Royal Bank of Canada (RBC) has launched a new a tool, dubbed MyBusiness Dashboard, to enable small business owners in Canada to make faster and better decisions to manage and grow their businesses.

Using the new tool, business owners can view current and complete summary of their business performance on the go and on any device without having to switch between multiple spreadsheets and apps or manually compile and interpret the data, the bank claims.

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MyBusiness Dashboard, which is free to any small business owner in Canada, securely aggregates information into one dashboard, enabling business owners to plan ahead, allocate resources and make more informed decisions.

It also offers specialised lists of proven apps that are developed by industry, such as bookkeeping, workforce management, sales tracking, website analytics and social media monitoring.

Through peer tracking capabilities, the owners can also see how they compare to industry peers. They can use industry benchmarking and best practices to further assist with daily decisions.

RBC vice-president of small business Jason Storsley said: “We’re always looking for innovative ways to simplify the lives of business owners. MyBusiness Dashboard provides business owners with a powerful view into real-time business performance to let them see more, know more and do more for their business.”

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“The surplus of apps and software available to small business owners can be overwhelming, and it’s difficult to know which ones will provide the most impactful information.

“MyBusiness Dashboard cuts through the noise by suggesting the right tools and metrics that will help business owners address their biggest challenges and help them achieve their goals.”