04 Feb 2019

Raymond Chabot Grant Thornton is taking by storm the digital sector of the finance function and becomes Quebec’s leader

FPM360 joins Raymond Chabot Grant Thornton’s ranks

Montréal, February 4, 2019 – Today, Raymond Chabot Grant Thornton announces the acquisition of FPM360 and becomes Quebec’s leader in consulting for CFOs. Specifically, the firm is bolstering its services in the area of financial performance management, digitalization of the finance function and treasury management.

“Through this major acquisition, our Management Consulting practice is essentially doubling the size of its team and our financial performance management offer becomes the most sophisticated of its kind in the market,” rejoices Emilio B. Imbriglio, President and Chief Executive Officer of Raymond Chabot Grant Thornton.

FPM360’s experts have access to the most sought-after software publishers in the field. Their financial expertise as well as their technological prowess allows them to advise financial executives to make them key players in their organizations’ digital transformation.

“Our strength is the ability to lead the process from start to finish, from diagnosis to deployment,” states David Mayrand, Vice-President and partner of FPM360. “To meet our clients’ growing needs, it was essential for us to join a top-flight firm such as Raymond Chabot Grant Thornton. We are proud to be part of this Quebec flagship.”

FPM360’s founders, David Mayrand, Normand Houle and Hughes Lepage, will become partners of the firm.

Following the launch of Operio, a cloud accounting operational solution, and Catallaxy, a subsidiary specializing in blockchain, Raymond Chabot Grant Thornton is now taking the finance function technology sector by storm.

About FMP360

Founded in Montréal in 2010, FPM360 a consulting firm specializing in the implementation of integrated performance management and analytics solutions offers cutting-edge consulting advice to clients, SMEs and major corporations, working in various sectors such as financial services, manufacturing and retail. FPM360 has 47 employees, mostly CPAs.

About Raymond Chabot Grant Thornton

Founded in 1948, Raymond Chabot Grant Thornton has become a Canadian leader in the areas of assurance, tax, advisory services and business recovery and reorganization, with more than 2,500 professionals, including some 200 partners. Together, Raymond Chabot Grant Thornton and Grant Thornton LLP help Canadian organizations unlock their potential for growth with over 4,400 professionals and some 170 offices across Canada. Grant Thornton International Ltd provides clients with the expertise of over 50,000 professionals across more than 135 countries.

Information:

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

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31 Jan 2019

An online survey published on January 21st indicated that half of Canadians are $200 away from bankruptcy.

Les Affaires journalist Daniel Germain wanted to find out more about these disturbing findings and contacted Éric Lebel, Partner and Licensed Insolvency Trustee at Raymond Chabot Grant Thornton.

Without commenting on the survey results, Lebel noted that many Quebec households are in fact struggling with financial difficulties.

Lebel went on to say that, according to an Innovation, Science and Economic Development Canada chart on monthly disposable income, a single individual needs $2,152 per month to cover basic needs (housing, food, clothing) while a couple needs $2,679 to cover those same needs.

Lebel said, “Far from being an exaggeration, these numbers are still more than what is earned by 20% of Quebeckers with an hourly salary under $15.”

It’s easier for a couple sharing their expenses to make ends meet than it is for a single person. Many people facing financing difficulties are recent singles who have found that their expenses climb sharply after a separation.

Find out more about Daniel Germain’s blog and Éric Lebel’s comments (in French).

Do you have a financial problem? Talk to an expert.

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24 Jan 2019

In an article posted on emplois.ca, Marc Bergeron, Vice-President – Recovery & Reorganization at Raymond Chabot Grant Thornton, tells CPAs how to deal with a company that is showing signs of distress.

Warning signs include a shortage of cash resources, a decline in sales, recurring deficits, late tax payments, the loss of a major client and the departure of the best employees.

Bergeron reminds accountants that it’s their duty to notify business leaders when they perceive such signs. He also mentions that many managers tend to bury their heads in the sand when their accountant tells them their business is in a vulnerable situation.

Bergeron adds that there are recovery services to help a business turn its situation around. The sooner the accountant reacts, the smoother the road to recovery.

 

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15 Jan 2019

Higher interest rates are impacting debt levels and an increase in the number of insolvency cases across Canada, and particularly in Quebec, has been noted.

Éric Lebel, Raymond Chabot Grant Thornton Partner and Licensed Insolvency Trustee, provided personal finance advice on Mario Dumont’s program broadcast on LCN on January 9, 2019.

Éric noted that there is always a time lapse between an increase in interest rates and declarations of bankruptcy.

The situation is made worse because of the easy access to credit. The financial recovery consultant provided a number of tips to improve personal finance management. He emphasized the need for a budget and invited listeners to consult the Raymond Chabot site.

He believes that the debt ratio should not be more than 30% of the budget and suggests that listeners develop sound consumption habits within their budget.

Lastly, he suggests that people have only one credit card or even just a debit card to limit their level of indebtedness.

View the interview on the LCN site (in French).

Contact a recovery and insolvency expert for a free, confidential consultation.