Taking control: Deloitte Private launches cloud-based portal to maximize growth potential for small and medium-sized business
The first all-in-one solution designed by a Canadian professional services firm that combines accounting, payroll, analytics and advisory services for private companies
Toronto, September 19, 2017 – Today, Deloitte Private launched ctrl by Deloitte, an online cloud-based financial collaboration portal that provides accounting, payroll and analytics as well as customized advisory services for small and medium-sized enterprises. Designed by Deloitte, the ctrl by Deloitte portal integrates bookkeeping, annual financial statements and both corporate and personal tax returns for shareholders. ctrl by Deloitte creates an online repository of historical and current financial information–all in one place.
Deloitte is the first amongst its competitors to introduce a secure, cloud-based solution that enables enhanced collaboration amongst the accountant, book keeper, business owner and other vendors in real time. As part of the ctrl by Deloitte offering, a dedicated Deloitte professional navigates through financial records and works with the business owner to discuss performance, identify future growth and cost-saving opportunities.
A Deloitte survey of 2,000 Canadian small business owners and directors found that 70 per cent of respondents feel there is an information vacuum. The lack of information available to business leaders is concerning. More than half of the respondents (56 per cent) reported that it holds them back. Almost a quarter (23 per cent) of small business owners and directors that were surveyed rely on gut instincts rather than facts and data to make business decisions.
“Business owners today face pressures that are different from their predecessors,” said Mike Runia, Managing Partner, Deloitte Private. “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.”
ctrl by Deloitte delivers powerful performance insights for business owners to benchmark against industry peers. In addition, it can examine a company’s revenue, productivity and costs to boost bottom-line performance and provide a roadmap to enhance the business’ finance function.
ctrl by Deloitte is available in three packages to suit the unique needs of small and medium-sized enterprises at transparent fixed pricing. The Complete Business solution offers bookkeeping, annual financial statements, tax returns and consultation with a Deloitte professional each quarter. The Accountant Plus package provides annual financial statements, corporate tax returns and personal tax returns. The Business Basics solution includes monthly bookkeeping, annual financial statements, a corporate tax return and an annual visit from a Deloitte professional. Additional consultations with a Deloitte professional on business advisory and tax matters can be customized for each package.
“Compliance and accounting are commonly viewed as obligations that businesses prefer to complete in the most efficient and smooth way possible,” said Mark Wayland, Partner, Deloitte Private Audit. “By reducing the workload involved with accounting and compliance in a cost effective manner, ctrl by Deloitte enables businesses owners to focus more time and resources on their core business.”
About the survey
A survey of 2,000 Canadian small business owners and directors from businesses with 10-499 employees were polled online in September 2016. The sample includes representation from every province and territory.
About Deloitte Private
Generation after generation, Deloitte has been by the side of the entrepreneurs transforming Canada’s economy. Deloitte Private is exclusively focused on serving private clients of all sizes.
Deloitte, one of Canada's leading professional services firms, provides audit, tax, consulting, and financial advisory services. Deloitte LLP, an Ontario limited liability partnership, is the Canadian member firm of Deloitte Touche Tohmatsu Limited.
Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee, and its network of member firms, each of which is a legally separate and independent entity. Please see www.deloitte.com/about for a detailed description of the legal structure of Deloitte Touche Tohmatsu Limited and its member firms.