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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
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BIF
• Introduction of newly enhanced scheme (for all tourism stakeholders)
• Framework for BIF
• Examples of successful applications
Business Improvement Fund (BIF)
AGENDA
Before…
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Tourism Technology Fund (TTF)
Technology Adoption Enhanced Business Improvement Fund
(BIF) Capability Development
Business Improvement Fund (BIF)
Process Innovation
Business Improvement Fund (BIF)
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.
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Business Improvement Fund (BIF)
OBJECTIVE
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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.
Business Improvement Fund (BIF)
WHO CAN APPLY?
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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.
Business Improvement Fund (BIF)
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.
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BIF Branding & Marketing
Service Excellence
Financial Management
Human Resource
Product Development
Business Process
Redesign
Business Improvement Fund (BIF)
QUALIFYING ACTIVITIES
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• 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
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Business Improvement Fund (BIF)
EXAMPLES OF QUALIFYING ACTIVITIES
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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
Business Improvement Fund (BIF)
QUALIFYING COSTS
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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
Business Improvement Fund (BIF)
QUALIFYING COSTS
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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
Business Improvement Fund (BIF)
EXPECTED PRODUCTIVITY OUTCOMES
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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
Business Improvement Fund (BIF)
EXAMPLES OF SUCCESSFUL APPLICATIONS
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BIF Plus
• New sub-scheme (for all hotels industry stakeholders)
• Framework for BIF Plus
Business Improvement Fund (BIF) Plus
AGENDA
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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
Business Improvement Fund (BIF) Plus
6 FOCUS AREAS For Hotels Industry
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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
Business Improvement Fund (BIF) Plus
SCHEME DETAILS For Hotels Industry
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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.
Business Improvement Fund (BIF) Plus
SCHEME DETAILS For Hotels Industry
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• 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.
Business Improvement Fund (BIF) Plus
WHO CAN APPLY For Hotels Industry