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Your Global Outsourcing Hub of Choice – 3E Accounting Singapore
In recent months, we have seen an acceleration in trend towards remote working due to social distancing measures by many countries, and as an extension, outsourcing of business functions. The feasibility and benefits of outsourcing are clear:
- Improved margins through reduced need for rental or purchase of large office space and its related maintenance costs,
- Improved access to a talent pool with the best cost and capability offering as well as a
- Enables a greater focus on core business.
In recent times, the purpose of outsourcing for professional services has risen in importance for business continuity planning and crisis management. Choosing the right outsourcing partner goes beyond assessing the areas of capabilities to match your company’s needs, it is also important to consider the country which the outsourcing partner for professional services is based in.
For business continuity and seamless business operations, it is important to identify an outsourcing operating environment that has a high level of integrity yet with the broadband connectivity and infrastructure to ensure uninterrupted delivery of services. And this, Singapore has in spades!
Strategically located along key trading routes together with robust infrastructural support for sea and air trade, having outsourcing partners in Singapore provides a geographical advantage for international businesses looking to tap into the Asia region’s opportunities as well as for Asian businesses to go global. The country also demonstrates its business-friendly regulatory environment, ranking number 1 on The Heritage Foundation’s 2020 Index Of Economic Freedom. Through the index, Singapore performs well on all 4 verticals of Rule Of Law, Government Size, Regulatory Efficiency as well as Open Markets. With reputable governance on a country-level, you can be ensured that our company’s operations are safeguarded when engaging outsourcing partners in Singapore.
The country ranks within the top 10 globally in IMD World Competitiveness Center’s IMD World Talent Ranking 2020. This demonstrates the investment in and development of home-grown talent, the extent to which Singapore taps into the overseas talent pool, as well as the availability of skills and competencies in the talent pool. Notably, Singapore ranks number 1 in the vertical of Readiness, representing the country’s relative higher availability of skilled and competent talent pool. You can be assured of your Singapore outsourcing partner’s quality of manpower.
The workforce in Singapore is multi-cultural, highly educated and motivated. Based on official statistics, the literacy rate among residents aged 15 years and over is at 97.5%. 57.3% of residents aged 25 years and over possess post-secondary qualifications, with 11.2 mean years of schooling. The seasonally adjusted employment rate is at 97.1%. Labour relations are maintained at a healthy level with a variety of trade unions to cater to the members’ concerns.
Remotely Support Overseas Clients in Hong Kong
At 3E Accounting, we recently organised the Virtual Launch of our Hong Kong office in July 2020. We were able to do so in a timely manner despite the ongoing travel restrictions and the COVID-19 pandemic due to our investment in technology and a highly-qualified Singaporean workforce. Similar to the role of an outsourcing partner, 3E Accounting Singapore HQ staff were deployed to remotely support our overseas clients in Hong Kong. Along with our ongoing efforts and investments into technology, digitization and automation, we are able to deliver seamless support to our clients. We have received positive feedback, with a strong appreciation for our bilingual language skills in both English and Mandarin, our strong numeracy skills as well as our professional competencies to deliver quality services beyond excellence.
Speak to us to find out more about how we can be your trusted outsourcing partner for professional services.