insight
How the Cloud Can Ease Your Business Recovery
By Shayne Dueck, National Leader, Client Accounting and Bookkeeping Services
As you move through the pandemic recovery phases for your business, it is critical to know where your finances stand at any point in time, and what’s really generating revenue.
- A cloud-based accounting and bookkeeping solution provides financial information faster than ever before.
- Cloud-based services help identify how pandemic-related costs are impacting your bottom line and make the necessary adjustments.
- By automating repetitive tasks like invoicing, expense and payroll you can focus on meeting customer needs.
Business owners need access to recent data to inform strategy. The traditional ways of managing finances may not give you what you need in time and pre-pandemic comparison numbers are only of limited use.
Many businesses now have significant new costs for personal protective equipment (PPE) and increased cleaning measures that need to be considered and monitored. Businesses may be accessing government supports like the Canada Emergency Wage Subsidy program (CEWS), or Canada Emergency Rest Subsidy (CERS) program. To continue qualifying for these programs, organizations need to provide regular financial information.
Under traditional accounting and bookkeeping systems, this can be a time-consuming process that takes you away from your goal: getting your business back on track.
That's why we recommend our clients use a cloud-based accounting and bookkeeping solution that can provide financial information faster than ever before, empowering you to make decisions informed by data instead of relying on your gut.
MNP’s new “ease” bookkeeping services is a cloud-based service that helps business see exactly how pandemic related costs are impacting their bottom line and make the necessary adjustments to your business model. With ease, owners can access the information needed to qualify for programs and can access their MNP advisors to help fill in any gaps or answer questions about applications.
These two benefits come back to one key resource: time. As a leader, your team needs you out front to focus on the health and safety of customers, not in your office. And in the time away from work, you want to be present with family instead of sorting through financials at the kitchen table. Ease can help you by automating repetitive tasks like invoicing, expense management, or payroll. We’ve seen our clients recapture hours of work each week by adopting ease and letting automation take the wheel.
If you’re looking to get back some of your time, talk to us about getting started on adopting a better way to manage your finances. Once you’re on board, our advisors can help show you opportunities for growth and help you find your way forward.
Visit www.mnp.ca/ease to get started on recovering some of your time.