Is Your Back Covered? Key Functions All SMEs Should Have

Here is a scenario you might be familiar with if you are a small-and-medium-sized enterprise (SME) owner. Each month, you receive a stack of invoices from various vendors such as your part-time administrative assistant, boutique accounting firm, customer relationship management consultant, and maybe even a freelance business intelligence analyst.

Collectively, they offer services that make up the all-important back office ecosystem of your SME, without which you cannot operate. In fact, so vital are their functions that without them, your great idea that spurred you to start your business would never be executable.

Your business development manager will never be paid, your sales team will not have a clue about how your customers feel, and you might just be convicted of tax fraud. Even worse, you might be required to sort this out yourself, requiring you to spend valuable time on back office issues that detract from what you should be focused on – your customers and developing sales pipeline.

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If you have been operating your SME for some time, it’s good to revisit these key functions again, to ensure that you have them all covered.

  • Administrative Support: Who’s running your administrative functions, including human resource and day-to-day support for the office? Do you have a proper framework in place for policies and procedures, including an employee handbook?
  • Corporate Services: Have you filed your Annual Return and related regulatory complaince filings on a timely basis?
  • Finance and Accounting: Are your acocuntants providing you with adequate financial information, including business intelligence, within your expected timeframes?
  • Payroll: Are your employees being paid on-time and given payslips and related documentation as required by law?
  • Tax: Are your tax filings current and up to date? Is your company efficiently structured from a tax perspective?
  • Customer Relationship Management (CRM): Do you have a CRM and is it being properly used by employees sales personnel?
  • Business Intelligence: Is your financial and operational data and KPIs available on a real-time basis?

Being an SME, where keeping expenses low is always a primary concern, these functions are usually outsourced to different vendors, who charge on an hourly or on-demand basis.  In most cases, these services providers appear to be ‘cheap’, but in reality they tend to gouge their customers and often end up costing much more than expected.

This also means you have to deal with different people, with different working styles and different work habits, which, let’s face it, can be a challenge you can do without.

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However, what if all these functions could be consolidated into one single fully customisable platform for just one person to oversee? What if you could reduce the cost of your back office by up to 50% or more?

This is the value proposition offered by PikoHANA.

With a flat monthly fee (so you will only receive one invoice), you can manage your back office and all the functions mentioned above through its proprietary Platform as a Service (PaaS). It deploys the best-of-breed cloud technologies based on your needs, fully integrated with PikoHANA’s proprietary business intelligence platform, AO.

In addition to processing all transactions, it also ensures you have access to KPIs and operational data in real-time, at any time, allowing you to make informed decisions when running your business. The best part is the amount payable in that invoice is not going to turn your expenses on its head.

PikoHANA will not work with you unless it believes it can improve productivity and materially reduce the cost of your back office. In Singapore, the fees also qualify to be reimbursed by the Productivity and Innovation Credit Scheme (PIC).

We get it and we get it done!

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