Admin time can cost billions

WHAT could your business achieve with an extra 168 working days a year?

That's how much time is currently spent on admin, causing Singapore businesses to lose a staggering S$8.7 billion worth of productive business time annually. As at end-January 2018, the cost of lost productivity already stands at S$707 million.

Although the Singapore economy is on the uptick, business builders have had to grapple with a wide range of challenges, including late payments and cashflow issues. Dealing with admin issues keeps organisations from focusing on their core business, and from tasks like talent development and innovation that are crucial to keeping up with the competition.