Singapore’s Entrepot Trade Industry: Sailing through Obstacles with HR Solutions

Singapore’s entrepot trade industry till now has been a front liner in the country’s economy linking the country with global supply chains. Nevertheless, this specific industry finds its uniqueness that other industries don’t have. Primarily, it is the complication of international logistics which involves coordinated efforts and proper timing. Furthermore, the need to fulfill a multitude of international export and import rules which are not only region-wise different but also subject to change is another headache. In addition, because of the delicate nature of goods and dealings, the entrepot trade industry has to be on top of their security and data protection game. Moreover, as is the case with many other industries in Singapore, between trading firms also wrestling with human resources management and hiring staff, which is a product of the tight labor market in the city-state, and a continuous need for the adaptation of technology to remain competitive.

The Role of HCM Systems in Addressing Industry Challenges

Human Capital Management (HCM) systems are interveners and become core solutions to these multifaceted challenges faced by the entrepot trade industry. Because they move fast enough to recruit workers and keep them in the midst of intense competition, HCM systems are indispensable to the firms by their central effort in optimally managing workforce ingredients. In fact, HCM systems help in the observation of laws and regulations by equipping the organizations with powerful data management tools which are fundamental to complying with trade regulations. Besides tackling product-related issues, the adoption of a full HR system allows businesses to catch up with rules and regulations comfortably.

It goes without saying that the HRMS software will be strategically implemented to save op. costs and provide security and data protection. Besides that, thanks to the function of intelligent roster planning, the firms within the entrepot trade sector can take advantage of better workforce allocation achieving the needs of both industry and workers. HCM systems are provided on a single platform, thereby making operations unite while at the same time increasing accuracy in payroll chores, taxes like CPF and the administration of long service payment arrangements.

Guidelines for Successful HCM Implementation

In the case of the intrepreneur of HCM implementation in the entrepot trade sector in Singapore, certain strategies are greatly needed. First of all, the integration of the HCM system with the current processes will guarantee that there is no discontinuity and harmony in the operations. Also, the system should be customized as per the firm’s specific requirements to make sure it effectively addresses certain operational needs. Training is another crucial element —equipping the staff with a clear understanding of the system’s capabilities will help the employees work efficiently. Finally, engaging the shareholders from the start will align the objectives and support process changes.

Key Features of Multiable aiM18 System: Tailored Solutions for Entrepot Industry

• Rule-based Workflow Engine: Customization to adapt work processes to specific industry needs.

• Intelligent Roster Planning: Optimized rostering to better manage workforce allocation and scheduling.

• ISO:27001 Certification: Robust data security ensures protection of sensitive trade data.

• Customizable Payroll Formula: Payroll efficiency reduces errors in complex wage calculations, enhancing CPF management.

• Appraisal Forms: Flexible performance appraisal mechanisms tailored to departmental requirements.

Multiable HCM‘s Endorsement in Singapore

In Singapore, Multiable HCM has gained quite an endorsement from IRAS, opting for the Auto-Inclusion Scheme (AIS) for Employment Income. This validation represents its compliance competences, needed in proper documenting and regulatory adherence by the entrepot trade entities. It is a high-ranking software, showcasing its robust data management and security compliance.

What is Multiable HCM?

Multiable HCM is a cloud-native HCM (aka HRMS, HRIS or HR system). With over 6,000 customers, Multiable HCM gains positive feedbacks from customer across different sectors, from manufacturers, distributors, retailers, service providers to NGOs. The renowned no-code approach saves customer a big sum of customization costs and countless hours of implementation man-days.

What is LAIDFU (Let AI Do for You)?

LAIDFU is an AI tool for enterprise to build their own AI agents to perform various business AI tasks.

Proprietary EKP (Enterprise Knowledge Partitioning) technology eases CEO’s concern about trade secret leakage which often occurs in most AI agents / chatbots in the market.

EKP removes the hurdle of business AI adoption by most companies in using sensitive corporate data.

Powered by no-code approach, deployment of LAIDFU incurs far less developers (and development costs) in comparison with other AI tools.

LAIDFU empowers business, with or without an HCM system in place.