business improvement fund (bif) @ tic 2015 2015 - bif.pdf · @ tic 2015 7 april 2015 . restricted...

Business Improvement Fund (BIF) @ TIC 2015

7 April 2015

Restricted The slides are property of STB and shall not be reproduced and/or redistributed without permission from STB.

2

BIF

• Introduction of newly enhanced scheme (for all tourism stakeholders)

• Framework for BIF

• Examples of successful applications

BIF Plus

• New sub-scheme (for all hotels industry stakeholders)

• Framework for BIF Plus

Business Improvement Fund (BIF)

AGENDA


3

BIF

• Introduction of newly enhanced scheme (for all tourism stakeholders)

• Framework for BIF

• Examples of successful applications


AGENDA

Before…


4

Tourism Technology Fund (TTF)

Technology Adoption Enhanced Business Improvement Fund

(BIF) Capability Development


Process Innovation


OVERVIEW With Effect From Today…

Encourage technology innovation and adoption, redesign of business model and processes in the tourism sector to improve productivity, competitiveness and enhanced consumer experience.


5


OBJECTIVE


6

Singapore-registered businesses or companies with a clear tourism focus in its Singapore operations.

Singapore-registered technology companies that create innovative technology products and services for tourism businesses.


WHO CAN APPLY?


7

Local Small Medium Enterprises (SMEs)1: Up to 70% of qualifying costs

Non-SMEs: Up to 50% of qualifying costs

Funding support is awarded based on STB's evaluation of the scope and merits of the project.


LEVEL OF SUPPORT

1 At least 30% local (Singaporean or Singapore Permanent Resident) shareholding, and group annual sales turnover of not more than S$100 million or group employment of not more than 200 employees; consistent with SPRING Singapore.


8

BIF Branding & Marketing

Service Excellence

Financial Management

Human Resource

Product Development

Business Process

Redesign


QUALIFYING ACTIVITIES

9

• Develop branding/marketing roadmap and strategy, branding/marketing consultancy studies, conduct brand audit, develop a marketing plan, etc.

Branding & Marketing

• Enhance service experience and customer satisfaction through customer research and analytics, CRM systems, service blueprints and standards development, mystery audits, etc.

Service Excellence

• Develop financial framework, develop measures and controls to meet financial challenges and achieve financial objectives, implement corporate financial systems and processes to enhance financial resilience, etc.

Financial Management

• Deploy HR management and development processes and best practices in areas such as manpower planning, recruitment and selection, compensation and benefits, learning & development, performance planning, etc.

Human Resource

• Develop conference mobile app, self-service check-in/-out, robotics technology, etc. Product

Development

• Implement of RFID technology for inventory management, supply chain management software, consultancy to streamline processes and enhance workflow, etc.

Business Process Redesign



EXAMPLES OF QUALIFYING ACTIVITIES


10

Professional Services

• Consultancy, subcontracting, creative design, etc. payable to a third-party company that is not a subsidiary, parent or associate of the applicant company

Testing and Certification

• Cost associated with the delivery of products, processes and services meeting the desired standards

Internal Manpower

• For applicant company’s personnel directly involved in the project


QUALIFYING COSTS


11

Hardware, Software, Materials & Consumables

• Supported technology must be kept throughout its useful life

• Materials and consumables used in the fabrication of prototypes

• Not supported: Off-the-shelf packaged solutions, maintenance cost, operating systems

Training

• Training is an intrinsic component of the project

3rd Party Audit and Outcome Studies

• Project expenditure audit, survey and studies related to project outcomes


QUALIFYING COSTS


12

Projects should achieve any one of the following productivity outcomes:

Manhours savings (e.g. reduction in staff, increase in output/staff)

Value add of company

Incremental costs savings

Increase in topline and bottomline


EXPECTED PRODUCTIVITY OUTCOMES


13

New Shan Travel Service’s Agent Desktop Technology and Operations Optimisation

• Adoption of the Agent Desktop Technology and Operations Optimisation system that allowed for an integrated travel management system to better manage the wholesale, corporate, retail and tour businesses

• Expects increase in profit margins and reduction in manhours

Hotel Jen Orchardgateway’s RFID Inventory Management and Tracking System

• Implementation of RFID barcode-based inventory management and tracking system

• Expects reduction in manhours and human error involved in physical stock-taking

Other projects supported to-date:

• Implementation of HR management system, CRM system, other inventory management system, and development of conference meeting mobile applications


EXAMPLES OF SUCCESSFUL APPLICATIONS


14

BIF Plus

• New sub-scheme (for all hotels industry stakeholders)

• Framework for BIF Plus

Business Improvement Fund (BIF) Plus

AGENDA


15

BIF Plus

RFID Inventory Management

Solutions

E-learning Solutions

Housekeeping Automation

Solutions

Workforce Management

Solutions

Data Analytics Solutions

New Emerging Technology

Enable hotels to improve efficiency in HR processes, e.g. automated scheduling

of staff roster

Increase robustness in business performance tracking and

management and enable hotels to make data-driven business decisions.

E.g. Mobile payment solutions, self-service

check-in/-out, robotics


6 FOCUS AREAS For Hotels Industry


16

Objective

To encourage wider adoption of productivity initiatives by hotels industry and development of productivity technologies for hotels industry.

Eligible Applicants

(1) Singapore-registered hotels

(2) Singapore-registered technology developers


SCHEME DETAILS For Hotels Industry


17

Level of Support

Successful applicants will receive funding support of up to 70% of qualifying costs, subject to the scope of the project and STB’s evaluation of the tourism merits of the project.

Application Period

Limited Time Period of 1 Year – From 1 Apr 2015 to 31 Mar 2016

All projects are to be committed by 31 Mar 2016.


SCHEME DETAILS For Hotels Industry


18

• For more information, interested applicants can approach your STB contacts or email STB at [email protected].

• Project should not commence prior to STB's offer of the grant. Applicants are encouraged to contact STB at least 6 weeks in advance of project commencement.


WHO CAN APPLY For Hotels Industry

mailto:[email protected]


19

Thank you!

Questions?

business improvement fund (bif) @ tic 2015 2015 - bif.pdf · @ tic 2015 7 april 2015 . restricted...

Documents