The Story

1. The Story Presented By BG (NS) Winston Toh Senior Vice President / General Manager ST Electronics (e-Services) Pte Ltd In Partnership With : Delivered By :

2. Scope iServe- Key Features Provision of Finance and Accounting Services Quality Assurance VCF Funding Scheme

3. iServe - Key Features iServe- Key Features Provide a comprehensive suite of finance and accounting services 1 Available to Charities, IPCs and National Sports Associations under NCSS, MOH and SSC 2 Charities and IPCs from other sectors are encouraged to participate 3 Three-year pilot project commencing from 1 Oct 2009 4 Supported by VCF Funding 5 The Integrated Shared Services for Excellence

4. Scope iServe- Key Features Provision of Finance and Accounting Services Quality Assurance VCF Funding Scheme

5. Shared Services Delivery Structure website: www.iserve.sg Front Office Provision of Finance and Accounting Services Mid Office Shared Services Delivery Centre Back Office Accounting Software / System

6. Provision of Finance and Accounting Services Accounts Payable Accounts Receivable Provision of Finance and Accounting Services Asset Management Journal Adjustment Financial and Management Reports Audit Management

7. Accounts Payable Supplier Payment Reimburse-ment Cash Advance Petty Cash • Matching of invoices / PO / GR • Paying within payment terms • Posting of expenses • Monitoring payables aging • Reimbursing employees for official claims • Reimbursing employee benefits claims • Posting of expenses • Issuing approved cash amount to designated individuals • Clearing advance account balances • Posting of expenses • Monitoring petty cash float • Topping up of petty cash • Posting of expenses Provision of Financeand Accounting Services

8. Provision of Financeand Accounting Services Accounts Payable Accounts Receivable Provision of Financeand Accounting Services Asset Management Journal Adjustment Financial and Management Reports Audit Management

9. Accounts Receivable Billing • Creating receivable transactions via ad-hoc / recurring bills • Monitoring outstanding bills • Sending reminders Provision of Financeand Accounting Services Collections • Managing collections: Cash / Cheque / Electronic • Generating receipts & Statement of Accounts • Posting of income • Performing bank reconciliation Arrears Management • Monitoring receivables aging • Sending letter of demand • Processing write-off

10. Provision of Finance and Accounting Services Accounts Payable Accounts Receivable Provision of Financeand Accounting Services Asset Management Journal Adjustment Financial and Management Reports Audit Management

11. Asset Management • Verifying data in purchase order & invoice • Capturing asset details • Generating asset identification tag • Posting to general ledger Acquisition • Scheduling and initiating organisation for annual stocktake & inspection • Maintaining Fixed Asset Register (FAR) • Provision for depreciation • Posting to general ledger Provision of Finance and Accounting Services Management • Recording changes in location of asset • Updating FAR Transfer • Updating of record • Posting of sales proceeds • Computing gain/loss from disposal • Posting to general ledger Disposal

12. Provision of Finance and Accounting Services Accounts Payable Accounts Receivable Provision of Finance and Accounting Services Asset Management Journal Adjustment Financial and Management Reports Audit Management

13. Journal Adjustment Depreciation for non-current assets Ad hoc adjustments Accrual Provision of Financeand Accounting Services Journal Adjustments Amortisationfor grants Provisions Interest receivables

14. Provision of Finance and Accounting Services Accounts Payable Accounts Receivable Provision of Finance and Accounting Services Asset Management Journal Adjustment Financial and Management Reports Audit Management

15. Financial & Management Reports • IPC Return of tax-deductible donations • Return of tax-deductible receipts issued for the period (General return) • Return of tax-deductible receipts issued for the period (Building/Specific Return) • Quarterly GST submission Statutory Reports (Annual / Quarterly) Provision of Finance and Accounting Services • Statement of financial position • Statement of income • Statement of cash flows • Trial balance • Budget-variance reports Financial Reports (Monthly) • Statement of expenditure reporting for funded program /event / project • Balance sheet schedule • Aging reports for payables and receivables • Fixed asset register Management Reports (Monthly)

