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Industry: Food & Beverage
Firmwide Headcount: 1-49 Employees
Singapore Headcount: 100-249 Employees
Service Engaged: Outsourced Accounting
Table of Contents
Overview
Red House Seafood wanted greater consistency across its finance processes while keeping pace with evolving regulatory requirements and submission timelines. With a lean internal team supporting its operations, the company needed a dependable partner to streamline accounting workflows, reduce manual effort and enable its team to focus more on core business operations and planning.
The Finance Director shares how AccountServe helped improve efficiency, strengthen compliance, and simplify day-to-day accounting through standardised processes and responsive support.
The Challenge
Before outsourcing, the client faced two key challenges:
- Inconsistent accounting processes, driven by manual processes and non-standardised workflows.
- Difficulty keeping up with regulatory requirements and timelines, creating uncertainty around compliance and submissions.
These challenges increased operational friction and made it more difficult to maintain consistency across recurring accounting activities.
The Solution
We partnered with the client to streamline and standardise its end-to-end accounting workflows, including accounts payable and receivable (AP/AR), sales reconciliations and quarterly management reporting closures. This helped reduced process variations and unnecessary manual steps.
We also provided ongoing guidance on regulatory requirements, submission obligations and key timelines, including relevant updates to Singapore Financial Reporting Standards (SFRS) and reminders for statutory filings.
On the operational front, we worked within Business Central, supported by our firm’s IT counterpart to facilitate smoother coordination and reduce the number of touchpoints required from the client.
The Results
Since outsourcing its accounting function to our team, the client reported:
- Improved efficiency and faster processing times
- Reduced manual input, helping to minimise the risk of human error
- Stronger regulatory compliance, supported by greater clarity around requirements, timelines and submissions
- More internal bandwidth, allowing the team to focus on core business operations
With recurring accounting and statutory requirements managed more seamlessly, the client gained a more efficient and dependable finance support structure.
Client Experience
The client highlighted the team’s responsiveness, reliability and technical knowledge as key strengths:
- Queries were addressed in a timely and efficient manner through email and WhatsApp
- The team demonstrated strong knowledge of regulatory frameworks, timelines and submission requirements
- Day-to-day accounting matters were addressed promptly, including practical questions such as GST treatment and expense coding
Overall, the engagement provided Red House Seafood with a more standardised and efficient accounting process, supported by responsive guidance that helped the business stay on top of its ongoing compliance requirements.
How AccountServe Can Help
AccountServe can support F&B businesses with outsourced accounting services, including accounts payable and receivable, sales reconciliation, financial reporting, GST accounting and ongoing accounting compliance support. Our team can also help businesses standardise finance processes and improve day to day accounting efficiency.
Speak to our AccountServe team to discuss how outsourced accounting support can help your F&B business improve financial processes, strengthen compliance and free up internal resources.
Fionn Shoo DirectorFionnShooPY@rsmsingapore.sg
How Ya Wen
Director
HowYaWen@rsmsingapore.sg
