KPMG in Canada on Monday launched Finance Plus, a cloud-based accounting offering it said is designed for “small- and medium-sized business owners who lack the time or in-house expertise to manage their bookkeeping and financial reporting.”
Of note is that in addition to a series of software accounting tools and packages, anyone signing up for the service will also qualify for personalized support from a “dedicated” KPMG accountant.
Mary Jo Fedy, national leader, KPMG Enterprise, said Finance Plus was created for “entrepreneurs who want to focus on running their growing business, and don’t have the time or in-house expertise to manage their bookkeeping.”
A recent KPMG survey found that a majority of Canadians (88%) said small- and medium-sized businesses in Canada have been the economic victims of the pandemic and many continue to struggle due to lockdowns.
A further 91% of respondents said the pandemic has shown a real need for Canadian businesses to strengthen their online presence and digital capabilities.
“Over the past year, few business owners have been able to escape the economic stresses of the pandemic, and those who have accelerated the shift to digital are better positioned to succeed,” Fedy said.
“Whether a business is currently thriving, secure or challenged, owners need an affordable technology solution that provides an accurate picture of the health of their business in real time.”
The sign-on platform provides access to selected software tools including QuickBooks Online, Xero, Hubdoc, Dext, ADP and Wagepoint, and contains the following services:
- Daily transactions
- Digitized bookkeeping
- Accounts payable/receivable
- Payroll management
- Management reporting
- GST/HST and provincial sales tax
- Bank and credit card reconciliation
Finance Plus, the audit, tax and advisory firm said, will be targeted at entrepreneurs and business owners who do not have a dedicated bookkeeper, controller or accountant on staff, would benefit from standard reporting and analytics, need help managing financial processes including bookkeeping or payroll, are currently managing paper-based financials, want better insights and KPIs from their financials and are using existing bookkeeping software, but considering outsourcing
In terms of pricing, KPMG said it is tailored to a client’s budget and business needs, with the ability to scale up as a business grows.