SPEND MANAGEMENT, FINANCE GUIDE
Taxes are the best part of doing business in Singapore. Sounds crazy? Well, Singapore is a low-tax environment, and the Inland Revenue Authority of Singapore (IRAS) has set up straightforward reporting systems that many consider to be miracles of efficiency.
In the long run, CFOs will be responsible for analysis, strategy, and sound financial advice. The ideal CFO is one that can accurately gauge the company’s needs and best interests, and provide the guidance and digital tools it needs to succeed for years to come.
Many commonly believe that expense report fraud—or any kind of financial fraud, really—happens more often in large corporations. After all, corporations have the power to make million-dollar transactions, and it would be easy for employees to quickly “mark up” a few expenses, right?
Expense reimbursements are something every growing small business will have to deal with at some point.
spend management, template
The expense policy is one of the many formal documents a growing business needs to scale successfully. Reimbursing employees’ out-of-pocket business expenses is not only a good business practice—it’s required by law.
Now that you know what a corporate credit card is, it’s time to decide which people in your organization need one. You can’t realistically issue every single person a corporate credit card—that’s highly irresponsible and can quickly open the door to potential fraud and misuse of funds.
While the roles of the CEO (chief executive officer), COO (chief operating officer), and CIO or CTO (chief information, or tech officer) can be quickly intuited, CFOs tend to baffle employees and stakeholders alike. What do they actually do? Are they not simply glorified accountants? Does a company even need one?
EXPENSE MANAGEMENT TOOLS
There’s a wide range of accounting software for a growing company to choose from, but if you’re not an accountant, you may miss out on each one’s unique subtleties.
FINANCE GUIDE, SPEND MANAGEMENT
Startups today usually have a chief executive officer and (probably) a chief technology officer. But do they really need a chief financial officer?
SPEND MANAGEMENT, EXPENSE MANAGEMENT TOOLS
As your workforce grows or your business needs become more sophisticated, your employees may have to use company money to pay for business expenses. It's important to make sure you're reporting them correctly.
Entrepreneurs have no trouble coming up with new products and business models. But when it comes to crunching the numbers and making sure the business isn’t spending more than it makes—well, that’s what CFOs are for.
A chief financial officer is responsible for ensuring that their company is spending wisely and following best financial practices. A CFO’s finance know-how is especially valuable in a startup, where labour is stretched thin and employees are often asked to play multiple roles.
expense management tools
There are plenty of corporate card providers in Singapore, and naturally, you want to know which is the most affordable and most beneficial for your company. A great card program combined with a transparent expenditure management policy can reduce excessive costs and improve employee satisfaction.
expense management tools
There are many ways to pay for company expenses, from your own cash or card to one provided by a company. A corporate credit card can be a great way for companies to mitigate excess spending and track possible fraud—when implemented correctly.
expense policy, spend management
Companies don’t need to go overboard with fancy expense policies that don’t actually serve their employees’ needs. Instead, they should pay attention to millennials’ spending activity and develop policies that will actually be used.
Without careful spend management, staying in control of these cloud tools—financially and operationally—can be a major challenge.
Businesses often start out with pen-and-paper expense management, but in the long run, this may end up costing you significant time and money.
expense management tools
Expense management platforms come in all shapes and sizes. These tools and apps offer a wide range of features, from receipt scanning and recording and reimbursement management, to end-of-month expense totaling. But aside from pricing, how do they differ? And most importantly—which one is right for your startup?
Your business may be losing money without even realizing it. Here are the top 6 ways companies in Singapore lose out on precious funds.
spend management, budgeting
It can be tricky to develop accurate spending forecasts for the future. Stay on track by considering 9 of these common business expenses.
Improved education, widening Internet access, increasingly affordable technology, and government support is resulting in the meteoric rise of “the Southeast Asian entrepreneur.” These entrepreneurs are starting businesses, getting funding, and spending big on scaling. Here are some of the biggest company spending trends across SEA.
At the time of writing, WeWork is close to becoming a textbook case - in how not to handle company resources.