18 Mar 2021
David Mayrand
Partner | CPA, CA | Management consulting

Increase your budget efficiency with a management system technology upgrade that optimizes Excel.

In the past year, finance teams have been dealing with a flurry of forecast recalculations:

  • What will be the activity stream for the next six months?
  • How can expenses be optimized while maintaining a sustainable activity level?
  • What will cash resources be like in a week, a month, a quarter?

These issues have resulted in the proliferation of Excel files with their associated errors: corrupted links, difficult-to-follow versions, formula errors, etc. This can lead to poor analysis and incorrect decision-making.

Our financial planning experts can help you through this period of uncertainty by working with you to review your budgeting process and modernize your management system.

Our team of former financial controllers, experienced consultants and technical experts will accompany you in this digital transformation by presenting an efficient functional vision that meets your operational needs.

Thanks to our partnership with the Canadian software publisher VENA, we can offer an Excel integrated management solution that meets your needs.

VENA adopts and strengthens Excel seamlessly

Created to help companies work smarter, VENA uses a surprisingly practical methodology to simplify complex processes. VENA transforms Excel into a true financial and operational solution: budgeting, forecasting, reporting, consolidation, analysis and more.

VENA offers a simple, yet effective approach: it builds on Excel’s strengths while compensating for its shortcomings: centralized database, files and management rules, application security.

This cloud-computing solution is a complete, scalable and easy-to-use platform that connects all the players in your forecasting processes (document-sharing, discussion thread within a report) and uses a technical architecture in which VENA plays a central role (native connectivity with several ERPs on the market, integration of ETL [extract-transform-load] allowing you to import and export all types of data from your operating systems, etc.).

For more information and to watch the video, click here.

18 Mar 2021  |  Written by :

David Mayrand is a management consulting expert at Raymond Chabot Grant Thornton. Contact him today!

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01 Mar 2021

We are pleased to announce that Marc Bergeron, Vice-President of the Recovery and Reorganization Group (GRI), has been awarded the highest honour of the Ordre des comptables professionnels agréés du Québec, the prestigious title of Fellow (FCPA).

This recognition is a testament to Marc Bergeron’s exceptional career, inspiring leadership and significant contribution to the firm’s and the profession’s advancement.

In addition to these achievements, Marc is valued for his human qualities, ability to listen and great generosity. Success in everything he undertakes earns him the respect and trust of everyone he encounters—employees, clients and the community.

Here is the press release announcing the 17 new FCPAs.

 

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25 Feb 2021

On February 15, 2021, Raymond Chabot Grant Thornton released its pre-budget proposals to the federal and Quebec governments.

Some of these proposals have sparked considerable media interest. Consult our press release on the pre-budget documents.

Exceptional measures in an extraordinary context

The firm has been bold. We have proposed measures, some of them temporary, to generate more government revenues to avoid a possible public finance crisis without raising taxes and without being detrimental to future generations.

These bold measures would allow governments to reap short-term revenues and savings to address the sizeable debts and deficits generated by the pandemic. These ambitious measures include the rapid collection of unrealized taxes on Registered Retirement Savings Plans (RRSPs) and amounts held in holding companies, as well as restarting the federal immigrant investor program and accelerating reopening of this same type of program in Quebec.

The firm has also proposed significant measures to facilitate the recovery, such as a federal innovation tax credit and the introduction of a comprehensive entrepreneurial health financial assistance program in Quebec to allow SME leaders to be supported by a team of external professionals on two fronts: personal (psychological support) and organizational (business support).

Let’s be bold together to protect our future generations and boost our economy.

Media impact

Read the La Presse article quoting International Tax Partner, Jean-François Poulin. View President and CEO, Emilio B. Imbriglio’s interview on LCN’s À vos affaires (go to 7 min 35 s). Listen to Pierre-Yves McSween on FM 98.5. RDI’s Zone Économie reported on the topic in its February 15 broadcast. Our firm was also mentioned in InfoBref and on the Insurance Portal.

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24 Feb 2021

Now more than ever, information security is central to business growth. In fact, it’s essential for their survival. This is true for all SMEs.

CIS Group, a company based in Saint-Jérôme that develops software for distributors, has understood the need and has already made a major push to adopt the cybersecurity best practices.

In fact, the SME is aiming for ISO 27001 certification, the international benchmark standard for information security.

A client requirement

CIS Group is a leading North American supplier of IT solutions used for direct store delivery, sales force automation and people and freight transportation. The company’s applications are deployed on client servers and in the cloud, and they often contain sensitive information. CIS solutions have a total of 15,000 users, mainly in the food industry.

“We implemented a custom security program to ensure that security best practices are followed at every step of CIS Group’s product development process,” says Guillaume Caron, who is president and CEO at VARS, the cybersecurity division at Raymond Chabot Grant Thornton that supported CIS Group with its initiative.

CIS Group was already planning to take these measures, but the company decided to get the ball rolling sooner than planned because two clients specifically asked the software developer to align with a recognized cybersecurity standard.

This is happening to SMEs across the board. Increasingly, major public and private businesses want their suppliers to get serious about information security. That’s because they want to protect themselves from cybercriminals hoping to attack them by gaining access to their suppliers’ systems. Of course, the pandemic accelerated the trend by upending established work methods.

CIS Group can now assure its clients that it complies with the most stringent cybersecurity rules. “This will give us a competitive advantage for increasing customer loyalty and supporting our growth both domestically and internationally,” said Éric Tessier, Vice-President, Sales and Marketing at CIS Group.

“We were already adhering to many best practices, but our processes weren’t sufficiently documented or systematically applied with the right level of attention. During the certification process, we addressed certain gaps and made sure that all of our 70 employees were aware of the applicable security rules,” explained Joël Desjardins, Strategic Director, Mobile Solutions at CIS Group.

A detailed process

The road to ISO 27001 certification can be long. It involves:

  • Performing a complete risk assessment;
  • Identifying where corrective actions are needed;
  • Implementing an information security program;
  • Creating business continuity and incident response plans;
  • Setting up a permanent risk management committee;
  • Performing an audit.

At CIS Group, more than 25 new policies related to various cybersecurity issues were defined. “The whole process is a major undertaking and you need to get assistance from the right people. With VARS, we were able to get it all done in just 4 months,” said Joël Desjardins.

Companies also need 24/7 solutions to prevent cyberattacks, but these can be very costly for SMEs. The essential services provided by VARS include continuous workstation and network monitoring, intrusion testing and phishing simulations, advanced email security, as well as staff training. VARS also gives companies access to a Chief Information Security Officer.

As for CIS Group, the company plans to continually improve its information security efforts, even after it gets ISO 27001 certification. It’s also committed to adhering to the standard’s rules for at least 3 years. An annual audit will be conducted to verify compliance and identify further opportunities for improvement.