Accounting Software For Retail Business Singapore
The retail industry in Singapore is a diverse range of businesses that sell consumer goods or services to customers through multiple channels of distribution to earn a profit. Some of them operate from brick and mortar mini marts chain, shopping retail stores, convenience stores chain and many of us also evolve to online stores due to the changing in consumer preference.
Why do you need an accounting software for your retail business?
In order to stay relevant in the retail business the government encourage merchants to innovate, upgrade their capabilities and adapt to new technologies. By adopting an accounting software for retail business in Singapore is a kick start of your transformation journey to automation, increase your productivity and efficiency.
What are the benefits of Accounting Software for Retail Business?
The function of an Accounting Software for Retail Business must be more robust to handle your accounts, book keeping, inventory, CRM, payroll and Human resource management with all this tools in your business process you are able to
- Operate your business at a lower cost with more accurate forecast
- Analyze sales performance of best-selling products and most profitable items
- Full control of your inventory to eliminate wastage and losses
- Computerized your finance functions reducing double entry and data entry errors
- More accurate and efficient in your invoicing and billing
In general entry level accounting software is below $5000
The retail business accounting software is actually a mini ERP which cost in between the range of $20000 to $40000
For a full ERP system, it will cost you about $150 K to $300K
In order to encourage companies to go digital and adopt new technology, the Singapore Government has launched various grant for example PIC, the iSPRINT which are no longer available. The latest grant is from IMDA which is called the CDG where the grants will provide you a discount in between 50% to 70% depends on the retail business accounting software package that you sign up. Please fill up the enquiry forms or seek assistance form our professional consultant to give you a free information on the details
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