Productivity Solution Grants is also known by the name as PSG who will be supporting many companies who are interested to adopt IT solutions along with its different equipments in order to expand or increase their business. PSG for Xero will help the companies in keeping their track in the areas of customer management along with data analytics and financial management. It will also help in keeping the track on the inventories. It has been done in order to encourage the enterprise in the field of digitalization and efforts in productivity improvement.
Eligibility Criteria for Productivity Solution Grants
The applicant should meet the following eligibility in order to move PSG through business grant portal.
- The applicant should be having registered business in Singapore.
- He should have 30% share in local shareholding
- He should have turnover of less than $100 millions’
- Company should have use or purchase the equipment in Singapore.
Documents required by the Company for PSG
- Purchase order of the company which should be properly signed.
- A proper invoice of the company
- Bank statement of the company which indicates that your business has made payment to the vendor who has pre approved in nature.
- Company should have license number of IT solutions along with 1 month report of usage.
- Company should have screen shots which displays the business name along with IT solution name.
- Receipt or cheque payment copy of the IT Solution.
The PSG will cover down the IT solutions that will provide functions in different sectors. It will cover down
How companies can take apply for PSG with Xero?
Step 1- Companies who want to avail the benefits of this software will have to get the facility of quotes from the pre approved vendor for Xero.
Step 2– After that company can submit the application to the BGP where companies can login with their corporate account to do the transactions.
Step 3 – Application should be processed within 4 to 6 weeks from the submission of required documents. Companies or customers will be receiving the letter for approval of application along with subsidy amount.
Step 4- It is necessary for the companies to confirm along with signing the quotation with Cloud accounting.
Step 5- Claim is also submitted by them where they will receive the reimbursement from the government in 2 months time.
Thus the Productivity Solutions Grant (PSG) supports companies to increase business processes. Timcole is one of the PSG vendors in Singapore.
PSG covers the main areas of retail along with food and logistic. It helps in tracking the areas of customer management along with financial management. In simple words it supports IT solutions where they customers can avail the main benefits of using clod based system of accounting. It will help them in doing their transactions from anytime and anywhere. You will also get the entire details about the transactions along with receipts that will help the company in keeping the record of the previous transactions.