Digital Resilience Bonus
Digitalisation is a key enabler for businesses to improve their competitiveness and productivity, so that they can emerge stronger. It will also help businesses to be more resilient and adapt to new post-COVID norms.
The Digital Resilience Bonus (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 digitalisation assistance provided under the SMEs Go Digital programme. Food Services and Retail enterprises that have PayNow Corporate accounts without suffix, 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.
CyanSYS’ Microsoft Dynamics 365 Business Central solution is the qualified solutions for Accounting and Inventory Management which are 2 of the business solutions required to be used by companies in order to qualify for Digital Resilience Bonus – Category 1 ($2,500 payout).
CyanSYS will submit your company’s UEN to IMDA, when there is evidence of your usage and when your company meets all the criteria for Digital Resilience Bonus – Category 1 ($2,500 payout), IMDA will credit the Bonus into your company’s PayNow Corporate account accordingly.
Other basic criteria includes:
- Company UEN falls under Food Services or Retail Sectors as at 26 May 2020.
- Company has an active PayNow Corporate account
- Using InvoiceNow
For more information on Digital Resilience Bonus, visit IMDA website.