Singapore’s Textile Industry: Overcoming Sector Specific Circumstances

Innovation and resilience make the textile industry in Singapore famous throughout the world. However, it contends with difficult operational challenges that stand as the trademark of the industry. An example of a challenge is the challenging environmental regulations for textile production that are becoming stricter day by day and hash out the need for a central adaptation and investment. Also, like all other firms, managing the high-end inventory is a constant problem for textile firms due to their vast stock. The labor cost in Singapore is more than in some other hubs of manufacture thus textile firms also need to work on their workforce efficiency. Besides, the increasing market for environmentally sustainable and green products requires huge R&D investments, which is no more the case in many sectors at all.

Nonetheless, there are also some problems in common with the textile sector that other industries face. Companies in Singapore are grappling with the digital revolution which involves both technology adoption and a cultural shift inside organizations. Another typical challenge is cybersecurity; looking after the data of individuals is the priority especially with the onset of remote working and cloud solutions. Because of the pressure on global competition, textile manufacturers, similar to the firms in the technology and finance sectors, must concentrate on innovation in order to maintain their market share.

The Wonderful Transforming Power of HCM Systems

The textile firms in Singapore that are confronting these challenges can be transformed entirely by using the high-quality human capital management (HCM) system. The use of HCM systems can help in streamlining the process and at the same time make the manager more powerful through the introduction of advanced capabilities. For those textile firms in Singapore struggling with labor management, the rostering function of HRMS software which is based on artificial intelligence makes it possible to distribute the workforce optimally, thus, considerably reducing labor costs.

Also, the HCM solutions such as HRMS offer powerful analytics tools that can provide insights about productivity and performance patterns. This is the reason behind the electronic firm is successfully data-driven.

• Rule-based Workflow Engine: Automating tasks and processes, thereby, minimizing errors and time, it seems to be the most efficient way to do things.

• Fully Customizable Payroll Formula: Eliminating the need for changes in payroll customization by more than 90%, it is the solution for complex compensation plans in textile firms.

• Intelligent Roster Planning: The allocation of resources in a more effective manner which leads to the reduction of costs and improvement in efficiency.

• Unlimited Dimensions of Headcount: Providing a much more sophisticated analysis of the workforce for the purpose of human capital strategy and planning.

• ISO:27001 Certification: Providing solid protection of data which is the concern of many in this digital world.

IRAS Approval and AIS Compliance

Multiable HCM system, the one and only, is the front-runner of quality among HCM systems, which obtained the qualification certification of the Inland Revenue Authority of Singapore (IRAS) as the awardee in the ‘Category of Software Compliance to Controls’ in the Auto-Inclusion Scheme (AIS) for Employment Income. This is a mark of both reliability and quality which not only the textile industry but also the state clarifies that is essential for the compliance with important local regulations such as CPF contributions and long service payments.

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.