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Advisory- Information Technology (IT) Strategy 

The success of modern-day businesses relies increasingly on its ability to incorporate Information Technology (IT) into its business processes and improve their core competency. IT strategies focus on how IT can help the organisation further its business goals and improve the efficacy of business processes. IT strategies should also be aligned with the company’s vision and mission, so that the outcomes support the growth of the company. 

What We Can Do For You 

IT Governance

  • Align IT strategy with Business strategy
  • Risk & Compliance
  • Using IT to drive progress

 

Procurement Strategy

  • Internal Needs Analysis
  • Developing & Implementing Sourcing Strategies
  • Supplier Negotiations
  • Transition Planning

Strategic Technology Investment Management

  • Resource allocation and investment 
  • Technological solutions for managing projects 
  • Technological Prioritisation

Staff Training

Proper training has to be provided to employees whenever a new IT software is rolled out

Regulatory compliance

Cybersecurity and privacy are a huge concern to many. Regulatory and data protection laws have been put in place to protect the privacy of employees and clients. Therefore, companies must create good policies to prevent data breaches.

To know more about data protection in Singapore, click here.

Core IT Operations

Strengthening a company’s core IT operations against cyber threats is a top priority. Firms should develop effective risk-management structures to identify, assess, monitor and manage operational risks.

 

(Information adapted from ISACA)

Evolving Digital Technology and Automation

An increasing number of businesses are investing in advanced technologies. Although this reaps benefits for the company when it comes to efficacy and accuracy, however, this comes with higher risks of data breaches and system failures. 

Get Started Today

Take control of your corporate finance reporting.

Get in touch with us to learn more

Make An Appointment

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Business Process Audit 

The Significance of a Business Process Audit

A business process audit examines the company’s business processes to figure out what works well and what needs improving, taking into account the strategic objectives and goals of the company. 

Businesses today face a highly competitive environment. To stay relevant and competitive, companies must constantly improve their processes. A business audit also helps to lower costs, gain higher revenues, improve employee engagement and customer satisfaction. 

Objectives

  • Eliminate inconsistencies and strengthen operation capabilities
  • Continuous improvement process
  • Discover new ways to improve business practices 
  • Provide greater transparency across all levels of management 
  • Complementing manpower through automation 

 

Why you should choose Forbis 

Our professionals at Forbis have at least 10 years of experience in business process audit and project management. We are able to provide holistic audits that include finance and process efficiency. Risk analysis will be done before embarking onto new projects. 

We work closely with partners who are certified Project Management Professionals (PMP) and Practicing Management Consultant (PMC).

Enterprise Development Grant (EDG)

The EDG supports Singapore companies in their growth and transformation. EDG mainly supports projects that help companies to upgrade their businesses, innovate, expand/venture into other countries, under three pillars, namely Core Capabilities, Innovation and Productivity as well as Market Access.

EDG funds qualifying project costs (e.g. third party consultancy fees, software and equipment, and internal manpower) for organizations. 

EDG helps companies to strengthen their HR capabilities by providing support levels of up to 80% for SMEs, up to 60% of qualified costs for non-SMEs from 1st April 2020 to 31st December 2020. However, EDG does not cover costs incurred from standalone training courses, incentives, benefits and welfare subsidies for employees.

EDG provides resources such as HR Diagnostic Tool, HR Portal, Talent Attraction and Development Initiatives, as well as HR Industry Manpower Plan, which helps to further engage employees.  

For more information, read more here. 

Get Started Today

Take control of your corporate finance reporting.

Get in touch with us to learn more

Make An Appointment

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]]> Business Strategy https://forbisaccounting.com/project/business-strategy/ Thu, 17 Sep 2020 04:07:18 +0000 https://forbisaccounting.com/?post_type=project&p=6896 The post Business Strategy appeared first on ForBis Accounting.

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Advisory- Business Strategy 

A business strategy is a formal set of competitive moves and actions that helps your company reach its business goals. Strengthening company performance, increasing customer base and securing a competitive position in the market is just the tip of the iceberg when it comes to business strategies. 

Business strategies outline how a business should be carried out to reach its goals. However, when market conditions take an unanticipated turn, it calls for the company to come up with strategies to cope with the situation.

The Importance of Good Business Strategies

Planning

A good business plan helps you identify the key steps you will take to reach your business goals.

New Business models

Identifying new streams of revenue, redefining productivity in the organisation, reconceiving products and markets, enabling local cluster development.

Efficiency

A business strategy allows you to effectively allocate resources for your business activities, which automatically makes you more efficient.

Operational Controls

It gives you more control over the activities you’re performing to reach your organizational goals, as you understand the path you’re taking and can easily assess whether your activities are getting you close to your goals.

Strengths and weaknesses

The process of creating a business strategy allows you to identify and evaluate your company’s strengths and weaknesses, creating a strategy that will capitalize on your strengths and overcome or eliminate your weaknesses.

Competitive advantage

By identifying a clear plan for how you will reach your goals, you can focus on capitalizing on your strengths, using them as a competitive advantage that makes your company unique

(Information Adapted from Indeed)

What We Can Do For You 

With ForBis Accounting’s wealth of experience in developing holistic business plans, your company will be geared towards maximising short-term and long-term profitability, ensuring steady growth for the business. 

ForBis Professionals are Trained to Produce:

Sustainability reports and Planning

This includes corporate social responsibility, ecological and business sustainability.

Market Entry Planning

Entering a new market can be tricky and filled with uncertainties, our Professionals at ForBis are qualified to analyse risks and make your market entry a smooth one.

Investment Projection and Decision Making

Calculating risks and returns for upcoming projects is crucial to make sure that the money allocated has the lowest opportunity cost. 

Succession Planning

Identifying and developing a new set of leaders to spearhead the company and building a structure to promote current talents.

Corporate Restructuring

Reorganising the legal, ownership, operational or other structures of the company to make it more profitable or better organised for its present needs.

Business Process Optimisation

Increasing organizational efficiency by improving business processes.

Get Started Today

Take control of your corporate finance reporting.

Get in touch with us to learn more

Make An Appointment

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