WHAT BUSINESS AGILITY MEANS FOR THE LONG-TERM, POST COVID-19 2020 PIVOT | SOPHIE NICHOLLS JONES Whether it’s pivoting to manufacture personal protective equipment (PPE), servicing patients remotely or leading fitness classes over Zoom, Canadian companies are adapting to survive through COVID-19. But not every business can adjust so easily. With the United Nations predicting at least a US$1 trillion cost to the global economy due to this pandemic, how important is business agility for making it to the other side?
FORESIGHT MASTERING DATA: A SERIES OF ARTICLES FOR CPAs Today’s digital economy creates new demands on CPAs. CPA Canada’s article series on mastering data will indulge your curiosity and help you set a foundation to becoming a data expert in your organization.
Below are four tips on how agility can play into business survival and success. •
Define a new normal
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Motivate stagnant staff
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Find new revenue streams
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Plan rather than react
Whatever the strategy as we navigate through COVID-19, now is the time to start visualizing how your business will look in a post-pandemic reality. To read the full article, visit cpacanada.ca.
CANADIANS MORE AWARE OF FRAUD BUT MUST STAY ALERT, SURVEY SAYS 2021 PIVOT | SOPHIE NICHOLLS JONES According to the 2021 CPA Canada Fraud Study, 62 per cent of Canadians are doing more to protect themselves against scammers. With the pandemic providing fertile ground for scams of all kinds, Canadians must keep their guard up to ensure they don’t become victims, warns a new study.
In an age where data is an organization’s most valuable asset, CPAs must become comfortable operating in a world that’s data-rich, data-intense and data-driven. The Mastering Data series looks at the foundations of the digital economy and explores the role of CPAs in using digital technologies and data management to improve business outcomes.
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According to the CPA Canada 2021 Fraud Study conducted in January, almost three quarters of those surveyed (73 per cent) have received fraudulent requests, with email (44 per cent) and telemarketing (33 per cent) being the most common targeting methods. Additionally, 33 per cent have fallen prey to one or more types of fraud at some point in their lives.
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how to broaden your understanding and how to contextualize models used to inform decision-making
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opening new revenue streams by selling data and derived insights
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identifying the gaps in your organization’s data holdings and how to purchase data
These results come after Canadians lost $106.4 million to fraud in 2020 (up from about $96 million in 2019), according to the Canadian Anti-Fraud Centre. Fraudsters are apparently capitalizing on the fear and anxiety caused by COVID-19 by targeting the public and their finances in more sophisticated ways.
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the risks of holding data
To read the full article, visit cpacanada.ca. 12
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JOIN THE CONVERSATION Are you ready for a world that’s data-rich and where all decisions are data-driven? Join the conversation on CPA Canada’s digital engagement platform to participate in forums and quick polls.
