Success Story

Great Support During Covid 19

In 2018, he engaged us for basic compliance services, including corporate tax and annual return filing for his Singapore-based company.

However, with the outbreak of Covid-19, Peter and his team were unable to travel to Singapore, leading to a significant impact on their business.To mitigate the situation, the key management team decided to return to Germany and outsource most of their management services to us.

We were tasked with managing almost all their finance function, including accounting, payroll, payment management, tax compliance, annual return filing, and providing a reliable local director to support them.

Thanks to our support, the company was able to significantly cut down on operating costs, improve operational efficiency and achieve a sustainable operation.

Even though Peter was unable to travel back to Singapore for three years, his business ran smoothly, allowing him to operate remotely from Berlin and spend more time with his family.

Peter was delighted with our services, praising us for our reasonable fees and for helping him save on the cost of a full-time staff. He strongly recommended our services, highlighting the significant impact we had on his business during a challenging time.

Success Story

Accounts Were Not Filed and Company Received Court Order

Finding reliable staff in Singapore has become increasingly difficult over the past two years due to a shortage in the labor market, resulting in a significant increase in salary costs. As a result, many businesses have had to deal with increased fees and longer response times from service providers in Singapore.

Sharnmaine Doroin had been running her Singapore-based company for a few years, but as she was not staying in the country, the business's operation had become minimal, with a 50% drop in volume compared to previous years.

Despite wanting full support from an accounting firm to have peace of mind while overseas, she had delayed the idea until recently, when her current accounting firm increased its fees significantly, and the quality of service deteriorated.

The response time to service requests had become longer, and her account filing had been omitted, resulting in a court summon for tax filing.

In search of a better solution, Sharnmaine finally found Provisor, and we quickly took over her account, completing the accounting and tax work, and settling all the filings in just three days. Sharnmaine was impressed with our service and wished she had switched to us earlier.

"I should have switched much earlier," Sharnmaine told her friend. "Provisor is a medium-sized company, definitely more established than my previous one, and the best part is that they offer a better price for all the services. The team I work with are very friendly and professional, and my fellow colleagues are also happy with the change to them."

At Provisor, we understand the importance of providing reliable and affordable services to businesses, especially during challenging times. Our team is committed to delivering top-notch service and helping our clients achieve peace of mind, no matter where they are located.

Success Story

Bank Account Application Was Rejected After Company Was Set Up

Mr. Lu, a garment manufacturer from China, wanted to establish a trading office in Singapore to expand his business in the overseas market.He found a secretary firm online with an attractive incorporation fee and engaged them to set up his company.

Although there were some initial communication gaps, Mr. Lu was able to set up the company after two weeks.

However, when he applied for a business bank account, he found out that the process was more complicated than expected, with stringent requirements such as documentation, forms, and KYC reviews. After waiting for more than a month, Mr. Lu's application was rejected, causing stress and delays to his pending orders and contracts.

Mr. Lu turned to his secretary firm for help but was disappointed to learn that they were unable to assist with the bank account application.

Feeling helpless and frustrated, Mr. Lu sought our help.

We sat down with him, understood his business and situation, and took over his company secretary work. We then restarted the bank application process, reviewed all documents, compiled necessary materials, and sat with Mr. Lu together with the banker to explain his business and close any gaps.

After three weeks of hard work, Mr. Lu's business bank account was finally approved, and he was able to start his business. We became his trusted partner and subsequently received several business referrals from him.

"We should have engaged Provisor from the beginning. Their team is professional, knowledgeable and experienced. They provided valuable advice, exceptional service and helped us to overcome the challenges. I highly recommend their services." - Mr. Lu

Success Story

Accounting Emergency Support- Accountant Left with Short Notice

Chris Burton, a director of a UK-based technology company, faced significant challenges when they acquired a tech group in Singapore, which had around 30 employees.

The acquisition resulted in structural changes, operational process alterations, and management team transitions.

As a result, Chris had to travel to Singapore to manage the local operation and stabilize the business.

Being new to the Singapore market, he faced tremendous challenges dealing with the new environment, especially during the transition period.

Unfortunately, the finance manager and accountant left the company at the same time, causing a significant setback for the finance department.

Chris struggled to find someone who could help him with crucial financial tasks like handling payments, preparing payroll and commission, producing accounts for management decisions, and ensuring compliance with statutory filing requirements. Despite advertising for an accountant, he could not find a suitable candidate within the required timeframe.

Chris turned to us for assistance, and we immediately allocated a senior accountant and a manager to help the company sort out its financial records. We ensured that creditors and employees were paid promptly and retrieved all financial accounts and records to organize them accurately. We successfully managed to put the records in order and submitted them to the headquarters on time.

Chris was relieved by our help, and he decided to continue outsourcing our services instead of searching for a permanent accountant. Our assistance demonstrates the value of outsourcing financial management services to experts in the field, especially when faced with unexpected challenges like staff turnover or market transitions.