CIBC SmartBanking is now live, integrating banking, accounting and payroll all in one for SMEs.

The platform will boost operational efficiency for CIBC business clients though the collaboration with Intuit Canada, Xero and Ceridian. In additional, the integrated services enable more scalability for business owners.

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Those using the platform will have a comprehensive view of their company’s finances. This will include accounting and payroll insights, making it easier to manage their business.

CIBC SmartBanking for Business uses secure, two-way data integration between CIBC and cloud accounting platforms. For companies, this reduces the amount of manual data entry and improves overall accuracy.

Furthermore, through a single interface, a business owner can see their complete financial dashboard. This includes upcoming payroll details, pending invoices and receivables. However, CIBC doesn’t leave out the day-to-day banking tasks. It has optimised the platform to improve the management of cash flow as well as general banking functions.

Senior Vice-President, Business Banking at CIBC, Andrew Turnbull, states: “Business owners are faced with simultaneously managing every facet of their business.

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“We are introducing a valuable business intelligence tool to help clients manage their banking, accounting and payroll in one place, saving them time so that they can focus on achieving their growth ambitions.

“SmartBanking is the latest way we are innovating for business owners to make their lives easier.”

CIBC SmartBanking for Business

CIBC SmartBanking provides business owners with sharp financial insights, helping them make real-time business decisions.

The collaboration brings together information from cloud accounting software companies Intuit Canada and Xero, and payroll software company Ceridian.

Currently, the platform is available online and exclusively for iPad to download free with no monthly access fee.

Country Manager, Intuit Canada, Martin Fecko, highlighted:

“By combining CIBC’s powerful banking capabilities with critical insights from QuickBooks, small businesses can make smarter and faster decisions about the financial health of their business.

“With 64% of Canadian small businesses admitting to struggles with cash flow for their business, this collaboration with CIBC demonstrates how companies can come together for the financial benefit of Canadian small businesses, saving them time and finding innovative ways to tip the odds in their favour.”