2019-12-10 08:55:43 News English https://quickbooks.intuit.com/ca/resources/ca_qrc/uploads/2019/12/A7300734.jpg https://quickbooks.intuit.com/ca/resources/news/quickbooks-brings-ai-to-canadian-small-businesses/ QuickBooks Connect Toronto brings AI to Canadian Small Businesses

QuickBooks Connect Toronto brings AI to Canadian Small Businesses

4 min read

Canada’s global leadership position within the AI industry has been well documented – however, in a country where 98 per cent of businesses are small businesses, democratizing this technology to enable an equal playing field is vital for small businesses future success. 

With the rollout of new innovations announced today at QuickBooks Connect Toronto, QuickBooks is continuing its industry adoption and deployment of AI and ML technologies, and staying true to its mission of equipping small businesses with the tools needed to conduct smarter business operations. 

The new product innovations are poised to deliver the most innovative technologies to small business, putting the power of artificial intelligence through machine learning into the hands of our customers through Smart Money, Smart Decisions and Smart Connections.

Smart Money

Your business’s finances can be both the most important and the most difficult aspect of your business to manage. In Canada, 78 per cent of small business owners don’t feel like their business cash flow is under control*. Our AI-driven expert platform understands a business’ financial health when customers need it. The below product updates bring increased financial confidence to our customers:

COMING SOON Cash Flow Planner: QuickBooks will soon be introducing the Cash Flow Planner, a brand new offering that leverages the power of AI to enable small businesses to predict their daily cash flow over the next 90 days, empowering them to make the best decisions for their business. The planner proactively alerts business owners when a negative situation is on the horizon and provides recommendations around how to navigate the situation. QuickBooks leverages anonymized data across millions of customers with more than 26 billion touchpoints to generate predictive scenarios with accurate cash flow forecasts. In addition, the planner can be used for scenario planning to help users answer questions such as: “Is it safe to hire another employee now, given my forecasted cash flow in the coming few months?

Smart Decisions

Small businesses need access to the right data and insights to make informed decisions about their business’s continuity and growth. QuickBooks harnesses the power of data and AI, automates bookkeeping and simplifies decision-making, giving every business owner more confidence and control:

NOW LIVE Receipt Capture: The days of the receipt shoebox are over. QBO Canada users can now email, upload or take a picture in QuickBooks mobile of their receipts. Our intuitive platform will extract the important information (vendor, date, amount, last 4 digits of CC) in order to help the user create a new expense or match the receipt to an existing QBO expense.

NOW LIVE Mileage tracker: Mileage deduction can be one of the biggest tax deductions a self-employed or small business owner can claim to reduce their tax bill but it can be extremely painful to track. Announced today, our QBSE mileage feature – which allows for easy mileage tracking through the app and online — will now be accessible to all QuickBooks Online customers.

Smart Connections

A small business is only as strong as the network of support it has around it. QuickBooks is now the world’s largest small business network. We connect people to the tools and experts they need to ensure their books are done right.

Canadian Federation of Independent Business industry collaboration: We’re constantly searching out complementary resources and partners to deliver a small business ecosystem that provides support to our customers at every turn – and this year, we formed an alliance with The Canadian Federation of Independent Businesses (CFIB) to do just that. Through this alliance, CFIB members will be able to access QuickBooks’ suite of online financial tracking tools at discounted rates, providing Canadian small businesses with greater ability to take control of and manage their finances.

 

New Canadian leadership 

These product innovations follow 12 months of high performance for Intuit QuickBooks Canada, which delivered customer growth of 48 percent.**  Looking towards the future, QuickBooks also announced today a new Country Manager, David Marquis, who will be joining the Intuit QuickBooks Canada team on January 6, 2020.

With a background and passion for engineering and empowering partners through the creation of accessible technology, David is joining Intuit QuickBooks Canada from Google Canada. David’s leadership will ensure the continued rollout of AI and technology driven solutions to benefit Canadian QuickBooks customers.  

*About the survey

The Intuit Cash Flow Survey, was conducted by Wakefield Research and sponsored by Intuit (www.wakefieldresearch.com ) among 500 Canadian small business owners at companies of 0-100 employees, between November 1st and November 18th, 2019, using an email invitation and an online survey. When reporting tracking data, quotas were set to ensure samples could be compared to data collected in 2018 in the US, UK, Australia, Canada, and India.

 

**Data sourced from Intuit’s Investor Day 2019 Presentation, October 3, 2019 https://s23.q4cdn.com/935127502/files/doc_presentations/FINAL-WEBPOST-Intuit_InvestorDay_OctFY19_E2EPreso_v11-093019-cm.pdf

Disclaimer: This information is intended to outline our general product direction, but represents no obligation and should not be relied on in making a purchase decision.

Information may be abridged and therefore incomplete. This document/information does not constitute, and should not be considered a substitute for, legal or financial advice. Each financial situation is different, the advice provided is intended to be general. Please contact your financial or legal advisors for information specific to your situation.

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