Deloitte is now offering a platform allowing small and medium-sized businesses (SMBs) across Canada to gain greater control of cash flow.
The company's Deloitte Private unit announced the launch of ctrl on Tuesday (Sept. 19). ctrl is a cloud-based platform providing accounting, payroll and analytics solutions for Canadian SMBs.
The tool integrates bookkeeping and management of financial statements, as well as both personal and corporate tax returns, the company added, and acts as a platform to facilitate collaboration between accountants, bookkeepers, business owners and other service providers. The ctrl solution also bridges small business owners with a Deloitte adviser to manage company performance.
“Business owners today face pressures that are different from their predecessors,” said Deloitte private managing partner Mike Runia in a statement. “They need innovative technology and customized solutions that are based on reliable facts and figures. When businesses have up-to-date information in real-time, they're at an advantage to make better business decisions.”
Deloitte rolled out ctrl at the same time it announced the results of its latest survey of Canadian small businesses. The research found 70 percent of SMB owners feel there is an information vacuum leading to a lack of insight into their companies. Most (56 percent) said this information vacuum holds them back, while 23 percent said business owners are forced to rely on gut instincts, not hard data, to make business decisions.
The company added that ctrl is offered in three packages with different levels of services for business owners and their service providers.
“Compliance and accounting are commonly viewed as obligations that businesses prefer to complete in the most efficient and smooth way possible,” said Deloitte private audit partner Mark Wayland in another statement. “By reducing the workload involved with accounting and compliance in a cost-effective manner, ctrl by Deloitte enables business owners to focus more time and resources on their core business.”