FAQs
All Your Professional Services Queries
Business Process Outsourcing
1. What is Business Process Outsourcing (BPO)?
Business process outsourcing is the practice of contracting a third-party service provider to handle specific business functions or processes. At Agilience Asia, our BPO services encompass accounting & bookkeeping, payroll, corporate taxation, GST & withholding tax, and others!
2. Why do I need to outsource my business functions?
A common inhibitor to business growth faced by owners and entrepreneurs is the lack of resources or capacity to enhance processes, coupled with insufficient operational insights for informed decision-making, often resulting in ambiguity regarding the profitability of individual projects or services and delays in receiving timely financial reports. Here’s why you should outsource your accounting & bookkeping functions:
a. Cost-Effectiveness: Outsourcing can often be more cost-effective than hiring and maintaining an in-house accounting team. It allows you to pay for the services you need, when you need them, without the overhead costs associated with permanent staff.
b. Expertise and Efficiency: Professional accounting and bookkeeping services bring a high level of expertise and efficiency to your financial processes. Outsourcing to a specialised team ensures that your financial records are accurately managed and compliant with regulations.
c. Focus on Core Business Activities: By outsourcing these functions, you can free up valuable time and resources to focus on core business activities, such as growing the company, building customer relationships, and developing new products or services.
d. Access to Advanced Technology and Resources: Outsourced accounting firms often have access to advanced accounting software (like Agilience Asia does!) and resources that may not be feasible for smaller businesses to invest in on their own.
e. Scalability: Outsourced services can easily adapt to the changing needs of your business, whether it is seasonal fluctuations or periods of rapid growth, without the complexities of hiring and training additional staff.
Outsourcing your accounting and bookkeeping functions can provide peace of mind. You can entrust these critical tasks to proven professionals, allowing you to concentrate on driving the success of your business.
3. What industries do you cater to?
We extend our services to a wide range of industries, including but not limited to healthcare, e-commerce, technology, finance, telecommunications, oil & gas, and more. Our team is trained to adapt to specific industry requirements and regulations.
4. How do I get started with Agilience Asia's BPO services?
It’s simple! Simply reach out to us through our website, phone, or email, and our representatives will guide you through the process. We will assess your business needs, provide a customised solution, and develop an implementation plan tailored to your requirements!
Special Projects
1. What are common challenges organisations may face during Finance Process Redesign?
2. How long does it typically take to complete a Finance Process Redesign project?
The timeline for completing a Finance Process Redesign project can vary depending on the scope and complexity of the processes being redesigned. It may range from a few months to a year, including planning, implementation, and evaluation phases.
3. What are the common signs that a business needs a Bookkeeping Tidy Up?
4. What kind of Disruptive Events Support does Agilience Asia offer?
Our Disruptive Events Support services are designed to help businesses navigate unexpected challenges such as business changes, regulatory requirements or changes, and high staff turnover. We provide operational continuity solutions and support tailored to your specific needs.
Corporate Secretarial
1. Do all companies need a Company Secretary?
Under Singapore’s Company Law, it is mandatory for each company to designate a Company Secretary, with the stipulation that the position cannot remain vacant for over six months. The role of the Company Secretary is to ensure the company’s adherence to pertinent legislation and regulations. You may also become your own Company Secretary, provided that you are a local Singapore resident and not the sole director of the company. However, undertaking this role requires proficiency in statutory obligations, including the preparation of necessary various documentation such as the annual return to ACRA.
2. What are the specific legal and compliance responsibilities of a Company Secretary?
A Company Secretary is responsible for ensuring compliance with statutory requirements, maintaining accurate corporate records, filing necessary documents with regulatory authorities, and advising the board of directors on governance matters, among other crucial legal and compliance responsibilities.
3. What risks do companies face without a Company Secretary?
- Non-Compliance Penalties: Failure to meet statutory requirements can result in substantial fines and legal consequences.
- Operational Disruptions: Inadequate record-keeping and delayed filings can disrupt operations and damage the company’s credibility.
- Governance Issues: The lack of expert guidance on governance matters may lead to poor decision-making and practices, potentially harming the company’s reputation and long-term success.
4. How do I get started with Agilience Asia's Company Secretary services?
Getting started with Agilience Asia’s company secretary services is straightforward! Contact us through our website, phone, or email, to initiate the process. Our representative will guide you through the initial steps and assess your business requirements to provide a customised solution tailored to your needs.
Once approved, notify your current service provider about the change to ensure a hassle-free transition. In addition to our seamless secretarial services, you can also enjoy the benefit of a registered address for your company!
Deal Advisory
1. What are Deal Advisory services?
Deal Advisory services encompass a comprehensive range of strategic and financial support designed to assist businesses throughout the lifecycle of transactions. This includes evaluating, structuring, negotiating, and executing mergers, acquisitions, divestitures, joint ventures, and other significant business transactions.
2. How can Deal Advisory services benefit my business?
Deal Advisory services provide essential support by helping your business identify and evaluate potential opportunities, navigate complex transactions, and maximise value. We also work to minimise risks and business disruptions and ensure that transactions align with your strategic objectives, ultimately contributing to your long-term success.
3. How can your team assist in identifying potential M&A targets, strategic partners, or buyers?
At Agilience Asia, our experienced team draws on extensive network connections, industry expertise, and thorough market research to identify potential M&A targets, strategic partners, or buyers that align with your strategic objectives and criteria. This comprehensive approach ensures that we find opportunities that best support your business goals.