ERP: A Tool to Avoid Systemic Risk and Systematic Risk in Singapore

The failure of Silvergate Capital Corp (SI), Silicon Valley Bank (SVB) and Signature Bank (SBNY), coupled with the financial crisis, brings to light the discussion of systemic risk and systematic risk. Many experts have commented on whether the crisis will pose a systemic or systematic risk to the economy.

While systemic risk and systematic risk may seem similar, they carry different implications in the financial world. Systemic risk is the risk that a large-scale collapse could be triggered by events at the company or industry level. Systematic risk affects the entire market, resulting from factors like economic conditions and political upheavals. However, there is a common belief that we all share: none of us wants to see either risk occur.

Here are some ways in which ERP can help businesses to avoid systemic risk and systematic risk! ERP is a system that ties together all the different functions of a business into one streamlined operation. ERP software is designed to increase efficiency and lower costs by streamlining business processes. The right ERP software can help you address all of your core business needs. It reduces the inefficiencies of having multiple systems and protocols by consolidating them onto one platform. Centralized data can be accessed by any employee and contributes to data transparency, which is a key for corporate governance enforcement, is enhanced as a result.

Multiable has over 30 years of ERP system implementation experience, and the project team has rich experience in implementation cases. Multiable ERP system has served more than 6,000 companies in Asia by providing fully integrate corporate resources solutions, standardize business processes, improve departmental collaboration efficiency, and establish long-term, trusting partnerships with them.

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