Digital Resilience Bonus (DRB)

9 June, 2020


The Digital Resilience Bonus (DRB) was announced during the recent Fortitude Budget, which is already the fourth budget announced in 2020. The DRB provides additional support for enterprises that are seeking to uplift their digital capabilities in order to align with the safe management practices.

 

For a start, the DRB will be targeted at the Food Services and Retail sectors. These are the sectors which have been most badly hit by the Covid-19 pandemic. Through the DRB, businesses in these two sectors will be able to transform quickly and adapt to the new digital economy.

 

Food Services and Retail enterprises that adopt predefined categories of digital solutions under the DRB can receive bonus payouts of up to $10,000 to offset the injected cost of transformation (Please see Table 1 below).

 

Table 1: Solution categories and Digital Resilience Bonus quantum

 

Baseline

Category 1

($2,500)

Category 2

($2,500)

Category 3

($5,00)

Food Services

PayNow 

Corporate and 

e-invoicing

Business process 

solutions:

(i)   Accounting;

(ii)  HR/Payroll; 

      AND

(iii) Digital ordering 

      (dine-in/

      takeaway)

Digital presence: 

online food 

delivery (via food 

delivery 

platforms or own 

online shopfront) 

or e-procurement

Data-driven 

operations: data 

mining and 

analytics

Retail

PayNow 

Corporate and 

e-invoicing

(i)   Accounting;

(ii)  HR/Payroll; 

      AND

(iii) Inventory

      management

Digital presence: 

e-commerce

Data-driven 

operations: data 

mining and 

analytics

 

If you are a F&B or retail business which adopts qualifying solutions in any of the above three categories, on top of the baseline solutions, you will get to receive corresponding bonus payouts for the respective categories.

 

See example below on how a F&B business can benefit through the DRB:

 

Solution(s) Adopted

Funding

Baseline

  1. PayNow Corporate
  2. E-invoicing

 

Category 1

  1. Xero (Accounting)
  2. Talenox (HR/Payroll)
  3. Storehub (Digital Ordering)

$2,500

Category 2

  1. Grab Food OR Beep by Storehub (Online food delivery)

$2,500

Category 3

  1. Data mining and analytics

$5,000

Total Funding Received

$10,000

 

More details and qualifying conditions on the DRB will be announced at a later date.