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Productivity Solutions Grant

What is the Productivity Solutions Grant (PSG)?

Introduced in 2018, the Productivity Solutions Grant (PSG) is a government initiative designed to help Singaporean businesses embrace digital transformation by adopting technology-driven solutions. The grant provides financial support for businesses to purchase essential tools such as business-critical equipment, pre-approved IT solutions, and consultancy services, enhancing their operational efficiency. As a PSG pre-approved vendor, Acsolv Consult offers comprehensive ERP solutions like Sage 300, helping businesses optimise their processes. Whether you’re looking for PSG ERP solutions or PSG grant accounting software, Acsolv Consult is here to help you navigate the process.

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5 Steps to Apply for the PSG Grant

Applying for the Productivity Solutions Grant (PSG) can be straightforward when you follow these five steps:

  1. Assess Your Business Needs
    Identify the operational challenges your business faces and determine how a PSG ERP system can address these issues to improve productivity.
  2. Check PSG Eligibility
    Ensure your business meets the PSG grant criteria, such as being registered in Singapore and meeting the required local shareholding and employee limits.
  3. Choose a Pre-approved Vendor and Get a Quotation
    Partner with a PSG pre-approved vendor like Acsolv Consult to receive a tailored quotation for PSG grant accounting software. This step ensures compliance with grant requirements.
  4. Submit Your Application on the Business Grants Portal (BGP)
    Log in to the BGP and provide all necessary documentation, including the vendor quotation and business details, to apply for the grant.
  5. Implement the Solution and Claim the Grant
    Once your application is approved, implement the PSG ERP solution and submit the required claims through the portal to receive funding support.

Applying for the PSG ERP Package for Sage 300

To apply for the PSG ERP package, follow these simple steps:

  1. Identify Relevant Solutions:

    Assess your business needs to find suitable PSG ERP solutions. Visit the GoBusiness Gov Assist website for a list of pre-approved solutions. For IT solutions, like Sage 300, request a quotation from a PSG pre-approved vendor.

  2. Get Quotations:

    Once you’ve identified relevant solutions, request quotations from the respective vendors. Be sure to work with PSG pre-approved vendors like Acsolv for IT solutions or consultancy services, and gather necessary equipment quotations.

  3. Submit the Application:

    Submit your completed application through the Business Grants Portal (BGP). Applications can be submitted anytime throughout the year, giving your business flexibility in applying for the PSG grant accounting software when it’s most convenient.

Who Can Apply For The PSG Grant?

To qualify for the PSG grant, businesses must meet the following eligibility criteria:

  • Be a registered business operating in Singapore.
  • Use the subscribed service, solution, or equipment within Singapore.
  • Hold at least 30% local equity, either directly or indirectly, by Singapore Citizens or Permanent Residents.
  • The company’s group annual sales must be less than S$100 million, or the total employment size of the company and related entities must be fewer than 200 employees

If your business meets these criteria, you can apply for PSG ERP solutions to improve your operations.

Benefits of Applying for the PSG Grant

Choosing the PSG ERP solutions offered by Acsolv Consult comes with several benefits:

  • Financial Assistance: Receive up to 50% funding support to help implement PSG grant accounting software like Sage 300, reducing upfront costs.
  • Streamlined Processes: Our PSG ERP system helps improve efficiency, automate tasks, and boost overall productivity.
  • Guidance from a PSG Pre-Approved Vendor: As a PSG pre-approved vendor, Acsolv Consult ensures a seamless application and grant disbursement process.
  • Increased Competitiveness: With cutting-edge ERP solutions, your business can stay competitive by reducing operational inefficiencies.

Why Choose Acsolv?

As a PSG pre-approved vendor, Acsolv Consult simplifies the PSG grant application process for businesses. Our trusted Sage 300 ERP system, coupled with up to 50% funding support from the PSG, empowers companies to streamline their accounting and financial management. We offer a reliable, scalable solution to enhance your business’s operational capabilities, helping you avoid cost overruns and downtime. Choose Acsolv for a trusted, cost-effective ERP implementation.

Kickstart Your PSG Application Today With Acsolv

As a PSG pre-approved vendor, Acsolv Consult provides comprehensive guidance throughout the grant application and claims process. Here’s how we assist:

Step-by-Step Guide:

We simplify the application journey for businesses by offering a detailed guide tailored to the PSG process. Starting with an eligibility check, we ensure all criteria are met before proceeding. Next, we guide you through the Business Grants Portal (BGP) submission, ensuring each step is handled accurately. Typically, the entire application process takes between 4 to 6 weeks, depending on the completeness of the application and document submission.

Document Checklist:

Our team provides a complete list of required documents, such as:
• ACRA business profile
• Audited financial statements or management accounts for the past financial year
• Quotation from Acsolv for pre-approved solutions (placeholder: specify solution name)
• Proof of implementation (for claims submission)
We ensure all paperwork is in order, avoiding delays during the approval process.

Claims Process Assistance:

Once your grant application is approved, we guide you in submitting claims through the BGP. This includes verifying implementation milestones, providing required supporting documents, and ensuring compliance with Enterprise Singapore's guidelines. The claim disbursement process usually takes 1 to 2 months, provided all documentation is accurate and complete.

Types of PSG Solutions

Sector-Specific Solutions

Tailored solutions for industries such as retail, construction, logistics, and food services. These PSG ERP solutions help businesses in these sectors operate more efficiently.

Generic Solutions:

Broad solutions designed to enhance productivity across different sectors. These include accounting software, customer management systems, and inventory management tools, like the Sage 300 ERP offered by Acsolv Consult.

Up to 50% PSG Grant with Acsolv – Pre-Approved Vendor

Acsolv Consult is proud to be a PSG pre-approved vendor for implementing Sage 300cloud software. This designation highlights our commitment to delivering innovative solutions that align with Enterprise Singapore’s vision for business productivity enhancement.

Eligible businesses can receive up to 50% funding support for implementing pre-approved digital solutions like Sage 300cloud. This financial assistance is aimed at reducing upfront costs, enabling SMEs to adopt advanced technologies and achieve sustainable growth.

FAQ

The PSG grant accounting software can help streamline your business’s financial processes. This reduces manual work and minimises human error. Pre-approved digital solutions under the PSG, enable your business to manage invoices, reports, and transactions efficiently.

Additionally, with PSG funding support, you can offset a portion of the implementation costs. This gives you the freedom to upgrade to cutting-edge software while keeping expenses low.

Applying for the PSG grant accounting software is a straightforward process. Simply contact us to request a quotation. We’ll share with you the details of the process and implement the software for you. After which, you may log in to the Business Grants Portal to submit an application. 

There is no specific deadline to apply for the PSG grant accounting software. However, the service must conclude by a certain date and the application must be submitted within a stipulated time period for successful claims.

No, the Productivity Solutions Grant (PSG) itself is not taxable. However, any benefits received from the grant, such as the subsidy provided for the purchase of the PSG grant accounting software, may need to be accounted for in your financial reporting.

The PSG is available to Singapore-registered Small and Medium Enterprises (SMEs). To be eligible for the PSG grant accounting software, your business must meet the following criteria:

  • Be registered and operating in Singapore
  • Have at least 30% local shareholding
  • Your annual sales turnover should not exceed S$100 million, or you should not have more than 200 employees
  • The purchased solution must be used in Singapore

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