For the majority of companies, growth is inevitable. And while this is often accompanied with excitement and enthusiasm, there are times when the looming uncertainty of outdated systems bring up lots of questions.
Growth is great for any company, but without the proper software infrastructure in place, it can be extremely difficult to keep up with demand.
For example, if you’re currently using software that is on-premise with limitations or perhaps you’re going back and forth between different systems without the proper integrations to bring them together.
These types of technological issues can cause breakdowns in systems - especially when it's not used to high demand of consumer orders and product inventory.
To add insult to injury, the scalable software required to keep up with a growing business can cost an arm and leg, requiring quite the investment up front.
That being said, this story does have a happy ending. Small to medium sized businesses, located exclusively within Canada, can apply for CDAP. Funded by the federal government, it provides technology grants based on your need for better digital strategies.
In tandem with the Business Development Bank of Canada (BDC), companies can create a plan for digital adoption or even upgrade their current technology.
Request More Info About Digital Adoption and Government Technology Grant
What is CDAP?
CDAP is the Canada Digital Adoption Program run by the Government of Canada. Small and medium-sized enterprises (SMEs) benefit greatly from this program as it helps companies implement digital technologies to increase presence and competitiveness.
Eligible organizations receive grant money to adopt certain digital systems and then a 0% interest-loan of up to $100,000 to launch the software, system or strategy.
Available across Canada, the CDAP program covers a wide range of digital plans:
- IT Equipment
- New Technology Infrastructure
- Updating and/or Developing Current IT Equipment
- Training Staff on New Systems
- Materials and Support Services related to New Technology
There are two types of money grants available. The choice is up to you depending on your current business goals and objectives.
Grow Your Business Online Grant
With up to $2,400.00 available to each organization, this grant is for businesses looking to enhance e-commerce initiatives and increase online sales.
However, there are few CDAP requirements to note before applying online. Your business must:
- For-profit
- Registered or incorporated
- Consumer-facing
- Have at least 1 employee OR earned at least $30,000 in revenue during the latest tax year
- Commit to a digital adoption strategy for six months
- Agree to participate in surveys, reports on the experience, and to publish your company as a recipient
Boost Your Business Technology Grant
For those looking to increase productivity, consolidate software, or upgrade current digital tools, the Boost Your Business Technology Grant offers up to $15,000.00 to give that extra boost to your business.
It is designed to improve current operational processes and efficiency by:
- Reducing overhead costs
- Providing speedy transactions
- Faster client response
- Better inventory management
- Updated supply chain management
The application process is fairly simple, done by an online form. That being said, there are a few eligibility requirements to review beforehand.
- You must be an owner, a director, or an authorized employee
- Your business is:
- Canadian
- For-profit
- Has 1-499 employees
- Revenue of at least $500,000.00 during one of the last three years.
If you’re unsure which grant to apply for, check out their online questionnaire to find out.
NetSuite and CDAP
If you’re currently in the process of deciding whether or not to improve your technology stack, the digital adoption plan can be a crucial aspect in getting your business on the right track.
ERP solutions are renowned for their inclusivity across business operations, from marketing to accounting to human resources. However, there’s no surprise in mentioning that they come with a hefty price tag that requires quite a bit of investment.
This is where the CDAP digital adoption plan comes into play. If you’ve been eyeing an ERP solution like NetSuite but have struggled to find the financial resources to move forward, now's the time to apply.
For small and medium sized businesses, this grant can be used towards implementing NetSuite, which will provide companies with that scalability.
For companies who have already invested in NetSuite but need additional digital tools to increase sales, there is a wide range of systems to look into, with the help of CDAP.
For example, you may have NetSuite, but if you’re still moving back and forth between all your other software, that is already stunting your growth. If that’s happening to you, then shopping around for integration software is the next step.
Or if your current reporting tool isn’t providing you with the proper forecasting data to keep up with demand, a business intelligence product is available.
When companies grow quickly without the proper backend technology to move with the demand, their growth can become stunted.
Now CDAP funding can ensure companies have the financial resources to easily invest in digital tools to keep their business on an upward trajectory.
How GURUS Can Help
Headquartered in Montreal, Canada, and serving customers across Canada, our presence within Canada has provided us with first-hand knowledge of the CDAP eligibility criteria.
Our goal, from the very beginning, has always been to help scale up businesses. That also means helping companies make the right decisions for their unique challenges.
If NetSuite ERP and other software solutions are high on your list to invest in, yet financial resources aren’t quite there, we’ll direct you to CDAP and even help with the application process.
Contact our team today to learn more about Canada's Digital Adoption Program and how we can help guide you through the application process.
Request More Info About Digital Adoption and Government Technology Grant