IMDA launches two new digital solutions with up to 70% funding support to help retail and security SMEs modernise their operations.
KEY POINTS
IN SIMPLE TERMS
The government is offering new technology tools designed specifically for small retail shops and security companies to run their businesses better. It will pay for most of the cost — up to 70% — so these businesses can afford to upgrade without spending all their money.
WHY IT MATTERS
WHERE DO YOU STAND?
Do you think subsidising 70% of digital tool costs is the right way to help Singapore's SMEs stay competitive?
👍 👎 Vote ↓A well-planned move by IMDA brings in new digital solutions, improving Singapore’s SMEs’ edge in the market.
New efforts by the Infocomm Media Development Authority (IMDA) promise to update small and medium enterprises (SMEs).
On 16 July 2024, IMDA rolled out new categories under its Advanced Digital Solutions (ADS) scheme.
IMDA, along with Enterprise Singapore, is bringing in Omnichannel Retail Management (OCRM) and Integrated Security Management (ISM).
These are specially made to support SMEs in the retail and security industries.
This plan will pay for up to 70% of the costs for SMEs to use these digital solutions.
It fits perfectly with the industry’s digital plans.
Tech-savvy SMEs can now update with less money worry.
This support aims to push digital change in two key sectors.
Here are some key points to note:
According to Leong Der Yao, IMDA’s Assistant Chief Executive, “
The new solutions are pivotal within our DEB strategy to digitise SMEs.”
The Omnichannel Retail Management solutions are a team effort with Enterprise Singapore.
This partnership boosts customer engagement and inside processes for retailers.
Security agencies will see a lift in operation through the Integrated Security Management solutions.
Made with help from the Ministry of Home Affairs, these use artificial intelligence.
The new platform mixes real-time watching and AI for quick incident response.
It helps in changing old security services.
Take a look at this quick table for a clear overview:
| Advanced Digital Solution | Focus Industry |
|---|---|
| OCRM | Retail |
| ISM | Security |
| Funding Support | Up to 70% coverage |
| Project Duration | One-year pilot |
Ms Jeannie Lim of Enterprise Singapore highlights the impact on retailers.
“OCRM solutions will help retailers navigate these demands and streamlining operations by providing a consolidated view of critical aspects like inventory and customer relationship management,” she mentioned.
Harris Rusdi Chai, from the Ministry of Home Affairs, welcomes the ISM introduction.
“There has been growing interest by the security industry to move towards a more streamlined and integrated model of operations, and the ISM provides a ready solution to do so.” he adds.
As digital horizons grow, IMDA’s quick response ensures Singapore’s SMEs stay at the front of innovation.
Do you think subsidising 70% of digital tool costs is the right way to help Singapore's SMEs stay competitive?
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