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Our comprehensive suite of business services combines industry expertise, market knowledge and professional insights.
MNP is a leading national accounting, tax and business consulting firm in Canada.
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MNP careers are Different by Design. As an entrepreneurial firm, we truly believe there are no limits to where your career can go.
From early March, when the COVID-19 pandemic forced employees around the world to begin working from home, companies have been forced to examine how to make their processes more efficient and effective online. Rather than tackle these challenges individually, cloud and digital solutions can integrate essential processes like accounting, bookkeeping and finance into one system — reducing costs and improving sales.
As a start-up, you’re not bogged down by on-premise legacy systems many enterprises use. That puts you in a great position to harness software-as-a-service (SaaS) solutions and customize these as your business grows. These also allow you to better manage your finances, which is critical to success.
Some use cases for a cloud solution include:
While cloud finance solutions can help build your business, having the right partner can help you turn insight into action. Human expertise and knowledge can help you interpret your financial data, and make critical decisions, and develop evidence-based action plans.
Hiring senior in-house talent might be costly for your early stage enterprise, but this is where a business advisor can step in. They can be a point person on a fractional basis, helping you save money while also getting the right insight for the situation.
The right advisor will want to understand your business and how they can help you create value. They will ask you a lot of questions about the business beyond your day-to-day accounting needs. You can also take advantage of their experience and expertise by asking your own questions and building your knowledge around the needs and challenges of managing an effective accounting function.
The right advisor will explain important matters in a way that is concise and understandable, especially if accounting and finance aren’t your areas of expertise. They can also help you avoid the trap of buying a one-size-fits all solution, and instead find the one that’s right for you. You’ll save time and money — and end up with a platform that addresses the most important factors in your organization.
Begin with an assessment of your organization's improvement and growth areas. This will ensure the platform aligns with your strategic objectives and vision for what you want your business to become. Then, seek out a partner who has worked with organizations of your size and scope and thoroughly understands digital solutions. They should know the most appropriate applications and tools for your specific context.
Take time to evaluate your advisor’s expertise. Pay careful attention to whether the total solution they suggest will enable you to better monitor and measure your business’ key metrics and key performance indicators (KPIs). And, whether it will go beyond your organization’s current needs to integrate with any future digital solutions you invest in. Draw out your company roadmap and walk through it with your advisor. They should immediately understand your growth path and demonstrate the expertise to guide you.
To find out how an MNP advisor can help align your technology, strategy, and vision to help you achieve your goals faster, or for a deeper conversation on cloud finance solutions, contact Reece Hiland, CPA, CA at 647.943.4048 or [email protected]
Related Topics:Technology; COVID-19
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