21 May 2020

Raymond Chabot Grant Thornton is proud to be joining forces with Vena to offer a new, automated enterprise performance management (EPM) solution across the nation.

This tool will support processes relating to the planning and budgeting for the finance and operations divisions, the consolidation, analysis and reporting of financial information, and finance function management.

This partnership will enable the firm to offer small- and medium-sized businesses the opportunity to acquire a high-performance cloud-computing EPM solution at an affordable price. The solution modernizes budgeting and planning, shortens the closing cycle and monthly consolidation, accelerates the financial reporting process, and easily generates management reports and in-depth analyses.

David Mayrand, Management Consulting Partner, said: “This tool transforms traditional Excel reports into an optimal financial planning and analysis solution. Since Vena is an accessible platform that uses Microsoft Excel technology, our small- and medium-sized clients will benefit from less time spent on managing processes and creating financial reports. It will especially enable them to make better, faster decisions.”

The new partnership between Raymond Chabot Grant Thornton and Vena extends the group’s EPM solutions.

Our certified experts can help you find the best technology for your business and guide you throughout the process. Contact us now to learn how to optimize your financial performance.

For more information about Vena’s EPM solution, go to www.venasolutions.com.

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19 May 2020

Five Grant Thornton (GT) member firms have launched a new technology offering for global mobility services.

This application will help HR and international travel managers better manage the regulatory, tax and compliance issues that arise from a mobile workforce.

When employees accept an international assignment or are permanently transferred out of their home country for business reasons, their employer is required to provide support for ensuring continued tax compliance in addition to being responsible for the company’s obligations.

Our international mobility specialists are then called upon to inform organizations of the scope of tax, social security, benefits and human resource requirements they need to consider in order to ensure compliance and maximize their investments.

The new platform, developed jointly by GT member firms in the United States, the United Kingdom and the Netherlands as well as the Canadian member firms in Toronto and Montréal, equips clients by providing them with real-time monitoring, analyses and information on their international mobility programs (e.g. schedules, deadlines, follow-ups, dashboards, etc.).

Martin Caron, Senior Manager, Global Mobility Services at Raymond Chabot Grant Thornton says: “This new tool allows organizations with a mobile employee population and experts in the GT network to share information in real time, allowing them to better ensure compliance during international assignments.”

Caron adds: “For example, an employer can easily track the status of tax returns for employees deployed to China, the United States or Canada.”

Workers abroad also have access to the application and can use it, among other things, to file their tax documents. Each of the parties involved benefits from the application according to their role in the program, in a high-performance, easy-to-use and fully secure virtual environment.

Contact us for more information about our international mobility services or the new platform.

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28 Apr 2020

Updated July 30th, 2020

Bill C-20, assented to on July 27, 2020, extends the Canada Emergency Wage Subsidy (CEWS) and provides for a more targeted application.

The subsidy can be up to 75% of the remuneration paid to employees for eligibility periods 1 to 4 (March 15 to July 4, 2020) to the extent the employer has experienced a decline in revenue of at least 30% (15% for the month of March). For eligibility periods 5 to 9 (July 5 to November 21, 2020), any employer who has experienced a decline in revenue can benefit from the subsidy, that now comprises two parts:

  • A base subsidy up to 60% for periods 5 and 6 (rate gradually reduced as of period 7 to 20% by period 9);
  • A top-up subsidy of up to 25% for employers that have been most adversely affected.

Some of the changes are retroactive. Accordingly, employers may be eligible for the CEWS retroactively to March 15, 2020 or may be eligible for a higher CEWS for periods for which they have already submitted a claim.

Our experts are trained to assist you in the analysis of the eligibility criteria for the CEWS and for the preparation of your application. They will be able to help you make informed choices, particularly as to the methods for calculating the income reduction test. With their advice, you can maximize the amounts claimed while limiting your risk of dispute in this regard. Don’t hesitate to contact your advisor to discuss it.

To learn more regarding this subsidy, please read our tax news, which is regularly updated.

You can also visit our section on financial support measures for businesses, which is regularly updated.

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22 Apr 2020

Preparing SMEs for a rapid recovery from the COVID-19 crisis

Montréal, April 22, 2020 – The COVID-19 pandemic has sent shockwaves through the business community and forced many small- and mid-size businesses to either scale back their operations or stop them altogether. As a firm that’s committed to helping businesses survive and thrive, Raymond Chabot Grant Thornton has just launched Solutions for SMEs, a new program for developing effective business continuity and recovery strategies in uncertain times.

Emilio B. Imbriglio, President and CEO stated: “Ensuring that Quebec businesses succeed is key to getting the economy back on its feet. They’re the backbone of our economy and they need to be ready for a strong comeback—and that means preparing for a new reality starting now. Agility, innovation and a proactive approach are more important than ever before. And that’s precisely where Raymond Chabot Grant Thornton can be of assistance.”

Eight priority actions for effective recovery planning

Risk management partner Vincent Cartier said: “All businesses are facing a new reality that requires them to be more flexible and adaptable. There will be bumps in the road to recovery and leaders will have to be vigilant, organized and agile to respond quickly and effectively.”

To this, management consulting partner Pierre Fortin added: “In just a matter of weeks, our world has changed. Yesterday’s imperatives no longer apply, and consumer behaviours have shifted. That’s why Raymond Chabot Grant Thornton has developed a program with eight priority actions to help businesses redefine their business continuity and recovery strategies.

Solutions for SMEs uses a personalized approach to address each company’s unique needs through the following eight priority actions:

1. Managing cash flows
2. Supporting managers and employees
3. Stabilizing and boosting revenues
4. Managing procurement
5. Monitoring business performance
6. Managing risks
7. Prioritizing digital transformation and cybersecurity
8. Reassuring stakeholders

Management consulting partner Nancy Jalbert stated: “Organizations will need to revisit their procedures, including operations and procurement, and many will also need to review their digital transformation plans regularly as the situation evolves. Agility is essential. It has become a defining feature of any company that wants to be strong, efficient and competitive.”

Raymond Chabot Grant Thornton will provide an overview of the Solutions for SMEs program during a webinar to be held on April 23 at 10:30 a.m. To register, click here.

Eligible businesses interested in taking advantage of Solutions for SMEs can obtain funding for it through the Gouvernement du Quebec’s Concerted Actions Program for Maintenance in Employment (PACME).

About Raymond Chabot Grant Thornton

Raymond Chabot Grant Thornton is a professional services firm dedicated to the success of organizations and their leaders since 1948. The firm’s advisors are committed to helping clients thrive by obtaining a deep understanding of what is important to them, their business and their industry. This knowledge, combined with a team of motivated and talented professionals help accelerate growth. A Quebec and Canadian leader in the areas of assurance, tax, advisory services and business recovery and reorganization, Raymond Chabot Grant Thornton boasts more than 2,800 professionals, including approximately 200 partners, working in over 100 offices across the province of Quebec and in the Ottawa and Edmundston regions.

Together with Grant Thornton LLP, another Canadian firm, and the Grant Thornton global organization, our global footprint spans across more than 140 countries with over 56,000 people who provide real insight, a fresh perspective and agility to keep clients moving ahead.

Source:

Francis Letendre
Head – Public Affairs
Raymond Chabot Grant Thornton
Tel: 514-390-4201
[email protected]