What Are the Benefits of Automating Procurement Processes? In every company, the procurement process involves a lot of personnel and paperwork. Automating procurement processes is a great way to minimize time, effort, and costs. Some of the major benefits of automating procurement processes are: It overcomes all the hassles and chaos associated with piles of…
Procurement Automation Software: The Basics and Why You Should Consider It If you are a company struggling to maintain and record all that purchase orders and the inventory, procurement automation software can be your best friend. With digital transactions increasing rapidly all over the world, procurement automation software can free you from the dread of…
Benefits of Digitalization for SMEs: Why Modern Businesses Are Using It Digitalization has allowed modern businesses to connect with anyone and sell their products and services anywhere in the world. Today, a company with poor digital infrastructure will fall behind in competition and lose customers. Similarly, digital media has become an integral part of life…
Skies Reopened With Hong Kong – Singapore Travel Bubble In the COVID-19 next normal, ‘travel bubble’ and ‘travel corridor’ are the new buzzwords. More and more countries have started to join in the talks of making pacts and establishing travel bubbles. For Hong Kong and Singapore, these plans are about to become a reality, and…
Payment Options for Singapore E-Commerce Businesses: Which is Better for You? During the first two decades of the 21st century, e-commerce has been one of the largest and the most impactful business concepts in the world. It has changed the way we buy and sell things. Sellers have the option to sell their products to…
About Operational Requirements After finishing your company’s registration in Singapore, there are still operation requirements you need to do before you can open. There are a lot of operational matters to consider before your company can start operations. These include getting work passes, finding an office space, and those related to statutory regulations. Singapore company…
About Post-incorporation Requirements After your company incorporation, you must fulfil tasks for a new company before you can start operations. Some of them are setting up the statutory books, purchasing a company seal, and taxes and licenses registration. Other tasks are related to the details of the business operations like bank account opening, setting up…
About Variable Capital Company Incorporation Singapore is Asia’s leading fund management hub and their growth has reached trillions to date. The introduction of a new corporate structure that caters to investment funds is another reason for this recognition. The Variable Capital Company (VCC) complements recent unit trusts and the investment companies. These funds are the…
About Holding Annual Meetings When you hold an annual meeting, you are complying with the Companies Act of Singapore. This compliance requirement is issued by the Accounting and Corporate Regulatory Authority (ACRA). The shareholders and its directors are accountable if their company fails to hold an annual meeting. It is strictly mandatory and there is…
About Annual General Meetings In Singapore, it is mandatory for a newly developed company to conduct their first AGM in the first 18 months of incorporation. This is to comply with the Company’s Act of Singapore. The subsequent AGM meetings must take place once in every economic year. The other meetings should be within 15…
About the Risks and Benefits of Nominal Director Service All companies that are registered in Singapore should have at least 1 director who is a resident. This regulation is according to the Companies Act. If the person is a foreigner and incorporates a Singapore company but does not have a local person who acts as…
About Penalties of Directors Global businesses are starting to centralize their functions in the financing department, wanting to improve their efficiency. They will do this by putting their finance and reporting functions in a shared service centre rather than replicating the whole functionality structure in each country. The change is because of the necessity to…