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Why Canadian Business are falling behind!

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Over 60% of small/medium businesses have implemented cloud based accounting software in New Zealand. Here in Canada that number is about 10%, but growing. Many European countries are now chequeless or committed to abandoning the cheque system in the near future.

Perhaps, it is because of our conservative nature. We do not like to take the risk of changing something that is working. The banking system does not help with their outdated system utilizing MICR coding. We never want to stray too far from our major trading partner south of the border who extoll the virtues of the security of this system. It gives us comfort to get back our own cheque as 'proof that it was paid'.

This, of course, is nonsense as witnessed in other countries in the world. Not to mention the enormous expense associated with this methodology, but the banks have too much invested to change.

Another outdated process is data entry of incoming bills that is normally done by a low cost bookkeeper. Extremely inefficient if you count in managing the paper.

Black African American Ethnicity Frustrated Woman Working In Stress At Office

Not many businesses understand that none of this is necessary today. Check the want ads for 'Bookkeepers'. For the most part, the job descriptions were defined by a predecessor ensuring that the inefficient processes continue.

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