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June 15, 2023

Accounting and Bookkeeping Services in Singapore: Which One Should You Get?

Do businesses have to choose between accounting and bookkeeping services Singapore?

Businesses in Singapore do not necessarily have to choose between accounting and bookkeeping services. Even if these services are different from each other, they are most of the time interrelated, and the same service provider can provide them. It is only right to find a reliable partner when outsourcing business solutions services.

In this article, we will differentiate accounting and bookkeeping services Singapore and break down both services’ business benefits. Learn more if you continue reading below!

Accounting vs. Bookkeeping Services

  • What You Need to Know About Bookkeeping Services

    Bookkeeping is the fundamental process of recording all the financial transactions of a business or organisation, whether a small enterprise or a large corporation. The transactions recorded in bookkeeping include every financial activity the business undertakes, such as sales, purchases, receipts, and payments.

    Bookkeeping aims to ensure that all financial records are maintained and updated accurately and in a timely manner. Maintaining accurate and up-to-date financial records is important because they form the basis of financial reporting and analysis. Only accurate or complete financial records can lead to correct financial reports, which can ultimately impact the decision-making process of the business.

    Moreover, bookkeeping services may include tasks such as maintaining a general ledger, which is a record of all financial transactions, including categorised transactions into appropriate accounts, reconciled bank statements to ensure that the transactions recorded in the ledger match with bank records, and produced financial reports, like income statements and balance sheets.

    Bookkeeping also involves ensuring compliance with various financial regulations and tax laws. This includes maintaining records of sales and purchases, tracking expenses and income, and ensuring that all financial records are appropriately categorised and reported.

  • All About Accounting Services in Singapore

    While bookkeeping focuses on recording and categorising financial transactions, accounting involves using that financial data to analyse and interpret a company’s financial performance. Accounting services help businesses make informed decisions by providing an accurate and comprehensive picture of their financial situation.

    One of the key tasks of accounting is to prepare financial statements, such as balance sheets, income statements, and cash flow statements. These statements provide a summary of a company’s financial activities. They are used to assess the financial health of the business.

    Another vital task of accounting is analysing financial ratios. Financial ratios are used to compare different aspects of a company’s financial performance, such as profitability, liquidity, and solvency. By analysing financial ratios, accountants can identify areas where a company may be underperforming and recommend improvement.

    Accounting also plays a crucial role in tax compliance. Accountants can help businesses prepare and file their tax returns, ensuring they comply with tax laws and regulations. They can also provide tax planning advice, assisting businesses in minimising their tax liability and maximising their tax savings.

    Furthermore, accounting services may include budgeting, forecasting, and financial analysis. These services help businesses plan for the future and make strategic decisions based on their financial situation.

Why Choose When You Can Do Both?

Accurate and up-to-date financial records are critical for effective financial management and decision-making. Proper bookkeeping makes producing factual financial statements or conducting meaningful financial analyses possible.

Because of the close relationship between bookkeeping and accounting, many businesses outsource services in Singapore to a single provider. This can be a cost-effective and convenient way to ensure that all financial activities are properly recorded, analysed, and reported.

However, some businesses may separate accounting and bookkeeping services in Singapore and work with different providers. For example, a business may choose to outsource bookkeeping to a specialised bookkeeping firm and accounting to a separate accounting firm. This may be beneficial if the business requires more specialised accounting services, such as tax planning or financial analysis.

Deciding Whether to Outsource Bookkeeping and Accounting to a Single Provider or Not

Businesses should consider their specific needs and preferences when deciding whether to outsource bookkeeping and accounting services to a single provider or separate them into two different service providers.

Outsourcing both services to a single provider can be cost-effective and convenient. Businesses can benefit from streamlined communication and more efficient workflow by working with a single provider. In addition, a single provider may offer a more comprehensive suite of services, including bookkeeping, accounting, tax preparation, and financial planning.

However, there may be better options than outsourcing to a single provider for some businesses. Suppose a business has more specialised accounting needs. In that case, working with a different accounting firm that can provide more advanced services, such as financial analysis, forecasting, or tax planning, may be beneficial. Working with multiple service providers can also cause redundancies and reduce the risk of a single point of failure.

In evaluating potential service providers, carefully considering their qualifications, experience, and reputation is important. Look for providers with a track record of delivering high-quality services to businesses in your industry. Consider their pricing, as well as their availability and responsiveness to your needs. Finally, take the time to review contracts and service level agreements to ensure that the provider can meet your specific requirements.

