Why Singapore SMEs should consider cloud accounting software
In terms of doing business, Singapore is one of the leading places for the ease of doing business for many years.
Why is that so?
Singapore has been proud of being able to lead the world with its use of Information technology in setting up companies and also to do transactions with the government. All government submissions are mostly done online and also with the new system of using a corporate password instead of the SINGPASS which is every Singaporean’s personal password to work with the government. The country is slowly transforming into a society of the future in terms of the use of Information Technology and also the use of new technology to improve efficiency.
That said, the accounting sector in Singapore is one of the oldest industries in Singapore and also one that is very well established. Singapore being a big financial hub for the region and Asia manages a lot of funds.
Coupled with the ease of doing business, Singapore has one of the world’s largest number of incorporated companies and with this needing a strong army of accountants and auditors to assist in the management of all this local and offshore companies that are generating income for the world economy and all this enterprising individuals.
Cloud Accounting Software such as XERO Accounting Singapore, is one of the few accounting software that are becoming very popular in Singapore in recent years.
So why should a business use cloud based accounting software? Let us discuss this a little:
Cloud Based Accounting Software allows you to run your businesses on the go
The most important thing in running a business is sales. With no sales, there is not revenue and there is no growth. That leaves the entrepreneur having to be out of the office most of the time to meet up with customers to grow their business so that they can bring money back to the company.With the young entrepreneur being out of the office most of the time, how is he or she going to be able to settle the administrative work of issuing invoices, receipts and keeping track of cash flow?
The best way is to use the Xero Accounting Software Singapore to help him or her with the work, because there is an mobile application that you could take advantage of to use the software features anywhere you are.
The software is able to support invoicing, receipt sending, expenses claims and many more Cloud Based Accounting Software allows you to manage your business on the go
Not just being able to issue invoices and receipts, Xero Accounting Software is also able to help you with receivables by issuing automatic reminders to the client’s email so that you do not have to do it alone.With the time the entrepreneur has on hand, he or she is able to work on the core business and also to work on growing the business through strategic plannings.
Cloud Based Accounting Software is cheap and do not need manual updating or backing up
If you work with Xero Accounting Firm Singapore like Koh Management, you will not need to worry too much about the price because we package them together in our monthly packaged price services.If you’re just running it on your own, it could cost $30 over or more depending on where you are from.
The good thing about using such software for your accounting is also that updates are run from the site itself after multiple testing, so you do not need to worry about updating manually. Also when it comes to backing up to ensure that your systems will not be in trouble if there is virus attack or a crashed computer? There’s no such worries anymore because the servers are backed up and protected by the XERO HQ team.
Koh Management is a leading Accounting company in Singapore, we look forward with working with entrepreneurs to deliver high quality accounting work for your business needs.
We also have management services for customer who require additional administrative help in running their companies.