16. Provision of Finance and Accounting Services Accounts Payable Accounts Receivable Provision of Financeand Accounting Services Asset Management Journal Adjustment Financial and Management Reports Audit Management

17. Audit Management Audit Liaison Document Provision Audit Response Follow Up Provision of Financeand Accounting Services • Contact point between auditors & Organisations • Coordinates audit schedules • Annual financial statements • Other supporting documents • Assist Organisations with drafting responses to auditor’s observations • Journal Adjustments

18. Scope iServe- Key Features Provision of Finance and Accounting Services Quality Assurance VCF Funding Scheme

19. Quality Assurance Comprehensive Quality Assurance Framework Segregation of Duties 2-key Checks Review by Accountants • Maintenance of Vendor Records • Maintenance of Customer Records • Maintenance of Approving Signatories & Financial Limits • Payable transactions • Collections • GL Adjustments • Financial Statements • Statutory Reports • Management Reports • Budgetary Reports • Bank Reconciliation • Response to audit queries System Checks / Sampling Checks Quality Assurance • Billing • Fixed Asset Register ISO certification / Check lists / Standard Operating Procedures Compliance With Code Of Governance and other regulatory requirements

20. Tangible Benefits Efficiency ERP Based Accounting Software • E-Enabled Solutions • Reliable System Platform • Effective and Efficient Processes Governance • Enhanced Accountability • Effective Checks & Internal Controls • Streamlined & Defined Workflows / Procedures Quality Assurance Processes with Enhanced Controls

21. What We Provide Professional Administrative Functions Enhanced Governance Continuous Improvement of Processes Quality Assurance Excellence inFinancial Services

22. Scope iServe- Key Features Provision of Finance and Accounting Services Quality Assurance VCF Funding Scheme

23. VWOs-Charities Capability Fund (VCF) 1 Aims to enhance governance and management capabilities and improve organisational efficiency of Charities 2 iServe is an approved project co-funded by VCF. The funding available is known as Shared Services Grant 3 All exempt, registered charities and/ or Institutions of a Public Character (IPCs) are eligible to apply for the Shared Services Grant VCF Funding Scheme

24. Shared Services Grant Structure Sign Up Period 1 Oct 2009 - 30 Sept 2010 1 Oct 2010 - 30 Sept 2011 1 Oct 2011 - 30 Sept 2012 Subsidisedat 75% of Monthly Charge Subsidisedat 50% of Monthly Charge Subsidisedat 25% of Monthly Charge Subsidy Percentage VCF Funding Scheme

25. Charging Model 1 “Pay as You Use” (Transactional volume-based) 2 Monthly invoicing for full amount 3 Subsidised amount to be reimbursed from VCF VCF Funding Scheme

26. Beyond Financial Services Procurement Payroll • Available as Optional Services • Add-on to Finance & Accounting Base Services • VCF subsidy available Optional VCF Funding Scheme

27. Our Partnership With Charities • Our aim is to provide a • One Stop • Shared Services Centre • to support Charities/IPCs/NSAs • in achieving • Organisational Excellence VCF Funding Scheme

28. Delivered By ST Electronics (e-Services) Delivered By ST Electronics (e-Services) Financial Services Training & Education Services Accounts Management Accounts Payable Accounts Receivable Reporting & Support Services Financial System Training Organisational Training Competency Development Training Training / Education Consultancy Continuing Education Programs Language Training Career Transition HR Services Admin Services Payroll & Claims Benefits & Compensation NSmen Allowances & Make-Up Pay Claims Staff Welfare Progs & Amenities Family Support & DevtProgs Overseas Travel Mass Registration Mass Enrolment Event Management Document Management Identity Doc/Passes Production We Are Multi Functional!

29. Delivering Positive Experience