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Summary How can AI benefit your business? Artificial intelligence (AI) has been integrated into our daily routines for years, from helping us avoid traffic to recommending movies we might like. Its data processing and problem-solving capabilities offer numerous advantages for businesses, including reduced costs, increased efficiency, and enhanced products. However, many Canadian companies still lag …

Summary 1. Understanding the Unique Nature of SaaS Companies Unlike traditional one-time purchases, SaaS customers pay monthly or annually for access to software or services delivered over the Internet. While this model ideally creates a steady and increasing revenue stream, it also presents challenges that can impact the sustainability of a SaaS business. 2. Leveraging …

Summary 1. Why is inventory management crucial? Efficient inventory management is essential for most businesses to operate effectively. However, finding the right balance can be tricky. Carrying too little stock can lead to delays and lost sales, while carrying too much ties up your cash, takes up space, and risks inventory becoming obsolete, spoiled, or …

Summary Preparing for a Valuation A business valuation can help determine a fair buying or selling price, guide strategic planning, or assist with tax preparation. It’s crucial to choose a reliable valuator and ensure they have access to all necessary business information. Their first task will be determining the appropriate level of valuation complexity based …

Did you know that only about 24% of chief marketing officers admit to having sufficient budget to execute their KPIs? Generally, small businesses spend between 7-8% of their total budget on marketing, while the huge ones go as high as 10%. (1) (2) Given the reality that your budget will almost always be minimal, you’ve …

Every time an innovation is introduced, there’s as much uncertainty as there’s confidence in its potential. When cloud computing was born in the 1960s, some people immediately realized how it could be a game changer in various industries. Over the decades, however, others have grown concerned about how well it could protect their data from …