In today’s fast-paced business environment, staying competitive often means continuously improving the way your company operates. For many businesses, inefficiencies in processes can slow down growth, increase costs, and lead to missed opportunities. That’s why it’s so important for leaders and business owners to be aware of the government grants available, and utilise them as effectively as possible.
You’ve probably heard of the Productivity Solutions Grant (PSG) before, but what about Enterprise Singapore’s Process Redesign Grant? Designed to help businesses streamline their operations and improve productivity, this grant offers financial support for companies looking to optimise their workflows and processes.
In this article, we’ll explore what the Process Redesign Grant is, how it works, and how it can significantly benefit your business by transforming the way you operate.
What is the Enterprise Singapore Process Redesign Grant?
The Enterprise Singapore Process Redesign Grant is a government initiative aimed at helping businesses improve their operational efficiency, by funding projects that focus on redesigning internal processes. This grant is part of Enterprise Singapore’s efforts to support small and medium-sized enterprises (SMEs) in their journey towards greater productivity, innovation, and competitiveness.
Through this grant, businesses can receive financial support of up to 50% of qualifying costs, for projects that involve rethinking and restructuring workflows, automating processes, and improving overall business operations. Whether it’s adopting new technology, eliminating bottlenecks, or enhancing customer service through more efficient processes, the Process Redesign Grant empowers companies to embrace change and optimise how they function.
By focusing on process improvement, businesses can achieve better resource utilisation, reduce operational costs, and boost productivity—key factors for long-term growth and success. The grant is open to a wide range of industries, making it a versatile solution for any business looking to scale more efficiently.
Benefits of the Process Redesign Grant
This grant offers a range of benefits that can significantly transform the way your business operates. By focusing on optimising and streamlining processes, it empowers companies (like yours!) to unlock new levels of efficiency, reduce costs, and enhance overall performance. Here’s how your business can benefit from it:
1. Increased productivity
Process redesign often uncovers inefficiencies and bottlenecks that slow down operations. By rethinking workflows and introducing automation or streamlined practices, your business can achieve faster turnaround times, reduce manual labour, and increase output without increasing resources. This boost in productivity helps businesses scale and meet growing demand more effectively.
2. Cost savings
Optimising processes isn’t just about speeding things up; it’s also about doing more with less. This grant allows you to implement solutions that reduce waste, lower operational costs, and improve resource allocation. Over time, these savings can have a significant impact on your bottom line, making your business more cost-effective and sustainable.
3. Enhanced customer experience
When your internal processes are optimised, it often leads to improved customer-facing services because your business has more capacity to focus on what truly matters. Whether it’s faster delivery times, better communication, or higher product and service quality, streamlined processes contribute to a more seamless and satisfying customer experience. This can lead to greater customer loyalty and a stronger brand reputation.
4. Greater flexibility and agility
In today’s rapidly changing business landscape, companies need to be agile. This grant helps businesses become more adaptable by making operations more flexible. By reconfiguring workflows and removing outdated practices, companies can respond more quickly to market changes, scale operations efficiently, and stay ahead of competitors.
5. Increased competitiveness
By improving efficiency, reducing costs, and delivering better customer experiences, your business becomes more attractive to both customers and partners. This can help you grow market share, expand into new markets, and achieve long-term success.
In summary, incorporating process redesign not only strengthens your business from within, but also ensures you’re prepared to face future challenges with greater resilience and efficiency.
How do you apply for the Process Redesign Grant?
Applying for the Enterprise Singapore Process Redesign Grant is a straightforward process, but it requires careful planning to ensure your business meets the grant’s objectives and eligibility criteria. If you feel overwhelmed by all the information available and don’t know where to start, here’s a step-by-step guide to help you navigate the application process and secure funding for your improvement efforts:
1. Determine your eligibility
Before starting your application, ensure that your business meets the eligibility criteria:
- Your company must be registered and operating in Singapore
- Your company must have at least 30% local equity held directly or indirectly by Singaporean(s) and/or Singapore PR(s), determined by the ultimate individual ownership
- The project must focus on redesigning key business processes to improve productivity
- Your company is financially ready to start and complete the project
If you’re unsure about your eligibility, you can contact Enterprise Singapore for additional advice and assistance.
