Our webinar on 2018 IFRS developments that took place on December 12th is now online.

The session will provide an overview of the following, among others:

  • Newly published or amended International Financial Reporting Standards (IFRS);
  • Some practical issues, including those related to cryptocurrencies;
  • The IASB’s work plan;
  • Regulatory developments.

Each participant will be able to take a test at the end of the session. A training certificate, which applies to training hours recognized by the Quebec CPA Order (OCPAQ), will be given to each participant who passes the test.

The certificates will be mailed within two weeks from taking the test.

Please note that this information session is in French.

Access the session: https://www.icastpro.ca/events/raymond-chabot-grant-thornton/2018/12/12/actualites-ifrs

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To stand out in your industry, provide your customers with experiences that evoke positive and memorable emotions.

You don’t always need to invest in costly technological or operational projects to innovate in this field. Improving the client experience is primarily an everyday business challenge that must be placed at the heart of your SME’s culture and strategy.

With this in mind, it’s your role, as business leader, to clearly define the client experience you want to offer and make it a priority that engages all employees. Remember that today, above all else, clients (individuals or businesses) are looking for speed and simplicity in their interactions with suppliers as well as increasingly tailored service offerings.

Know your client well

Where can you find new ideas to enhance the client experience? Of course, you could get inspiration from the best of the best in the industry, but first and foremost, it’s all about being able to listen to your clients and knowing their expectations, what they want to live as a rational, emotional experience, and only then will you discover how to improve your delivery.

While some expectations are clearly defined by your clients, others are unclear or not defined at all, but they still exist and therefore can influence your clients’ behaviours.

You can use various methods for determining their expectations and actual needs.

Traditional methods

  • Perceptual surveys;
  • Mystery clients;
  • Analysis of the records of complaints and comments;
  • Operational follow-ups after a transaction, etc.

Social media

They allow you to maintain a constant dialogue with your clients.

New technological tools

You could gather continuous information about your clients using advanced analytical tools, for example. These will help you analyze your data, determine client trends and decode their behaviours.

Regardless of the method, it’s much more than just asking them for a list of desired improvements, hoping to foster their loyalty and inclination to recommend your products and services.

Make the most of new technologies

New analytical and artificial intelligence tools enable you to get to know your clients well by analyzing large quantities of data from a variety of sources: client databases, transaction history, email communications with clients, comments on social media, etc.

Fortunately, technological development in the past years have made these technological tools more and more affordable for SMEs. They can help you analyze the current client path accurately and detect what’s really important for clients and what can irritate them. This way, you can improve in the way they really want.

Think, for example, of automated management applications where suppliers can monitor their client’s inventories in real time (B2B) in order to always have sufficient quantities on hand. On the other end of the value chain, think about clients that can follow the progress of their order and be informed in real time of delivery time frames. Also, think about personalization tools on e-commerce websites where consumers have the possibility of configurating products based on their preferences.

Engage your employees

Lastly, in the same way you have a conversation with your clients, you should continuously maintain a client experience dialogue with your employees. It’s the best way to give this topic all of the importance due and mesh it with your business culture.

Furthermore, since the client experience is delivered on a daily basis, interaction by interaction, your employees are at the heart of this delivery experience and are also an invaluable source of improvement ideas.

In recent years, managers have tended to be very present in the field in order to supervise employees’ activities and coach them, for example. This helps gather comments to improve and discuss the client experience, while ensuring that the guidelines are followed by all staff.

As a result, you will improve the client experience, little by little, every day, by making small gestures that will add up and help keep you at the forefront of this game.

 

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The Grant Thornton International IFRS team has published Insights into IFRS 16 – Definition of a lease.

The Insights into IFRS 16 series provides insights on applying IFRS 16, Leases, in key areas. Each edition will focus on an area of IFRS 16 to assist you in preparing for the required changes on adoption of the standard.

The edition Insights into IFRS 16 – Definition of a lease provides guidance on the definition of a lease.

The issue

IFRS 16 changes the definition of a lease from the current evaluation in IFRIC 4, Determining whether an Arrangement Contains a Lease, and provides guidance on how to apply this new definition. As a result, some contracts that do not contain a lease today will meet the definition of a lease under IFRS 16, and vice versa.

The bulletin explains the new lease definition and the three key evaluations necessary to determine that the contract is or contains a lease.

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Emilio B. Imbriglio
President and Chief Executive Officer | FCPA, FCA, MBA, CFE, ICD.D.

Business leaders have shared their entrepreneurial vision with our President and CEO, Emilio B. Imbriglio, in exclusive interviews.

Always relevant, their comments deserve our attention. This is the last in a series of three interviews.

In these videos, Luis Romero, Founder and CEO of Equisoft. discusses several topics, including competitive advantage, leadership, tax credits and business DNA.

Most of the time, I’m just helping my team.

Our firm is proud to present these high-level meetings filmed in an unusual and spectacular location: outside, on the roof of Place Ville Marie.

To find out more, view these short videos.

 

On competitive advantage

 

On leadership

 

On tax credits

 

On business DNA

11 Dec 2018  |  Written by :

Mr. Imbriglio is partner and the President & CEO of Raymond Chabot Grant Thornton. He is in charge...

See the profile