Ultimately, outsourcing bookkeeping and accounting services should be based on thoroughly analysing your business needs and evaluating potential service providers. With the right partner, outsourcing these services can help businesses save time, reduce costs, and improve their financial management capabilities.

Consult ContactOne Now to Help You Make Sound Decisions

Are you looking for reliable and professional accounting and bookkeeping services in Singapore? Partner with ContactOne. Our experienced team of accounting professionals can help you manage your financial records, prepare financial statements, and provide valuable insights into your business’s financial performance. Contact us today to learn more about our services and how we can help your business succeed.

Call +65 6333 0633 and +65 8666 3633 or visit our website at www.contactone.com.sg. Grab this chance to learn more about us and what we do. We have a bunch of services in store to assist you in growing and managing your business. With the right people and strategies, you can stand out in a market full of competent businesses like Singapore.

June 15, 2023

The Purpose of Annual General Meetings

Do you ever wonder why Singapore companies conduct annual general meetings?

There is more to an annual general meeting (AGM) than reporting on a business’s activities and financial situation from the previous year. From fulfilling legal obligations to providing a platform for shareholders to come together to discuss integral matters related to the company, all this happens during the annual general meeting. While the agenda and requirements for AGMs may vary, it has one goal: to better a company’s performance in all business aspects.

Learn more about the purpose of AGM in this article. Continue reading.

The Importance of Annual General Meetings

In Singapore, the purpose of conducting is mainly in compliance with the Singapore Companies Act and the company’s constitution. Holding AGMs serves as an essential event for companies to fulfil their legal obligations and provide a platform for shareholders to participate in the decision-making process. Here are some critical purposes of conducting an AGM in Singapore:

  • Financial Reporting

    The annual general meeting is a crucial event for companies registered in Singapore. While it serves as a platform to communicate with shareholders, it also provides essential information about a company’s financial performance. All this happens during the AGM as companies present and discuss their financial statements, typically including the balance sheet, income statement, cash flow statement, and auditor’s report.

    Moreover, shareholders could review these financial statements and ask questions about the company’s financial performance during the meeting. They can seek clarifications on specific line items, financial ratios, or any other aspects of the financial statements that may be of concern. This interaction allows shareholders to engage directly with the company’s management and make informed decisions about their investments.

  • Director’s Report and Audited Accounts

    One of the key components of the annual general meeting in Singapore is the presentation of the annual report by the company’s directors. This report contains an in-depth overview of the company’s operations, financial performance, and prospects. These documents help shareholders get a good grasp of the company’s performance over the past year and where it is heading in the future.

    The annual report typically includes various sections covering different aspects of the company’s activities, including the Chairman’s Statement, CEO/Management Discussion and Analysis, Financial Performance, Corporate Governance, and Future Outlook.

  • Election and Appointment of Directors

    Shareholders have a significant role in shaping the composition and governance of the company. They observe this obligation during the annual general meeting by electing or re-electing directors to the board. This process is crucial because the board of directors has an integral role in the company’s operations, setting strategic direction and representing the interest of shareholders.

    Furthermore, shareholders can vote on the appointment or re-election of directors, which is typically conducted through a formal voting process. The shareholders receive information about the candidates standing for election or re-election, including their qualifications, experience, and any relevant disclosures, allowing them to make informed decisions about the individuals who will represent their interests and make critical decisions on their behalf.

    The directors’ election or re-election is conducted through proxy voting or show of hands. Proxy voting allows shareholders to appoint someone else to vote on their behalf. This mechanism enables shareholders who cannot attend the AGM in person to participate in the voting process.

    The outcome of the voting process determines the elected or re-elected candidates to the board of directors. Shareholders’ votes are counted based on the number of shares they hold, giving more weight to shareholders with a larger stake in the company. The elected directors then assume their responsibilities and contribute to the company’s governance.

  • Dividend Declaration

    The annual general meeting is also the company’s opportunity to announce and declare dividends. These are the payments made to shareholders as a distribution of profits and a way for companies to share their financial success with shareholders and give them a return on their investment.

    There is no other best occasion to communicate dividend policy to shareholders than the AGM. The dividend policy outlines the company’s approach to distributing profits. It may specify factors such as the frequency of dividend payments, the percentage of earnings allocated to dividends, and any criteria or conditions that need to be met for dividends to be declared.

