SINGAPORE — Small and Medium Enterprises (SMEs) typically lag their multinational counterparts in technology adoption, as they have fewer resources and less access to capital. But help is on the way.
The Singapore Chinese Chamber of Commerce and Industry’s SME Information and Resource Centre (SIRC@SCCCI) has teamed up with Kingdee International Software to set up a training programme for SMEs.
Up to two training programmes will be held every month at the SIRC@SCCCI at 47 Hill Street and some 500 SMEs are expected to benefit from this collaboration.
“Kingdee provides the software and trainers, while SIRC@SCCCI pro- vides the premises for training, and they are also assisting with reaching out to their SME members,” said Ms Emerlin Toh, Kingdee’s general manager and director of Singapore.
The training programme will be based on Kingdee’s new business management software, which is aimed at improving the management of information, such as cash flow and logistics. The software also has multi-language and multi-currency functions, making it useful for SMEs who are looking at expanding their business operations in the region.
“Different countries have dif- ferent accounting requirements and it is imperative for our local
(From left) Mr daniel Lim, Mr stephen Lim, Ms Karen Ji and Ms Emerlin toh at the signing ceremony to mark the collaboration between Kingdee and sIrC@sCCCI. KIngdEE IntErnatIonaL soFtwarE group
SMEs who wish to expand overseas to have a good understanding of the local accounting and taxation sys- tems, and arm themselves with the right technology and reliable proc- esses,” said Mr Daniel Lim, centre director of SIRC@SCCCI.
According to SCCCI, China is one of the top destinations for SMEs considering overseas expansion. It is little wonder then that they seek accounting and taxation support from Kingdee, a Chinese enterprise application software vendor head- quartered in Shenzhen. Kingdee also has an R&D centre in Singa- pore, its first outside China.
“The objective of the training programme is to educate the SMEs on the benefits of employing ac- counting platforms that allow them to compete in the global market, especially China, which has a unique taxation system,” said Ms Toh.
Based on a report by UK Trade and Investment, the main problems with accounting and taxation in China include the lack of consultation on tax changes, the unpredictability and frequency of changes to Value Added Tax (VAT) rebates for exports and business taxes on services.
Having a more sophisticated accounting system will allow SMEs to better track and manage their invoicing and cash flow. More im- portantly, this gives SMEs greater flexibility and agility to operate in uncertain foreign environments. In addition to providing accounting and IT training, the SCCCI also offers translation and business matching services to local SMEs, giving them a leg up as they expand overseas.
– TODAY, 18 August 2011, page 48.
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