Toshin Development Singapore’s HR & Finance Departments Work Hand in Hand
Toshin Development Singapore Pte. Ltd. is a wholly owned subsidiary of Toshin Development Co., Ltd. which was incorporated in 1963 and is one of the core companies of Takashimaya Group. It manages the specialty stores area of Takashimaya Shopping Centre located from basement 2 to level 4 of Ngee Ann City, covering over 370,000 square feet.
In every organization, the roles of HR and Finance will always be intertwined. With the growing demand for CFOs taking active roles in defining business strategies, an in-depth understanding of the company’s talent and resources is required. On the other side, HR leaders are expected to have a clear view of each team’s budgets and strategic priorities.
Toshin Development saw the need to shift their gears quickly in order to keep pace with emerging technology disruptions. Frontier e-HR was the chosen solution to overcome the challenges with the decision to automate their Employee and Leave Management under HR control, as well as Travel, Benefit and Expenses under Finance. An interface between Frontier e-HR and Toshin’s existing Accounting System is also built to develop a seamless integration. A further connectivity between Leave system and time clock devices is performed to eliminate manual work of monitoring workforce.
Since business travel attributes to the majority of expense line items and they are intrinsically linked, by having both areas managed in a similar platform, Toshin will be able to have a better control on their budget, save the processing time without compromising on compliance.
Through all these systems unifications on the cloud, the difficulty of having a disparate system and disconnected HR and Finance team no longer exists. When Finance and HR applications are integrated, multiple entries on the data or the wait for mapping will not be necessary, in the growingly popular terms – improving data integrity and control.