Meeting Your Accounting and ERP Needs
Singapore: A State with a Vision
The short view is that Singapore is a collection of individual companies competing with each other. The long view is that collectively we are one of the most powerful economic entities in Southeast Asia.
Traditional thinking, for example, would have each company maintaining an individual accounting department, in exactly the same way it has worked for centuries. That means the same cost is duplicated for each company. No tradition requires that each business generates its own electricity, or supplies its own clean water. It is wasteful to maintain all this pointless redundancy.
The New View
Modern-thinking young business owners understand that a single accounting firm can manage the accounting needs for hundreds of companies. This removes the necessity of endlessly duplicating the labour force for each company. Instead of paying for a dozen accountants, you could salary a new CFO; you could hire 20 new factory workers; you could acquire a new business and expand your company’s capabilities.
A single large international accounting firm, like PushDigits, not only consolidates these efforts, but possesses hundreds of thousands of hours of practical work experience and skills from around the world. When there is that much information and intelligence gathered in one place, no accounting or tax question ever needs to go unanswered.
If your account representative doesn’t have an immediate answer to your question about tax codes or Free Trade Zones for exporting your product to France, or Chile, s/he will have dozens of fully qualified Chartered Accountants sitting nearby, selected from around the world for their vast experience, who already know the answers.
It would be impossible for your own staff to be as knowledgeable as our massive dedicated team. It would be unreasonable to expect them to have the insight or expertise available that you would find at PushDigits.
Join the Modern Revolution
Many companies are still unaware of how outsourced accounting, auditing, tax reporting, bookkeeping, or accounting software consultancy actually works. Let’s look at it a little more deeply.
SMEs or giant corporations all need essentially the same information. Smaller outfits manage with off-the-shelf software such as QuickBooks, Xero, ZOHO, or others. These are not very customizable, but possess so many useful tools that they can handle most needs for a smaller business.
Bigger companies obtain great value from Enterprise Resource Planning (ERP) software such as SAP, Sage, Tally ERP 9, Exact Max, Epicor, IFS, or even proprietary programmes such as Microsoft Dynamics AX. When these are branded programmes, you have to apply to the company for upgrades and specific functionality, for which they will charge a fee to create.
Others, such as SAP ERP, are open source programmes for which you can create your own modules, select from shared modules available online, or hire someone specifically to design precisely the functionality you need.
Fast-growth companies might prefer INTACCT, a Software-as-a-Service (SaaS) financial management package. It is light, easy install, but supports 2,400 users, and 250,000 daily transactions. But how you collect your information is far less important than having the right people around that know what to do with it!
Businesses rely on accounting activities to stay aware of their financial status so they can make timely, well-informed decisions. It is essential to understand where the money is, where it’s going, where it’s coming from, and how much is going to be available at any given time. Without this information it is hard to be sensible about investment decisions, acquisitions, divestitures, research, staff hirings, product development, and so much more.
When you outsource your accounting and bookkeeping needs to PushDigits, you get access to some of the top accountants in the world. We can run your accounting software perfectly, providing results with 100% accuracy, which will give you the confidence to drive your business forward.Upgrading
If you think it’s time for an upgrade, we can help with your switchover to a high-potency ERP solution. Once we’re done, it is just like finding a “Turbo” button on your computer. Suddenly everything is faster; tasks are completed quicker; new functionality is revealed; and you’re doing things you never even thought were possible before, such as deep data dives, or sophisticated reporting.
Teaching your employees how to use the new program is all part of the package. We can provide direct, in person training, and that is supplemented with online training & lessons that can be reviewed endlessly when someone forgets how to accomplish a seldom-used function. It’s all there, 24/7/365, anytime you need it.
Having a discrete accounting department in this modern high-security world is little more than a leftover vanity from the 20th century. It’s also extremely costly compared to outsourcing your accounting needs to a skilled and professional organization like PushDigits.
There are so many better places to put that accounting budget to use. It’s time to think about breaking with tradition and wholeheartedly joining the 21st century!
Give us a call today and let’s talk about it. We would love to hear from you.