Startup ecosystem in Singapore
Singapore has emerged as the global hot spot for entrepreneurship. In the last eight years, it has climbed to take the #12 position among leading global startup ecosystems in the world. The country has positioned itself as an attractive startup location for global talent. All thanks to the nation’s open-door policy for businesses.
The Government has rolled out several initiatives to propel the nation towards a thriving startup ecosystem. Some of these initiatives are – Startup SG, AITD scheme, FSTI scheme and so on.
The intrinsic challenges
Despite the positive external environment, startups have to deal with several internal challenges:
- Lack of structure– Often, startups lack a well-defined structure and process. This poor framework often leads to operational mismanagement.
- Attrition and retention – An unstructured process often leads to employee dissatisfaction and task overburdening. Consequently, startups face a high attrition rate, and they have to go through the retention process time and again.
- Limited resources– Since startups do not have the luxury of hiring multiple employees for the same task, they are hugely dependent on every employee. For instance, if an XYZ professional is on leave for a day, enterprises do not have substitutes for the same task.
- Cost constraint– Startups have cost constraints and therefore cannot afford to shell out considerable sums of money on operations, resources, and so on.
The right solution
What if I told you there was a simple way of making these things right? You can use technology as a force multiplier to build new business models, strengthen your internal process, and enhance your customer experience. Afterall, the key ingredients of a successful business are People, Process and Technology. You can minimize the negative consequences that the problems mentioned earlier can have on your business by streamlining your operations with the right tech tools. Technology can help you devote your time and resources to more value-adding activities.
Startups are agile and can change processes and disrupt the industry. This flexibility is an advantage to them as compared to large organizations. Startups can easily let technology take the lead. The same is not true for established large companies.
Organizations like Grab, Lazada, Ninja Logistics, Deskera, and many more have tasted success in their respective markets. Their success makes for a strong case to evaluate the use of technology intrinsic to one’s business operations to reach important milestones.
Thus, if you care for your talent pool, you must ensure that they have a conducive environment to work. By adopting the necessary technological tools, you can develop a robust process.
Deskera Integrated suite for startups
Deskera is one of the few companies providing an integrated ERP software suite to help startups manage their people and processes smoothly. The cloud-based software comprises of ERP, CRM, MRP, PM and HRMS modules. All these applications are imperative for every startup to manage its day-to-day business activities. You can access these apps from any internet-enabled device. Deskera software helps to automate everyday business tasks such as payroll processing, workforce management, stock management, sales & marketing and more.
Deskera HRMS – It is a comprehensive and intuitive tool facilitating the management of HR responsibilities. The software is specially designed to empower the HR department and improve their competence. With a powerful core database and extensive features list, the tool automates the payroll process. Quick preparation of payroll and better time management helps businesses to enhance their productivity. You can gain the maximum ROI on your human capital by tracking productivity for each employee with designated goals and KPIs.
Deskera ERP– It provides features such as purchase, sales and billing, financial reporting, item master, stock, and much more. With its flexible and customizable product suite, the software facilitates any type of business transaction. Additionally, it manages your vendor and customer related processes with ease. By providing a centralized and continually updated database, it gives accurate and real-time information. It is worth mentioning here that the Singapore IRAS Board approves Deskera ERP.
Deskera CRM – The software helps businesses to automate critical sales processes and track opportunities at every stage. You can smoothly implement customer-centric strategies and ensure effective sales management with leads, opportunity, support, and more. The system also provides a complete view of the customer data to stakeholders, consequently sharing deeper insights into customer metrics. Adopting Deskera CRM gives you a competitive edge and helps you maximize your business profitability.
Deskera PM – It allows real-time project collaboration. You can consolidate your project and converse with your team members from anywhere and anytime you want. At the same time, your team can plan, schedule and deliver projects through mobile collaboration. Deskera PM increases your project delivery success rate and increases customer satisfaction. Thus, the next time your employee is on vacation, your work need not suffer anymore.
Deskera MRP – It helps you gain real-time visibility into every stage of the manufacturing process. With Deskera MRP, you can keep track of the machinery as well as labor activities. The tool also allows you to observe past trends, automate mass forward and backward scheduling and ensures accurate production.
By adopting these latest tech tools, you can streamline your daily operations and devote your time and resources to more strategic activities rather than mundane administrative procedures.