With the digital push accelerated by COVID-19 changes, companies (regardless of their size or industry) are increasingly moving to digital solutions. Whether you are a tiny two-person partnership or a medium-sized enterprise hiring a team of employees, digital solutions can be a huge productivity booster and business enabler.
With the Productivity Solutions Grant (PSG) offering up to 80% subsidies, it is high time companies got onboard with using IT solutions to digitalise some (mind-numbing) aspects of business operations.
Under the PSG, the maximum support level is up to 70%, from 1 April 2022 to 31 March 2023. For eligible solution sub-categories under the Food Services and Retail sectors, the enhanced support level is up to 80%. From 1 April 2023 onwards, the maximum support level will be up to 50% for all sectors.
Here are some 5 digital solutions (preapproved under PSG) that every company should adopt to digitalise their daily operations.
Note: prices cited are the total package cost which may be more than the total qualifying cost.
Read Also: Guide To Productivity Solutions Grant (PSG)
#1 Xero Cloud Accounting – Accounting Software
The backbone of every business operation, accounting can be a headache for many companies. A good accounting software can provide features such as invoicing, bank reconciliation, inventory, quotes, expense claims, reporting, and payroll. For a small business, this may be all that’s needed administratively.
One popular and easy-to-use accounting software for SMEs is Xero and this is well covered under PSG. There are multiple vendors offering Xero-based packages, ranging from a subscription-only package to comprehensive multi-user setup and consultation.
- Package A (Xero Standard Subscription Only) – $660.00
- Package B (Starter Package: Premium Subscription + setup) – $1,998.00
- Package C (Starter Package: Premium Subscription + setup) – $2,398.00
- Package D (Standard Package: Premium subscription + setup w opening bal + training) – $2,999.00
- Package E (Premium package: Premium subsciption+setup w historical data+training) – $3,798.00
Do note that this is a non-comprehensive listing of vendors who offer Xero Cloud Accounting. Some vendors package Xero with their own in-house platforms and added services, while others provide setup and training services.
Additionally, if you do not wish to use Xero, alternatives such as QuickBooks are also available under PSG’s Pre-Scoped IT solutions.
#2 Dropbox – Cloud Storage, File Management and Sharing Solutions
If your company is thinking of making a move from paper to digital, file management and cloud storage solutions are essential. Even if all you do is scan paper copy to digital copy, having a good cloud storage system can save you a lot of stress.
A popular cloud storage and file sharing solution for consumers, Dropbox is also available for businesses and offered under the PSG.
- Dropbox Business – Dropbox Business 3 Users – $1,235.00
- Dropbox Business – Dropbox Business 5 Users – $1,725.00
- Dropbox Business – Dropbox Business 10 Users – $4,400.00
- Dropbox Business – Dropbox Business 15 Users – $6,350.00
- Dropbox Business – Dropbox Business 20 Users – $8,300.00
- Dropbox Business – Dropbox Business 3 Users – $1,334.40
- Dropbox Business – Dropbox Business 6 Users – $2,068.80
- Dropbox Business – Dropbox Business 12 Users – $3,537.60
- Dropbox Business – Dropbox Business 15 Users – $4,272.00
- Dropbox Business – Dropbox Business 18 Users – $5,006.40
Read Also: How To Use The Productivity Solutions Grant (PSG) To Buy Laptops For Your Business
#3 Shopify– E-Commerce
E-commerce is the new retail and any business that sells a product or service direct to consumers should invest in an e-commerce solution. Shopify is one of the most popular e-commerce digital solutions available. Other e-commerce solutions including custom designs and integration are also available.
Shopify Commerce Singapore Pte Ltd
- Shopify – Basic Plan – $348.00
- Shopify – Shopify Plan – $1,188.00
- Shopify – Advanced Plan – $4,788.00
- Shopify – Plus Plan – $30,000.00
#4 Salesforce – Customer Relations Management (CRM) Software
Customers are the lifeblood of any business and CRM software help you to keep track of every single customer from day one. Having good information about your customers can improve your sales leads and lead to better revenue and better customer satisfaction. Things like sending a reminder to your customer on their upcoming appointment or sending a birthday promotion can be easily automated with CRM software but would be incredibly tedious to implement manually as your customer base grows.
- HubSpot – Package A Sales Starter – $7,408.00
- HubSpot – Package B Marketing Starter – $9,887.00
- HubSpot – Package C Growth Suite + Bonus – $9,987.00
- HubSpot – Package D Sales Pro – $16.060.00
- HubSpot – Package E Marketing Pro – $21,940.00
HubSpot is just one of the many CRM solutions offered and some integrate accounting software and ERP software that include CRM components in their programmes as well. You may not need a standalone CRM solution.
#5 SAP Business One – Enterprise Resource Planning (ERP) / Business Management Software
More suited for SMEs who are leaning towards the medium end of enterprises, Enterprise Resource Planning (ERP) or business management software are integrated solutions that aim to cover all aspects of business operations. This includes accounting, CRM, inventory management, project management, warehouse management, manufacturing etc.
One well-known example is SAP Business One. Companies may have heard of SAP which is commonly used by large enterprises including government agencies and MNCs. SAP Business One is a cloud based version that is suitable for SMEs.
Integrated Information Systems Pte Ltd
- SAP Business One Version 10 – 2 Starter Users – $12,230.00
- SAP Business One Version 10 – 3 Starter Users – $15,045.00
- SAP Business One Version 10 – 5 Starter Users – $20,675.00
- SAP Business One Version 10 – 3 Professional Users – $25,308.00
- SAP Business One Version 10 – 6 Professional Users – $39,492.00
Similar to Xero, there are multiple vendors offering SAP Business One and this is not a comprehensive list of all the available vendors.
Alternatively, also consider Microsoft Dynamics 365 Business Central which is also available under PSG’s Pre-Scoped IT solutions.
Read Also: Step-By-Step Guide To Using The New GoBusiness Gov Assist For Finding Grants You’re Eligible For
This article was originally published on 15 March 2023 and has been updated with the latest information.
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