The post-pandemic world is ripe with opportunities for growth. These include corporate strategies that had already begun to unfold in the last decade like the transition to cloud-based business functions. A ,cloud ecosystem is a complex system of interdependent components that all work together to enable cloud services. However, these ecosystems have grown in size, scope, and complexity. Asian enterprises, having reaped the benefits of investing in the cloud, plan to expand across more cloud strategies over the coming year. Countless startups and small-to-medium-sized enterprises (SMEs) have ..read more

Starting a business in Singapore is relatively simple, but it’s still vital for you to prepare for the process. Here are some things you should know before incorporating your business in Singapore. Who can register a company in Singapore? In Singapore, anyone who meets the required standards can be relatively easy to register the company. Foreign investors must use a registered Singapore company incorporation service to comply with the Singapore Accounting and Corporate Regulatory Authority (ACRA). When you work with a good company incorporation service advisor, the process of forming your new ..read more

Despite the pandemic, many employees in Singapore still process their invoices manually. The invoices are usually sent by email as PDF documents, but occasionally they are sent by post, and finally manually keying the data into a database. This process is time-consuming and prone to errors. To help firms and employees avoid the stress and time wasted on invoicing issues, IMDA Singapore is promoting InvoiceNow, which can deliver invoices from one finance system to another using the Nationwide E-delivery network, which is based on Peppol, an internationally-recognized protocol. This allows for ..read more

In today’s workplace, it is impractical for employees to store all their files on a single hard drive. A lot of people need access to files and information when they are away from their desktop computers. They also need to share work and collaborate on projects with other members of the team. For business owners, backing up files while they are away from their office or home can be a challenge, but it can be accomplished by using the cloud. Dropbox is an option for companies that need a cloud system to store their growing data and files. Before you begin using Dropbox, it’s important to unders ..read more

Companies have two options when choosing accounting software: they can either use a cloud-based system or a desktop system. In recent years, many businesses have begun to migrate from desktop software to the cloud. Cloud-based software offers finance teams the ability to manage accounting from anywhere, on any device. As businesses become more mobile, they need to upgrade their systems and processes from on-premises software to cloud solutions such as Xero or QuickBooks Online. What is desktop accounting software? Before the advent of cloud computing, most accounting software was installed ..read more

The Southeast Asian market is increasingly becoming a popular destination for global business expansion—and with good reason. The region offers businesses a launching pad for tapping into a highly engaged customer base, a growing economy, and a promising talent pool. The region is also complex, comprising eleven countries with different languages and levels of development. Each market has its expectations, in terms of product categories and price levels. Below are some tips for companies looking to expand into the Southeast Asian market: 1. Build a partnership Partnering with local businesses ..read more

The ASEAN economy, with a population exceeding 680 million people, is relatively large. A fast-growing company with global ambitions may find Southeast Asia a good place for expansion. Foreign businesses looking to capitalize on growth in Southeast Asia must be mindful of the complex environments they will face and plan accordingly. In this article, we'll look at five challenges faced by foreign companies entering Southeast Asia and how to deal with them. 1. Laws and regulations can be complicated There are many differences among Southeast Asian countries regarding business and employment law ..read more

Southeast Asia's population is growing rapidly, numbering around 680 million. Not only that, but the economies of Southeast Asia are also among the fastest growing in the world. According to Statista, in 2020, the total estimated gross domestic product of all ASEAN states was approximately 3.08 trillion U.S. dollars—a significant increase from previous years. Southeast Asia offers a business-friendly environment for foreign investors. For example, Singapore has low taxes for companies and a very easy setup process for new businesses. Furthermore, Singapore has been consistently ranked among t ..read more

The Goods and Services Tax (GST) in Singapore is also known as a value added tax (VAT), levied on all imports and nearly all supplies of goods and services. Sales and leases of residential properties, importation and local supply of investment precious metals, and most financial services are exempt from GST. The export of goods and international services are zero-rated. GST is an indirect tax in Singapore, currently set at 7%. It applies to the selling price of goods and services provided by GST-registered business entities. In Budget 2022, the Minister for Finance announced that the GST rate ..read more

What is compliance service? Compliance services refer to hiring people or companies to help ensure that the company complies with industry standards, regulations, and laws. These services include maintaining these standards, communicating updates and changes to relevant laws, standards, and regulations, updating internal policies, and communicating internally. If the government enforces this as a non-optional requirement for companies in a specific industry, these services will become an involuntary cost for the company. If you want to incorporate a company, you need to stay compliant with Sin ..read more