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Digitization will Prepare Companies to Compete Globally – David Dodge – Former Bank of Canada Governor*

Digitization will Prepare Companies to Compete Globally – David Dodge – Former Bank of Canada Governor*

July 19, 2023 by Serge Vanier, CPA Leave a Comment

Digitization

*(Comment published last month in the Financial Post)

Indeed, there are great advantages in digitizing a business process. The obvious ones are faster access to information, it is more sharable, it increases productivity, higher mobility & higher security.

The specific benefit in digitizing the employee expense report process includes offering a much better employee experience in comparison to requiring employees to fill out a spreadsheet and join receipts in an email. It provides a better insight into spending.

As for the specific benefits of Advataxes, it involves accessing and implementing sales tax rules and business rules that would be very hard to implement at the cost of a reasonable effort, such as being able to use the exact method for GST/HST/QST purposes, integrate a distance calculator, an OCR, an App, send an email alert when the 5,000 KM threshold has been reached for an employee in a given year, calculate taxes in meals but not on tips, have different sales tax recovery rates for non profit organizations for expenses incurred in different provinces, etc…

After all, competitivity is a key matter.

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About Advataxes

Advataxes is an online accounting software for employee expenses that automates recoverable GST/HST and QST for small, medium and large businesses. Employees can fill out and submit their expense reports to their supervisors from anywhere using their PC, tablet or smartphone in no time. This online software is available in English and French. Advataxes is a product of Ad Valorem which is a member of Antea an internationnal association of independent firms.

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