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How to maintain Accurate Inventory for your business?

  As discussed in our previous article, inventory management or inventory control is something that should be front-of-mind for any owners in wholesale distribution business. Businesses that understand the importance stay ahead, while others do not seem to realise just how many dollars are falling through their fingers. Can you imagine trying to run a business when you do not know how many widgets you have in your inventory? Or …Read More

Why is Accurate Inventory important for your business?

  Businesses often depend on inventory to operate or fill client orders. Inventory is a major company asset that helps businesses with tasks such as planning and staying within budget. Hence, businesses should see keeping accurate inventory records as a major management tool that brings multiple benefits. The retail industry, especially, is always constantly evolving and developing. As a modern retailer, it is imperative to constantly adopt new strategies, workflows …Read More

What’s new in Technology? Chatbots, the new emerging industry feature

  Previously, the idea of an Artificial Intelligence (AI) powered agent answering customer questions in real time was still considered out of reach for all types of businesses. Today, these agents known as chatbots are very reachable and real, with business adoption growing exponentially. According to Forrester’s senior analyst, Wang Xiao Feng, Singapore is probably the most advanced in terms of investing in Artificial Intelligence powered agents such as chatbots. …Read More

Why should businesses adopt E-Leave system?

  Before the introduction of E-leave system, businesses have to use the traditional way of tracking employees’ leave records, through paperwork. This often causes distress among employers or HR Administrators, as they have to manually keep track and maintain huge stacks of leave application forms. Businesses with mid-to-many employees often find it difficult to keep track of when their employees go on annual or sick leave. This will then cause …Read More

How competitive are Singaporeans digitally across the globe?

  Digital competitiveness is growing at such a rapid rate as more advancements are being made through technology. In this sophisticated and advanced century where people are reliant on technology to survive and grow, research organisations publish reports based on their findings to find out countries’ digital competitiveness across the globe. These reports are based on several criteria that measures countries’ ability to adopt and explore digital technologies leading to …Read More

Should Businesses use automated Time and Attendance System?

  Regular attendance and punctuality are vital attributes for all employees. It is imperative for employees to attend work regularly and to arrive at work on time, because failure to do so detrimentally affects employee morale and productivity. Excessive and unauthorised absenteeism or tardiness is liable for disciplinary action by an organisation, up to and including termination of employment. Organisations may have leave of absence policies to describe an employees’ …Read More

Impact of SST on Malaysia’s Economy

  With Pakatan Harapan’s win over the GE14 Elections, the return of the Sales and Service Tax (SST) after the 3-year implementation of Goods and Services Tax (GST) had been widely discussed. It was one of the most memorable promises made by the new Prime Minister, Mahathir Mohamad, to Malaysia’s citizens. With GST’s implementation that caused many financial problems for business owners and the people of Malaysia, many are wondering …Read More

Why are Accurate Financial Statements important?

Business owners needs the availability of accurate financial statements to make improved business decisions. The significance of financial statements cannot be overlooked, as they are imperative for any organisation. Some of the most important financial statements include: Income Statement, Balance Sheet, Statement of Stockholders’ Equity, Cash Flow Statement and Profit and Loss Account. The numbers revealed through these financial statements play a crucial role in allowing users to make informed …Read More

How do Small and Medium Enterprises affect Singapore’s Economy?

  State of Singapore’s SMEs There are many huge countries with vast lands and abundance of natural resources that maintains a powerful economy, such as China and United States. Singapore, on the other hand, is known for being a small country with limited arable land but surprisingly has one of the world’s strongest economy. Singapore’s economy has an unemployment rate of 2.1% and per capita GDP of nearly S$53,000. This …Read More

The Importance of a Human Resource Management (HRM) System

A human resource management system (HRMS) is a form of HR software that combines a number of systems and processes to ensure the easy management of a business’s employees and data. If many of the processes are still done manually, consider shifting to HR system as it reduces administrative processes due to all main functions of HR are connected and can be easily accessed from one place. The following are …Read More