On 29 June 2017, yonyou (in Chinese 用友) partnered with Golden Singapore (in Chinese 广联达) to share the latest trend of productivity enhancement on building and construction sector.
In 2016, the total GDP of Singapore at current market price is $410.3 billion and increased by 2.0% compared to 2015. Building and construction sector contribute 5% of $19.3 billion to total GDP 2016. Year 2016 has been a tough year for construction sector. However, at the beginning of the year 2017, BCA forecasted that the value of contract awarded will increase due to public sector demand. Government still works hard to improve infrastucture islandwide. Accordin to URA master plan 2013, major projects, such as Cross Island Line, Jurong Region Line, Changi Airport T5, are in the planning process. And Jurong East Region transformation will also bring up the demand in building and construction sector.
While the opportunities are just there, the competition is get more and more intense. To overcome the chanllenges and raise productivity, Mr. Rex Choog, Mr. Patrick Tan from yonyou and Mr. Joel Ong from Gloden shared their experience to audiences. Cost controlling and management is always one of the most important factors to business success. Specially to building and construction sector, average production time normally exceed half a year and large projects easily cut across years for completion. Lost track of cost will lead to unhealthy cash flow and eventually have negative impact on profit upon completion.