In Singapore, running a business is more than just chalking up sales and having high profitability. You have to ensure that the daily operations are smooth running and the Company has a healthy bank balance. In addition, you also need to ensure non-core functions are taken care of, you need to make sure that the company is operating within the prescribed rules and regulations in the jurisdiction that your Company is registered or have transactions with. You also need to adhere the rules found in the industry that your business is in, including the licenses that you are required to hold for the running of the business.
Having proper ERP solutions can help you achieve the above. The solutions can help keep your mind at ease, while you concentrate on the core functions like in reaching out to your existing and potential customers to boost sales and for sustainability purpose.
The ERP solutions can provide you with a start to end of your whole business process and provide the following benefits. Firstly, the streamlining of your current process will help to reduce duplicated, inefficient and redundant steps.
Secondly, with the correct recording of the transaction right from the start, at the inception and flow to the end, which translates into your accounting records, you are assured that on the accuracy and timeliness of the recording of all the transactions in your Company.
Thirdly, when duplicated steps are reduced, you can channel the time saved to perform other tasks to help your business growth. Fourthly, with proper accounting records, you are also guaranteed that your Company adheres to all the rules and regulations. Thus you will not get any penalties or fines from wrong filing or late filing or risk losing your license due to wrong or late filing. Your Company’s reputation is kept intact as well.
Lastly, operational wise, with the use of ERP system software Singapore, you will be able to automate some of the tasks. This will help you free up some of your employees’ time as less time is spent investigating and reconciling any differences and also reduce errors from manual inputs.
With the benefits listed above, purchasing an ERP software should definitely be one of the top priority to do list for your business, especially when your business is expanding. An ERP software is a worthwhile investment which will reap tangible and intangible rewards for the business owners.