61 Per Cent Of Canadian Small Businesses Now Use Automation Tech: Intuit

Canadians are embracing the potential AI holds to improve their lives, and this is especially true among entrepreneurs. Intuit’s latest study in partnership with Emergent Research revealed that most Canadian small business owners are early adopters, with 61 per cent of small businesses currently using automation technology to run their businesses.

They’re also optimistic about what it means for the future, with 57 per cent reporting they feel positive about the impact automation will have on their business over the next five years, citing the potential to improve efficiency, productivity and innovation as the top reasons why it will benefit their businesses.

  • Nearly a quarter (23 per cent) of SMB owners think automation technology will lead to an increase in employees at their firm and few (11 per cent) think it will lead to employment reductions.
  • About half report that over the next five years they expect automation technology will improve their job satisfaction, work/life balance and their ability to manage their business.

To help Canadian small business put an end to mundane tasks, like sending reminders for overdue invoices, so they can focus on growing their businesses, QuickBooks unveiled several innovations at the first-ever QuickBooks Connect Toronto this week that let entrepreneurs harness the power of AI and data-driven insights, including:

  • The brand-new QuickBooks Assistant: The brand-new QuickBooks Assistant offers a conversational chat experience and solves a common problem for the self-employed and small business owners – quickly and easily staying on top of their finances. The new chatbot combines data-driven insights and natural language processing to ease business operations by merely asking questions or stating requests, saving precious time and giving entrepreneurs the insights necessary to make informed financial decisions with confidence.
  • QuickBooks Projects feature now available to all Canadian QBO Plus users: QuickBooks Projects introduces QuickBooks Online Plus users to a new way to work and collaborate, all while seamlessly organizing all project components in one location, so they can run their business more efficiently and intuitively.
  • Access to direct bank feeds with new CIBC integration: Intuit and CIBC are joining forces to help businesses make more informed decisions quickly, combining CIBC’s powerful banking capabilities with critical insights from QuickBooks Online and QuickBooks Online Accountant, enabling accountants and entrepreneurs to better manage their day-to-day accounting.

 

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