October is small business month, so there’s no better time to celebrate the innovations of small businesses, particularly start-ups. And Canada is booming with innovation, with plenty of new companies springing up in every field, from technology to business, food services, crafting and design, and more.
Intuit Canada has a cohort of start-ups it works with, all of which are aiming to solve various financial challenges that are common among small businesses. There are four companies in particular that have potential to accomplish big things in Canada and beyond.
Hailing from Waterloo, ON, Adaptive Pulse addresses a critical issue businesses face these days: customer churn. Through its variety of software, analytics, and technologies, Adaptive Pulse aims to help companies keep on top of customers, predicting and prioritizing retention and efforts so they can, in turn, reduce churn and ultimately increase revenue. The company effectively takes your customer data and analyzes it to deliver predictive insights, helping you better visualize things like customer trends and patterns, determine next actions to keep customers on board, and even deliver churn scores so companies can monitor improvements over time.
This advertising automation platform is designed to help businesses optimize their performance and increase profits. Based in Toronto, Beam.city Inc. helps businesses run all their ads from one single place. There are more than 700 pre-set audiences for retail and services so companies can customize campaigns and outreach efforts based on keywords, interest, demographics, and other factors. Using artificial intelligence (AI), Beam.city can help you work towards improving click rates while also cutting the overall cost per click. A by-product is a reduced workload for marketing and advertising personnel who can ensure ad performance is being monitored sufficiently, without having to spend all their time doing this manually. Once you set up an account, all you need to do is upload images and videos and they will be intelligently resized and ready to go for each appropriate channel. Then, create your first campaign by describing your ideal customer or by importing data from Facebook or Google Ads, select the region and budget, and you’re off to the races.
Another company focused on automating otherwise arduous tasks to help free up a company’s and employee’s time to handle other more pressing issues, is Stamped AI. The Quebec City, QC-based AI platform is targeted at accounting data certification, helping small-to-medium-sized businesses (SMBs) keep on top of their financials to make corporate tax preparation run more smoothly and seamlessly once it comes time to file. After talking with a CPA at the company, you can create an online profile, connect your accounting system and bank account, then leave it to Stamped AI to handle the prep. The company focuses on everything from tax returns to optimizing tax deductions, making recommendations on monthly financial statements, balance sheet, and cash flow, and reviewing and auditing financial certification. Since everything is handled online, you never have to leave the office and enjoy the flexibility of having things done in your own time.
Dealing in the space of digital commerce, QuoteMachine, based in Montreal, QC, is a software designed specifically for independent retailers. The idea is to help them close more deals, increase upsells, and “always get paid.” Retailers can get help in customizing their sales documents for creating high converting quotes, offer upsells, and use product images and videos to help continue the sales process beyond just on the retail floor. The idea is to empower salespeople beyond just the confines of a bricks-and-mortar location while still maintaining that all-important human experience.
Innovation is on the rise in Canada
This is just the tip of the iceberg when it comes to the innovation, entrepreneurial spirit, and exciting ventures coming from Canada. As these four companies prove, technology is never stagnant, and Canada is at the forefront of bringing new ideas and compelling concepts to fruition. As we near the end of October, let’s raise a glass to all the small businesses and start-ups that are the backbone of the Canadian economy.