    The company’s management or board of directors typically presents information about the dividend policy, explaining the rationale behind the decision and providing insights into the company’s financial position and future cash flow expectations. This information helps shareholders understand the factors considered when determining the dividend amount. It enables them to evaluate the potential returns on their investments.

    Once the dividend announcement is made during the AGM, shareholders receive information about the specific dividend payment. This includes details such as the dividend per share, the total amount to be distributed, the record date (the date on which shareholders must be registered to be eligible for the dividend), and the payment date (when the dividend will be disbursed).

  • Approval of Financial Statements and Reports

    Shareholders hold a significant level of authority and responsibility in ensuring transparency and compliance within the company. One of the key aspects of this responsibility is the approval of financial statements, directors’ reports, and audited accounts.

    The directors’ report complements the financial statements, containing the balance sheet, income statement, and cash flow statement, by presenting an overview of the company’s operations, strategy, and significant events during the reporting period. The audited accounts are prepared by an independent auditor who examines the financial statements and provides an opinion on their accuracy and compliance with accounting standards.

    After that, shareholders are presented with these financial statements, directors’ reports, and audited accounts for review and have the authority to approve or disapprove these documents, keeping in mind transparency and compliance with regulatory requirements. The approval process is done through voting.

    Besides approval of financial statements and reports, the shareholders vote on various resolutions proposed by the company during the annual general meeting, like changes to the company’s constitution, the appointment of auditors, executive compensation, and significant business transactions.

Do You Want to Know More About Annual General Meeting?

Catch up with ContactOne today by calling these numbers: +65 6333 0633 and +65 8666 3633. If you reach out today, we can discuss everything you want to know about AGM in Singapore, including how to plan your annual general meeting agenda better. We look forward to hearing from you.

May 17, 2023

5 Signs That Will Lead to Switching Service Providers

Working with a corporate solutions provider in Singapore has many advantages, including saving time and developing more efficient business operations and processes. And with the right tools and skill set, they have more in store for companies.

Service providers should fully understand a client’s business and anything related to their industry. Yet, no one can take away the fact that businesses evolve; sometimes, it is time to move on when growth can no longer be seen.

The rest of this article will tackle why switching service providers occur in an economy like Singapore, despite many competent and reliable partners for various types of companies. Grab your pen and paper as you embark on a detailed discussion of the truth behind changing corporate solutions firms by several Singaporean businesses.

  1. Recurring Unavailability When You Need Them Most

    One of the primary responsibilities of a service provider is to guide business owners in particular areas of their company to achieve business goals in a fixed timeframe. This means being a call away during work hours is a must.

    Suppose service providers fail to be available for the businesses they are working with. In that case, it will be challenging to implement a positive change. Setting schedules is necessary for the success of the business-service provider relationship.

    Every second counts in the business industry, and wasted time can be a significant loss of money. Switching service providers should address unavailability, especially when it is already taking a toll on the business. A corporate firm’s initial duty is to make things easy for companies. Falling short in providing this may end a partnership.

  2. Steering Your Business the Wrong Way

    An excellent service provider’s goal is to lead your business to success. That is why they must know how to prioritise what needs to get done first to achieve goals effectively. You do not have to seek proactive advice because it is given to you with no questions asked. It might be the best time to find a more reliable service provider when this fall short. They should steer your business in the right direction rather than the other way around.

  3. Having an Insufficient Understanding of Your Business or Industry

    It is essential to understand what your business is getting into, like any other industry. The lack of industry-specific knowledge may lead to more challenges, causing various problems for your company to address. This is the last thing you want to happen because it will take time, effort, and money. Another adversity you can avoid is if you get a well-educated service provider about your niche.

    You can easily tell that a service provider needs to have a sufficient understanding of your business and industry right from the start. Avoid this by asking the right questions to the corporate firm when you can. Believe it or not, the right service provider for your business will come if you know how to sift through many candidates. Given that Singapore is a competent business hub, a suitable business solutions company for your business will be available.

  4. Lacking Approachability and Cost-Efficiency

    While this can be a fleeting problem and easily fixed, some service providers intimidate clients. Those who tend to use jargon in conversations often make clients lose interest because they cannot decipher a thing. A service provider must not be difficult to work with, and the best way around this is by using easy-to-understand works when conversing.

    Moreover, paying too much for business solutions that aren’t yielding results is a red flag. Know that budget matters, and no matter how you put it, money is a contentious subject to tackle. Businesses should get the value of the amount they spend on corporate services. Whether they are paying high fees or not, they should be at the helm.

