Trade and services together form an important sector in the business landscape of Singapore and Malaysia. Trading and service-oriented businesses function in relatively diverse set ups, that are connected and dependent on numerous internal and external business processes. While the Industry 4.0 wave has altered the way these businesses operate, bringing in more streamlining, it has also altered existing models of operations and created a unique set of challenges.
It is crucial to find the right balance of uniformity when addressing each project, as it would help standardize procedures, reduce costs and get more done with fewer resources. However, this has become challenging due to the increasing diversity in service requests. In the following, we will discuss major challenges faced by the sector and how enterprise resource planning (ERP) frameworks from Focus Softnet would help in overcoming them.
Trade and service establishments frequently end up spending more on their running costs and find it hard to manage operating costs. This may be due to the lack of financial management systems with budgeting features, or due to the lack of planning modules integrated with other departments and operations.
A major reason behind out-of-control costs and unregulated expenses is not having cost monitoring systems in place. Trade and service establishments need automated and integrated systems to manage and monitor costs, including planning and budgeting modules.
Slow or delayed complaint-resolution is usually a big bone of contention between service providers and customers. Delay in complaint settlements is often caused by manual processes between the receipt of complaints, work allocation and follow-up. Manual processes are not only slow and cause delays, but are also unreliable, unsuitable in case of high complaint volumes and more prone to errors.
Businesses that have not yet deployed ERP software solutions to automate processes are finding it hard to sustain profitability, especially due to the fact that many new entrants and competitors are introducing digital transformation to conduct their daily operations.
Small and midsized businesses often delay setting up standardized models for customer service. Without such models, businesses cannot monitor processes, fail to improve profitability and face constant challenges in delivering efficient customer support.
No matter how keen and enthusiastic a service provider is in providing good service, it would be quite challenging to fulfil customer expectations without standard processes. It would also result in a lack of consistency in the type of services rendered, with no way to control or enhance any aspect of operations.
Whether you own a small or mid-sized business, Focus Softnet's cloud ERP software enables you to plan, track and streamline all stages of project management with its smart project planning features. Equipped with our ERP software, you can bring order to all projects and manage them from a single platform.
The cloud-based ERPcloud-based ERP software covers all aspects of business management including inventory, resource and supply chain management. It would assist you in inventory planning and automated restocking for unified and total control through its advanced processes which are powered by business intelligence.
The ERP software is loaded with multiple modules for each area of operations, such as finance, inventory, HCM, sales and so on. All modules are integrated with and inter-connected to help you reduce data duplication and data silos. They can also be customized to suit your business requirements.
Our ERP software is also equipped with a powerful CRM that would revolutionize how you interact with your client and prospects. With its 90 + power packed features for personalized communication and contact management, you'd be able to engage with your customers more effectively.
Online approval processes provided by our ERP software would transform your business operations and accelerate task executions to an unprecedented level. By enabling you to set workflows and hierarchies, the ERP software would help in monitoring all operations at each level.
With integrated modules for finance management, Focus Softnet’s ERP software solutions make sure no element of financial data is left uncovered and give you access to past and present transactional data, right on your fingertips. As the best performing ERP system in Singapore, our applications are compliant with both Singapore’s GST laws and Malaysia’s SST regulations.
You would be able to track all contracts, their life cycles and set reminders with our ERP software to notify you about upcoming renewals. The contract management features would also help you track every step of the process by documenting all the information and storing it for user-defined access.
The billing features of our ERP software are designed to automatically compute taxes for every invoice and record the same in the database, making it easier for you to file returns. You can draft bills and invoices right from the ERP system by using existing templates or customizing them to suit your requirements.
