What is the Digital Resilience Bonus?
Updated: Sep 17, 2020
Another grant that SMEs onFood and Retail industries can tap on is the Digital Resilience Bonus (DRB). DRB aims to uplift the digital capabilities of a broad base of enterprises. For a start, DRB will be targeted at the Food Services and Retail sectors which are more affected by safe distancing requirements in the reopening of the economy.
The DRB is given on top of enhanced digitalization assistance provided under the SMEs Go Digital program. Food Services and Retail enterprises that have PayNow Corporate, e-invoicing, and use pre-defined categories of digital solutions for Business Processes, Digital Presence, and Data Mining and Analytics can receive bonus payouts of up to $10,000.
Who are eligible for the DRB?
Food and Retail Sectors whose UEN is incorporated on or before 26 May 2020
Must have an Active PayNow Account
Must be using Peppol e-invoicing network
If you meet the criteria above, you are qualified to proceed on the DRB under these 3 Categories :
1. Business Process Solutions ($2,500 payout)
Your business must be using all 3 qualified solutions below at least once a month:
2. Digital Presence ($2,500 payout)
Your business must enable sales via an Online Shopfront OR Online Food Delivery or must be making purchases on an e-Procurement platform at least once a month.
3. Data Mining and Analytics ($5,000 payout)
Your business must be using a qualified solution for Data Mining and Analytics to obtain insights on how to improve my operations at least once a month.
Your business may get a total of $10,000 payout if you have complied with the requirement of all the categories. Make sure to have your Solution Provider (or Supporting Bank) submits your UEN to IMDA, as a proof that you have been using their solutions For you to get the payout.
According to IMDA, qualified businesses will start receiving payouts by August 2020. Processing time will take about one month, upon the submission of UENs by Providers of Qualified Solutions (or Supporting Banks) to IMDA.
Subscribe to our HR and Payroll Solutions, and you’ll be qualified for the DRB. Contact us at 66531198 for a free consultation now.