A recent survey of over 500 Canadian business owners, accountants, and financial professionals paints a bright picture for 2025. An impressive 81% of respondents expect economic stability or improvement in the coming year. Reflecting this optimism, businesses are not holding back—instead, they’re leaning into technology investments to drive growth and efficiency.
With 60% of Canadian businesses planning to expand their use of financial technology (fintech) to replace manual tasks and fuel strategic initiatives, the question is: where should your business start?
Based on the survey findings, here are the top three technology priorities for Canadian businesses in 2025.
1. Automating Manual, Time-Consuming Tasks
Efficiency is a top priority for businesses aiming to free up time and resources for growth. Automating repetitive processes not only saves time but also allows your team to focus on strategic activities that move your business forward.
Survey insights reveal that 35% of businesses plan to invest in artificial intelligence (AI) to streamline financial operations. Their focus areas include:
- Automating reports (43%)
- Generating invoices (35%)
- Managing payroll and expenses (25%)
- Simplifying payments (25%)
Currently, 34% of businesses automate expense management, while 28% have adopted tools to automate reporting. These technologies reduce human errors, improve cash flow, and eliminate inefficiencies, providing businesses with more time to concentrate on innovation and expansion.
2. Consolidating Workflows into Unified Platforms
Many businesses today juggle bloated tech stacks. Small companies use an average of 172 tools, while mid-sized organizations manage over 250. This fragmented approach adds complexity, increases costs, and hinders efficiency.
The survey shows that 60% of businesses are prioritizing platforms that consolidate multiple workflows into a single, streamlined solution. Unified tools that integrate payments, expense management, and financial reporting simplify operations, improve team collaboration, and help reduce overall costs.
By investing in platforms that reduce tool sprawl and centralize critical functions, your business can operate more effectively and dedicate more resources to growth.
3. Reducing Risks and Improving Accuracy
Manual financial processes come with inherent risks, including data inaccuracies, delayed payments, and compliance errors. These issues can strain vendor relationships, tarnish your reputation, and disrupt cash flow.
Automation mitigates these risks by enhancing accuracy, securing workflows, and ensuring timely transactions. Businesses that use tools to automate accounts payable (AP) and accounts receivable (AR) report immediate benefits, such as:
- Improved cash flow visibility
- Fewer payment processing errors
- Stronger relationships with vendors and customers
For example, Sean Freedman, President and Founder of Freightzy, shared: “Making manual payments made it hard for us to track and reconcile our payments. I now have clarity on cash flow, which has allowed us to make more informed decisions for the business.”
Why Start with Payments?
Digitizing payments offers quick, impactful results, and 60% of Canadian businesses plan to increase their fintech usage in 2025. Among them, 77% are prioritizing real-time payments, while 53% are shifting to digital payment methods.
Why focus on payments? Digital payment solutions deliver:
- Fast results with minimal disruption
- Immediate cost and time savings
- A strong foundation for broader automation initiatives
By moving away from traditional methods like checks, businesses can enhance payment security, streamline reconciliation, and simplify tracking—laying the groundwork for sustained growth.
Set Your Business Up for Success in 2025
Canadian businesses are embracing tools that automate tasks, consolidate workflows, and reduce risks to stay competitive in an evolving market. These investments are no longer optional—they’re essential for building resilience and driving sustainable growth.
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