Among the key functions of a secretary is to guarantee compliance with the guidelines and regulations of a corporation. They are liable for attending and arranging board meetings and recording minutes. They are also important in ensuring smooth legal compliance, operations, and the overall success of a business. Considering all these responsibilities, the portfolio remains the same for every business that wants legal standing.

However, companies have several options for securing secretarial services for their business. They may consider in-house secretaries or outsource services from reputable corporate service providers in Singapore, like BoardRoom.

Both have pros and cons, but in today’s evolving commercial landscape, where business frameworks keep on becoming complex, many companies acknowledge the power of outsourcing secretarial services for the following reasons:

1. Get Full Compliance

With many administrative responsibilities to fulfill, the job of a secretary becomes difficult. Keeping records should be meticulous to prevent recording mistakes that can help you understand the compliance status of your business. Hence, outsourcing to external professionals can help improve accuracy and increase the chances of complying with ACRA annual filing in full.

In addition, outsourcing will give you complete access to accounting and financial services you might not have direct knowledge or experience of in-house, like audit compliance, risk management, compliance health checks, and government, to name a few.

2. Cost-Effectiveness

Most business owners and entrepreneurs strongly believe outsourcing secretarial services is costly, but that isn’t true. It is a cost-effective process, allowing you to save money that you would have spent on other business processes.

Rather than spending your money on hiring or in-house training, outsource secretarial services from an experienced and professional team. An outsourced team is familiar with the policies and laws that should be implemented for smoother business functioning.

3. Accurateness

Running your business is challenging, wherein the correctness and efficiency of the entire process are vital. Companies may benefit greatly from timely and correct management of important business tasks by outsourcing secretarial services and solutions.

This will help to avoid possible legal challenges since you will complete all the legal procedures on time. Plus, you will not have to think of ACRA’s annual filing of tax or financial reports since experienced secretarial service providers in Singapore can manage it.

4. Transparency and Trustworthiness

To retain trust in the public, business organizations need to work ethically with transparent policies and trustworthy leaders.

Companies without transparent and stable governance will be tested to the limits, but professional secretarial services will be useful. They can support business leaders and owners by simply providing specialist, impartial, and up-to-date expertise.

5. Expertise

Since company secretarial service providers are mostly focused on their secretarial roles, they can develop a particular level of professionalism, which lets them get things done quickly and accurately.

For a business, this simply means having the capability of getting on with the core deliverable fast, like launching services or products in the market. A good secretarial service provider will provide you with services with this expertise:

• Compliance with the constitution
• Arrange for AGMs
• Correspondence with different shareholders
• Update and maintenance of statutory registers
• General statutory compliance

6. Improved Productivity and Efficiency

Delegating secretarial duties to an external expert will free up invaluable time for you and your team to concentrate on core business operations. Responsibilities like submitting and preparing annual reports, managing share transactions, maintaining statutory registers, and ensuring accurate record-keeping can use a lot of time.

Outsourcing all these duties to a reliable secretarial service provider will ease the burden. With their skills, tasks will be completed efficiently while your in-house team focuses on overall business performance, improving productivity, and strategic decision-making.

7. Freedom of Working

You can improve the quality of work if you give your team the freedom to work. Secretary service providers will ensure autonomy if you hire them.

Believe it or not, every company has some of politics. At times, these politics affect secretaries. Office secretaries have a relationship with other employees, so this kind of politics or favoritism can be unnecessary or unwanted.

However, hiring a secretarial service provider means the expert will not have a dependent relationship with anyone, preventing favoritism in the workplace.

8. Get Skilled Experts

Based on the services you want to outsource, you are more likely to find experts with enough experience and someone who has specialized in your industry. If you own an IT company, you can find secretarial service providers specializing in IT support and administrative support.

When you outsource a specific task to such providers, they will bring in a skilled and qualified team to handle those responsibilities on your behalf.

9. Consistent Handling

Outsourcing secretarial services will give you access to an expert who may deliver consistent and accurate results. You will have nothing to be worried about the quality of work and time as they can offer you all the services you need within a specified timeframe.

Experts helping through outsourcing often have knowledge and skills about administrative tasks. These professionals will deal with complex processes without asking for your involvement. This, in turn, will give you confidence about the kind of work the professionals deliver and whether they are good at dealing with administrative tasks and requirements.

10. Service Levels

Outsourcing secretarial services will enable you to agree on and set service standards and levels. While in-house secretaries will enable the organization to set standards of excellence for projects and tasks, there are risks of those standards going down when those employees leave. It might take several months or even one year to get a perfect replacement, and training the new team might be time-consuming and costly.

However, outsourcing the service to a secretarial company will allow for flexibility in the service levels and ease the ramping up when your business understands important growth activities, such as M&A (Mergers & Acquisitions).

In a Nutshell

Getting a corporate service provider who works at your pace is vital. If you are a digital-based company, you will need to seek the services of a provider that uses the latest tools and technology. Also, look for a service provider who employs creative techniques to hasten workflow by simply digitizing many processes.