  5. Falling Behind the Latest Technology and Keep You on Board with Changes

    The business industry is an ever-evolving field. As some processes and transactions become more sophisticated, so as the technologies used to make them more convenient. Business service providers should keep up with the latest upgrade in software that is useful in managing various business operations. This gives them an edge over those still dwelling on manual work.

    Lastly, business owners should be part of every step, whether planning or implementation. They should be on top of everything that is going on in their business. A business provider that singles out company executives to handle their businesses is an apparent reason to work with another firm.

Avoid Switching Service Providers with ContactOne!

Find the right business solutions provider that knows your business needs and requirements. ContactOne is ready to take on this role, fully equipped with a professional and the latest technologies in business management. Our years of experience in the industry taught us many things, and we will use this learning while working with our clients today. Check our website at www.contactone.com.sg, or you may contact us on +65 6333 0633 or +65 8666 3633.

February 28, 2023

Why Make the Move to Cloud Accounting Services Singapore

Let your business work smarter and faster by investing in cloud accounting services Singapore.

There is no perfect time like the present to switch to cloud-based accounting services from using desktop software or spreadsheets. Regarding cloud-based software, companies can get many benefits from on-premise solutions by allowing users to work anywhere, anytime. It also automates the time-consuming manual processes, enhances accuracy in transactions, and hastens financial operations without exerting much effort.

Corporations can even get more benefits depending on the software, including more straightforward prediction of software costs, reduced spending on hardware, less IT overhead, improved disaster recovery, enhanced threat and security monitoring, increased levels of availability, and excelled performance and scalability.

This article’s main feature is to highlight is to answer the question, “Why is cloud accounting beneficial to businesses in Singapore?” It will also take readers into an overview of the cloud and an in-depth discussion of what cloud accounting is all about. Stay tuned and continue reading below!

An Overview of This Thing Called the Cloud

At its core, “the cloud” is the servers that run and are accessible through the internet and the software and databases on those servers. Data centres contain cloud servers, and they are located all over the world. If you think about the cloud, think about internet banking, and you are using the cloud when you access your bank data.

Moreover, the cloud ensures that data and software are easy to access by users online anytime, anywhere, and from any device. It makes the hard drive of your computer or laptop no longer require functioning as the central hub.

What Is Cloud Accounting?

With cloud accounting, any company can keep their business books online. Record of income and expenses, and assets and liabilities are included. Only people with login credentials can access the data, since the information is encrypted.

In case you did not know, a few businesses started using cloud accounting software, also known as online accounting software, as early as the 2000s. At that time, most software only includes quoting, invoicing, and managing bills tools. Many features have been developed to fully harness the potential of the cloud in different business setups, not only accounting.

Through the year, many service providers began to offer cloud accounting services Singapore to assist enterprises in managing their business finances. A corporate firm like ContactOne is a reliable business solutions provider, particularly cloud accounting services, to many companies. For more cloud-related services, get in touch with us today. We will be glad to hear from you!

Cloud Accounting: How It Works?

Users may subscribe to or be provided with an online accounting software solution by a service provider. Once it has been set up, users will transfer their books to the cloud. The information will be accessible to the user’s account when they login to any web browser or smartphone app.

It is worth noting that many users connect cloud-based accounting to their bank accounts. This way, bank transactions flow seamlessly from the bank to the business books, saving time and many data entries.

Benefits of Cloud Accounting Services Singapore Every Enterprise Should Take Advantage Of

No matter what type of business you have or regardless of your business goals, making a move to a cloud accounting software system can help improve efficiency and allocate real-time updates on financial standing. Learn more about the benefits of cloud accounting below.

  1. Less Administration

    Because business owners are accessing the software online with cloud accounting, they can take away the need to attend to software installation, backups, and other administrative tasks.

  2. Automation

    Software in the cloud is always up-to-date. This way, it automatically runs transactions to business books and accounts for the changes in real time. The cloud-based accounting system also automates many accounting and banking processes.

  3. Compliance

    Through the production of accurate financial statement, cloud accounting help various companies with tax compliance, including quarterly tax estimates and yearly tax returns.

  4. Data Security

    Getting businesses on board regarding cloud accounting can be challenging because of potential online risk. But cloud-based services are enhanced with rigid security measures to ensure data safety and other business information.

  5. Scalability

    Scalability is one of the most appealing features of cloud accounting services in Singapore. It can flex and scale to meet your business needs.

