Vertical IQ has enhanced its Industry Intelligence platform by incorporating Canada-specific financial benchmark data, offering businesses and professionals a more nuanced understanding of industry performance metrics.
The new financial benchmark chapter draws data from the Government of Canada’s annual Financial Performance Data, providing comprehensive insights for businesses across two distinct revenue ranges: $30,000 to $5 million and $5 million to $20 million.
This expanded offering includes detailed financial ratios such as current ratio, debt-to-equity ratio, interest coverage ratio, debt ratio, and return on assets. The benchmarks also feature comprehensive income statements and balance sheets with detailed asset, liability, and equity information.
Drake Branson, Director of Product at Vertical IQ, emphasized the importance of accurate financial benchmarks, noting they provide business owners with standards for improvement and goal-setting. By highlighting key differences in resource management, these benchmarks can help companies identify potential efficiency gains and cost-reduction opportunities.
Recognizing the unique characteristics of the Canadian economy, Vertical IQ’s approach acknowledges that industry performance can vary significantly between regions. For instance, an aluminum production business in Edmonton might exhibit different financial benchmarks compared to a similar enterprise in the United States.
The company will update its Canada-specific financial benchmark data annually, ensuring that businesses have access to the most current and relevant industry performance information. This commitment underscores Vertical IQ’s dedication to providing comprehensive, region-specific industry intelligence.
By offering these detailed, localized financial benchmarks, Vertical IQ aims to empower businesses, accountants, bankers, insurance brokers, and consultants with actionable insights that can drive strategic decision-making and performance optimization.
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