How can F&B businesses adapt for growth, given changes in consumer behaviour?
This article was originally published on UOB Business Banking Insights by UOB on 27 April 2021. Key Takeaways - Online food delivery is a trend that’s here to stay in Singapore. F&B businesses need to adapt fast in order to capture this market
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How to navigate your funding options as a young SME dealing with the impact of COVID-19
This article was originally published on UOB Business Banking Insights by UOB on 26 March 2020. Key Takeaways Alternative funding options are quick and easy to apply for, but SMEs need to evaluate these carefully depending on their requirements and objectives More
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Entering new markets for SMEs via B2B e-commerce platform
This article was originally published on UOB Business Banking Insights by UOB on 25 Jan 2021. Key Takeaways Operating on B2B platforms can help open up new markets for SMEs and enable them to access new sources of suppliers and vendors These
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Top 10 Most Common Procurement Mistakes
Whether you are running the procurement department in a company, operating a business or managing properties and facilities, your ability to successfully source quality goods and services reflects the effectiveness of your procurement system.
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Essential KPIs, every facility and property manager should know…
Property management KPIs help facility and property managers keep their business objectives at the centre of their daily activities as well as provide knowledge into the performances within each role and function. They not only help your property management agency stay competitive and at the top of their game, but they also help:-
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16 Reasons why investing in eprocurement is necessary post pandemic
Procurement is the business to business (B2B) strategic process of sourcing, negotiation of contracts, and acquiring of goods, raw materials, services or work from external sources. An effective procurement strategy typically comprises of a 7-9 stage strategic process to maximise an organisation’s profitability. When done right, an effective procurement strategy essentially helps the company.
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Why the relationship between Managing Agents, Facility Management Companies and MCSTs must be protected (CoVid Special)
The renegotiation of contracts between MCSTs, MAs and other counterparts will inadvertently restrain the MAs ability to operate efficiently while maintaining quality, leading to a degeneration of the overall quality of services rendered, and along with it, possibly affecting the entire real estate marketplace as a whole. Such attempts to reduce overall outgoings by renegotiating service contracts are gradually putting a strain between MCSTs, building owners, MAs, FMCs and vendors. The once amicable and harmonious relationship shared between real estate professionals has, unfortunately, shifted. Inferring an unspoken rift between property professionals, as everyone bargain on ways to scrimp on every dollar and cent possible.
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The difference between Purchasing and Procurement Processes
Understanding the procurement process helps all stakeholders be aware of the many moving parts involved in the overall process
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Real Estate Glossary - 1209 Property Terms and Definition – 2020 Edition
The real estate is prevalent in every inch of this globe. In it, contains an extensive amount of terms and its definitions. Yet, it isn’t often universal. For example, “settlement” in one market could be known as “closing” or even “escrow” in another. And so we have put together some commonly used industry terms within the real estate sector – a little pocketbook glossary for the property world.
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17 Tips to help Vendors Adapt and Evolve their services beyond Covid-19
The shift into Phase 2 of the Circuit Breaker lockdown in Singapore brings with it a glimmer of hope. Since the circuit breaker in Singapore, managing business has posed its challenges for organisations globally. With a forced down-time due to the circuit breaker, enterprises have experienced a dwindling amount of customers and clients. It isn’t surprising that many businesses find it challenging to plan for the foreseeable months ahead. As we enter into Phase 2 of our Circuit Breaker, there is still no telling when this Pandemic will end and how it may affect businesses, which is why it is crucial to crisis-proof your business as much as possible.
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26 Support Schemes in Singapore for Businesses- SMEs & SEPs Edition
“The more stringent the measures we put in place to keep the number of cases down, the bigger the impact on our economy. In the immediate term, this is a trade-off between protecting lives and protecting the economy that we must all accept — not just in Singapore, but around the world.”
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17 Work From Home (WFH) Tips For Productivity- Real Estate Edition
Work from home; a once idealised working style that quickly got nations worldwide re-thinking its desirability, especially since circuit breaker mode happened in Singapore.
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BCA Advisory Updates 22 qns answered
Singapore’s >coronavirus cases have crossed the 10,000 mark on 22 April 2020.
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Coronavirus Sg? Fret not, Covid-proof your Workplace today | SGUnite
On the 7th of March, the number of coronavirus infection cases surpassed 100,000 cases, as reported by the World Health Organisation. The recent outbreak of COVID-19 has been making prime headlines on a global scale. It has killed more than 3,000 and infected more than 93,000 people, mostly in mainland China. It has spread to more than 25 countries worldwide, including Singapore. Neighbouring countries such as Japan, Thailand, South Korea, Malaysia and Vietnam have also seen an increase in the number of cases. As of the 9th of March, there were 57 active cases, with 93 having recovered fully and discharged
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10 Procurement Tips to Sharpen Your Contract Negotiation Process
Contract negotiation is important in the world of business. The art of negotiation has been a long time subject in many self-help books. Negotiating is all around us; from our daily lives to important business deals. The number one rule in contract negotiation strategies is to ensure a win-win situation. Having a contract that benefits both parties will increase the chances of a settlement. In the context of real estate procurement, a win-win situation for PMs would typically mean affordable price for quality services or products, and an adequate profit margin to achieve economies of scale for vendors.
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Property Trends Penetrating the Real Estate Industry- 2020 Edition
The age of digitalisation can feel like a crashing wave, with new innovations within the real estate technology scene emerging at every corner, disruption seems imminent. Many multi-billion dollar industries have learned to roll with the punches and embraced the ever-changing landscape by adapting and embracing fast-growing real estate technology. The real estate industry, in particular, is fueling the proliferation of smart technology – shaping and creating inevitable real estate trends that are necessary for building a more sustainable future.
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How 5G Technology is Shaping the Future for Real Estate
5G Singapore vs 4G- What It Means For Businesses
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7 Reasons Why Singapore Startups Thrive and attract Global Awareness
Singapore- The perfect spot for aspiring startups
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Why the Future of Procurement is in Artificial Intelligence & Blockchain
We live in a world where new discoveries and inventions are taking place every day. It can often feel like your organisation is walking up a descending escalator, and it doesn’t make it easier when your competitors are too. To be competitive in the real estate scene, organisations must adopt tools with newer technology and trends for that extra competitive edge. The procurement scene within the Real Estate industry, for example, is one such segment where it is still saturated with traditional processes that aren’t coherent with the age of digitalisation.
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Why Real Estate Organisations need to take Procurement Digital in 2020
In today’s procurement landscape, bottlenecks involving tenders and change requests still exist. The traditional procurement process, currently abided by most of the present-day firms, is time-consuming and causes easily-avoidable errors.
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