Today, Xero announced the availability of improved financial reporting tools for small businesses and their advisors across Canada. PwC Canada’s Cashflow Coach is now available for the Canadian market on the Xero app marketplace to help small business owners and startups take control of their cash flow management challenges.

Xero has also released two new cash flow management tools – business snapshot and short-term cash flow – to help small businesses and their advisors easily view key financial metrics and insights.

Cash flow is the life blood of any business, and it’s an area where many small businesses are feeling vulnerable with today’s economic uncertainty. Maintaining a healthy cash flow can make all the difference, and we’re proud to provide small businesses with a variety of options. This includes Xero’s financial reporting tools and the Cashflow Coach app so business owners can feel confident about their financial position. It also

I’m pleased to see governments in Singapore, Hong Kong and Malaysia stepping up to launch more dedicated SME (small and medium-sized enterprise) digitisation grants to back digitisation of small businesses. These grants support those impacted by COVID-19 to diversify their business models. In most cases, this means moving into the cloud. 

In response to this, I’m excited to share that we have extended our partnership with DBS Bank, one of the Singapore Government’s Start Digital Partners, to encourage more SMEs to adopt cloud-based accounting and software services in Singapore through their Start Digital Pack. We launched a similar partnership with OCBC under their Start Digital Initiative last year. 

COVID-19 has underscored the importance of cloud-based offerings over legacy desktop. If you are thinking the same for your business, here are digitalisation grants you may be able to take advantage of: 

  • Singapore: Heng Swee Keat, Deputy Prime Minister and

With the challenges that COVID-19 has brought, the advisor community has experienced a phenomenal increase in workload. Speaking to accountants and bookkeepers, they all say they have been run off their feet. They are making a difference, helping clients apply for wage subsidies and loans, preparing cash flow forecasts and scenario planning the list goes on.

Advisors have quickly changed the way they work with clients. Some are interacting weekly or fortnightly, providing more regular assistance with cash flow and acting as a financial sounding board for small business owners. Some have been, and still are, dealing with really tough circumstances and the fallout that follows. While there’s no silver bullet for businesses experiencing a downturn due to COVID-19, it’s become essential to track real-time data on a daily basis, to run regular cash flow forecasts and to seek expert advice.

I’d like to think that this season has