  6. Accuracy

    Cloud accounting can improve accuracy in every transaction by eliminating various error-prone steps manually using a spreadsheet.

  7. Customisation

    Because every business is different, cloud-based accounting is ideal as it can be customised according to a company’s needs and accounting requirements.

  8. Reporting and Data Visualisation

    Reporting and data visualisation is real-time, compared to using spreadsheets or paper processes.

  9. Integration

    Cloud accounting solutions can be integrated into other business applications with the same central database, depending on the provider.

  10. Collaboration

    Since financial data are accessible online, cloud accounting makes it easier to collaborate with team members.

Get In Touch with ContactOne Today!

For more reliable cloud accounting services Singapore, do not think twice about getting in touch with ContactOne. Call us on +65 6333 0633 or +65 8666 3633. You also visit our website at www.contactone.com.sg.

January 27, 2023

Switching Service Providers: X Reasons for the Shift

The consistently growing Singaporean landscape is a playground for investors and a paradise for start-ups or established businesses looking into more ways than one to expand their market. This is because of Singapore’s competitive business environment, where one can generate more profit with the right strategy.

Starting a business in Singapore means having world-class infrastructure at arm’s reach. Not only that but also easy taxation policy, corruption-free government, high literacy rate, favourable geographical location, and good weather conditions all in one place.

However, behind all the goods are certain challenges a business may face while building a foundation in the business hub. Although these challenges are sometimes difficult to overcome, corporate service providers are fully equipped to help entrepreneurs make a mark through their businesses. Working hand in hand with a reliable business solutions provider will remove some of the burdens of managing a business.

While, most of the time, the significance of hiring a corporate service provider is always talked about, the possibilities brought by shifting from one provider to another have yet to be tackled. This article will highlight the reasons why some companies are switching services providers. Stay tuned and continue reading below.

Why Businesses Are Switching Service Providers

The benefits of partnering with corporate firms to businesses are non-debatable. They assist growth, promote compliance, and provide a competitive advantage to any company in Singapore. With all these advantages, it indeed becomes questionable when a specific enterprise has to make a leap of faith in changing a corporate firm partner. Here are some of the possible reasons for the big shift.

Price and Value Are Unmatched

Customers always want value for their money.

As a pro-business place, it is without a doubt that corporate firms are going above and beyond to make their way into Singapore. The more business solutions providers, the more options there are for businesses. Even if a company is already working with a service provider, the possibility of changing their minds until they reach the satisfaction is close to reality. When companies see potential corporate firms to work with, switching service providers becomes the first step because they think about their partner and their takeaway from working with them.

Moreover, the chances of businesses switching service providers are increased if they find similar services at a lower and more reasonable price. As soon as everything goes down to this phase, companies look at the new service provider as cost-effective and, if not equal, a better alternative.

Poor or Lacking Customer Service

Excellent customer service goes a long way in providing paths for new customers to engage in corporate services. It can also mean the difference between loyal clients and fair-weather ones. Besides pleasing customers, effective customer service creates a personal relationship with them. This encourages customers to return for business solutions they deem necessary for their businesses.

Preventing customers from switching service providers means setting up a chain of processes that scores as many resources as possible. Side by side with that is to employ the right group of people to decide what goes to customers without waiting for the green light.

Customers Suffer Brand Fatigue

While brand fatigue is more evident in the retail industry, business solutions can also fall victim to this phenomenon. It is not made up; overexposure can harm a service. When there is a surplus of new services competing for market share from many service providers, customers become tired of the brand. They will always find another one to have it replaced. What it means to corporate firms is to not rest on their laurels. They may be enjoying a significant market today, which can change overnight.

Not Understanding Customers Enough

Suppose a service provider does not know why customers avail of their services. In that case, they won’t also see the reason for switching service providers. Customers will always reach out to another corporate firm if their needs are not satisfied. The good thing is that this can be prevented in a couple of ways, and willingness to engage with customers directly is all it takes. Try these barometers of customer sentiment: conduct online and in-house surveys, listen and interact on social media, and always engage with customers.

Switching service providers is a real threat to corporate firms. After all, every company only wants the best for their business. It has to be done, if that means hiring another business solutions’ provider.

Call ContactOne Today for Reliable Business Solutions Services

Get the latest corporate services from ContactOne and bring your business to a different level of success. Visit our website at https://www.contactone.com.sg/ to learn more about us and what we do. You may also call us on +65 6333 0633 or +65 8666 3633.