2. Identify key areas for process redesign
Evaluate your current business operations to identify areas where process improvements can be made. Areas covered under this grant include:
- Reviewing and streamlining workflow processes to reduce or remove anything redundant
- Exploring the use of technology to automate processes
- Reviewing and/ or developing performance measures
- Developing tracking and measurement systems
- Developing a detailed roadmap of actions for further improvement
- Reviewing resource consumption and identifying areas of improvement
- Piloting and implementing recommended processes
Clearly define the scope of the project, the problems you aim to solve, and the expected outcomes — such as cost savings or increased efficiency.
Take note, this grant does not support things like:
- Office equipment or warehouse items that are typical for everyday use
- Software and equipment not relevant to the project
- Costs associated with setting up your business
- Items already subsidised through other grant schemes
3. Engage an approved consultant (optional)
While not mandatory, it can be beneficial to engage a consultant specialising in process redesign. Enterprise Singapore has a list of approved consultants who can assist with identifying areas for improvement, designing solutions, and preparing your grant proposal. Having expert support can strengthen your application and ensure the success of your project.
4. Prepare and submit your application
Once you’ve outlined your project and gathered the necessary documents, you can submit your application through the Business Grants Portal (BGP), which is the official platform for Enterprise Singapore grants. Key documents you’ll need include:
- A detailed project proposal outlining the scope, goals, timeline, and costs.
- Quotes for the project, including consultant or technology fees.
- Your company’s financial statements and other supporting documents to demonstrate the potential impact of the grant.
Refer to Enterprise Singapore’s Project Proposal Template here as a guide when crafting your project proposal, and the section ‘Documents to prepare’ for the full list of mandatory documents needed.
5. Evaluation and approval process
After submitting your application, Enterprise Singapore will review it to ensure it meets the grant’s criteria. The review process may take several weeks, during which you might be asked for additional information or clarification. If your application is approved, you will receive a Letter of Offer outlining the funding terms, as well as the project qualifying period and project deliverables.
6. Implement the project
Once approved, you can begin implementing your process redesign project. Do take note that you will need to complete your project within the specified qualifying period stated in the Letter of Offer, and all project deliverables must be achieved for you to successfully claim your grant reimbursement.
7. Submit your claims
Upon completing the project, you’ll need to submit your claim no later than six months from the end of the project qualifying period. Within the six months of your project completion, you will need to prepare the following documents for submission:
- Project report that details the outcomes and effectiveness of the process redesign
- Documentation of project deliverables
- Project invoices and salary receipts
- Update your preferred mode of disbursement on the Business Grants Portal (BGP)
This helps Enterprise Singapore evaluate the success of your initiative and compliance with the grant’s terms. Once you’ve submitted all the relevant documents on the BGP, an officer will verify that the project deliverables have been met. They may contact you if further information is required, or even ask you to arrange a site visit or presentation meeting. If your Project Report is incomplete, they may also ask you to revise it accordingly. Use this Claims Submission Checklist to ensure you’ve got all the important documents covered!
Once the project deliverables and expenses have been successfully verified, the approved claim amount will be disbursed via your preferred method of disbursement. You will also receive an email when your grant has been approved, and DBS will send an email to you as well notifying you that the funds have been credited to your account successfully.
Let Employment Hero help you with your Process Redesign Project!
When it comes to successfully implementing a process redesign project, having the right tools and support is crucial. That’s where Employment Hero can help. Our AI-powered, all-in-one platform enables you to streamline your recruitment, HR, payroll, and employee management processes—key areas that many businesses often need help with optimising.
With Employment Hero, you can automate time-consuming manual tasks, create more efficient workflows, cut your hiring time, improve employee experience and much more! Our next-gen platform allows you to manage employment from end-to-end, all in one place—empowering you with the right tools you need to work smarter, and achieve business goals faster.
From digitising onboarding and attendance tracking, to generating payslips and reports with the click of a button, Employment Hero can play a pivotal role in your process redesign journey. Employment Hero leverages automation to eliminate admin-heavy and unproductive recruitment, HR and payroll processes. Let us help you make your business transformation as smooth, efficient, and successful as possible.
Join our community of more than 300,000+ SMEs globally who have redesigned their processes, and are now 42% faster, 52% more efficient, and use 65% less paper. Businesses who implemented Employment Hero also experienced a 173% return on investment by the end of their first 3 years.
Keen to find out more? Contact us today to see how Employment Hero can support your process redesign project!
Employment Hero is also a pre-approved vendor for the following grants:
- Singapore — Productivity Solutions Grant (PSG)
- Malaysia — HRD Corp Grant (HRDF Claimable Courses)
To apply for a grant in Singapore, check out our guide to the Business Grants Portal.