If you need company incorporation, business formation, corporate secretarial, compliance management, accounting and taxation, payroll management, and corporate administrative services for startups and small to medium enterprises, don’t hesitate to reach out to us.

December 14, 2022

Debunking Common Myths About Corporate Secretarial Services in Singapore

Nothing could stop Singapore from being the best country to start a business in Southeast Asia. Because of that, the country has witnessed an influx of foreign investors getting ahead of each other in benefiting from the business hub’s economic strength. For a good reason, it is also easier to incorporate a business with enticing corporate tax laws.

However, the long list of requirements to fulfil does not end after the business has been incorporated. The truth is, it is just the start of an entirely different set of obligations to carry out. And believe it or not, the appointment of a corporate secretary or secretarial services Singapore is an essential requirement that gets less attention. The Accounting and Corporate Regulatory Authority (ACRA) mandates Singapore-incorporated companies to appoint a corporate secretary within the first six months of official incorporation.

The Role of a Corporate Secretary in Company Incorporation in Singapore

Before we get into an in-depth discussion about the common myths surrounding corporate secretaries in Singapore, let us take a step back and know more about the roles of secretarial service in company incorporation.

Under the Companies Act, the company registration process would not be fulfilled without hiring a certified company secretary. According to the law, a newly incorporated company in Singapore should hire a qualified secretary within six months from the date of incorporation. Otherwise, legal proceedings and penalties will be charged.

A corporate secretary’s job revolves around fiduciary functions of an organisation. To be accepted as a corporate secretary in Singapore, an individual must be a resident in the city-state, a natural citizen, or permanent resident (PR).

4 Misconceptions of Corporate Secretaries in Singapore

ACRA’s stringent requirements for the appointment of a corporate secretary may come off as strange for foreign business owners. Some of them may ask the same question: What is so special about a corporate secretary that its appointment must be mandated by law? To better under this, this article will debunk the common misconceptions of secretarial services Singapore. Continue reading below!

Myth 1: A Corporate Secretary’s Job Is Only as Good as of a Personal Assistant

Many assume that a corporate secretary only carries out administrative roles unless they understand the job better. And, believe it or not, some people see a secretary as a personal assistant with an office in the company business location.

Even if a corporate secretary’s duties involve coordinating and planning company meetings, sending notices, and taking minutes, it goes beyond these. As a corporate officer, a secretary bridges the gap between the company and ACRA by acting as a compliance officer.

Understanding corporate laws and different company policies is part of a corporate secretary’s statutory duties. They also advise executives about their responsibilities under the law. With all these responsibilities, anyone can say a secretary is more than just a PA.

Myth 2: Anyone Can Replace a Corporate Secretary’s Role

Replacing a corporate secretary’s role requires much more than just performing administrative duties. It also includes a basic understanding of accounting and more. Corporate secretaries in Singapore must fully understand corporate laws. They are required to have academic and professional qualifications to match. Being a corporate secretary is not for everyone. It takes the right skill set and knowledge to ace the job.

Myth 3: Corporate Secretaries Are Only Needed to Start a Company

The third myth is easy to understand how it has come this far. Every Singapore-starting company must hire a corporate secretary to fulfil its incorporation. However, having a secretary at every company’s helm goes beyond ACRA’s requirements. A corporate secretary plays a vital role in overseeing schedules and keeping the company on the right side of corporate laws, which are ever-changing.

That said, corporate secretaries and secretarial services in Singapore are crucial parts of a company, whether during incorporation or not.

Myth 4: Every Singapore-Incorporated Company Needs a Full-Time Secretary

It is indisputable that corporate secretaries are essential to business continuity. However, not all companies can afford to include them in the payroll unless they are large companies with enough resources. For a small business, it is practical to outsource secretarial services in Singapore instead of keeping an in-house officer. Outsourcing can still retain the function of a corporate secretary.

Know More Corporate Solutions from ContactOne

A company secretary does not have to hold a law degree to be an efficient officer. But they have to be tech-savvy and must be knowledgeable of the latest software that eases their job responsibilities. Companies can hire externally, but if they opt to outsource secretarial services in Singapore, ContactOne covers them.

At ContactOne we have an array of corporate solutions, including secretarial services. Our professional team will work hand in hand with you to achieve your goals in managing and growing businesses. Get in touch with us today and learn your options. Call us on +65 6333 0633 or +65 8666 3633, or visit our website at www.contactone.com.sg.