How Enterprise Development Grant (EDG) Can Supercharge Singaporean Companies During Recession? Now more than ever, companies that foster are the ones that have well-connected teams, powerful business strategies, think innovatively, adapt the latest technology and reach the audience globally. This is where Enterprise Development Grant (EDG) comes to the rescue, a program offered by Enterprise Singapore (ES) to support companies in the journey of becoming successful. The EDG provides all-inclusive support to businesses who wish to thrive, innovate, venture overseas, or are set to go on board on any combination of these tactics. Since unprecedented coronavirus pandemic has adversely affected many sectors, recently, the maximum support level of EDG has been increased by up to 90% which means Singaporean SMEs can gain up to 90% government grants to meet the expenses of qualifying projects. Still, wondering what exactly is Enterprise Development Grant (EDG)? How it can assist with companies’ expansion? Read on to attain a clear understanding. What is the Enterprise Development Grant (EDG)? The Enterprise Development Grant (EDG) is a program managed by Enterprise Singapore (ES) to help Small and Medium Enterprises (SMEs) in Singapore to create a strong business foundation, use advanced practices, and boost productivity, by offering them financial grants. It is created by combining two previous grants i.e. the Capability Development Grant (CDG) and the Global Company Partnership (GCP). The original EDG defrays up to 30% to 70% of qualifying project expenses, vary depending on whether it is a Small Medium Enterprise (SME) or finances are required for software and equipment. However, to lessen the negative impact on companies due to the COVID-19 outbreak, the Enterprise Singapore (ES) has announced that the subsidy will meet up to 80% of the costs depending on cases that will remain valid until December 31, 2020. And those companies who have shattered by the novel coronavirus will qualify for 90% grant support. The Three Core Pillars of Enterprise Development Grant (EDG) The grant gives optimum support to projects that help companies to strengthen their business foundations and improve efficiency under the three pillars, that include: 1. Core Capabilities Project under the category of Core Capabilities support companies for increased growth by strengthening and stabilising their business foundations. The projects basically involve: Business Strategy Development Building a new set of business strategies that bring better opportunities and give a competitive edge over others. Enhance research and development activities. Improve management systems with the Business Excellence Framework to obtain the ‘Singapore Quality Class’ certification. Financial Management  The purpose here is to analyse companies’ financial stability to facilitate corporate growth and prepare their management teams with the necessary skills. The projects include: Developing proven strategies to drive profitable investments. Risk exposure evaluation and use of risk management procedure. Human Capital Development  The aim here is to improve Human Resource (HR) capabilities of companies to make the best out of business expansion tactics. The projects include: Reshaping Human Resource (HR) management. Offering compensation and benefits. Assisting with the skill development of the workforce. Service Excellence The objective here is to enhance the delivery services of companies by attaining a clear knowledge of consumers’ needs, behaviour, and decision-making procedures. The projects include: Evaluation of customers’ requirements and decision-making strategies. Applying genuine service delivery tactics to enhance the customer experience. Strategic Brand and Marketing Development It serves the purpose of helping companies to attract the potential target audience and various markets more effectively by distinguishing between brands, products/ or services. The projects cover: Development of impeccable brand strategies focused on a unique selling perspective to reach customers. Advancement of business marketing and communication plans. 2. Innovation and Productivity Projects under the category of Innovation and Production allow companies to discover diverse areas of expansion or seek strategies to boost efficiency. This can cover examination and reshaping workflows and procedures. Companies can also use automation and technology to ease their everyday tasks. The projects involve: Automation Companies can opt for automation tools like ERP software to simplify their business processes, create daily operations more productive, and attain real-time insights into their businesses with a constant focus on growth. Process Redesign Before taking advantage of automation, companies are advised to optimise their existing business procedures and determine certain areas to enhance productivity. Product Development Companies are motivated to innovate and renovate themselves to develop efficient products for commercial usage. 3. Market Access Projects under the category of Market Access support Singapore companies that are willing and prepared to expand overseas. In such cases, companies can utilise Enterprise Development Grant (EDG) to help cover some of the costs of thriving into overseas markets. The projects involve: Mergers and Acquisitions (M&A) This may be in the planning, assessment of potential mergers and/or acquisition or post-M&A staThis covers planning, evaluation of possible mergers and acquisitions, or post-M&A stage integration. Overseas Marketing Presence (OMP) The main is to support companies to grow into new markets by establishing a presence overseas to begin marketing and business development operations. Pilot Project and Test Bedding The goal is to support companies to grow into new geographical or product markets by setting their track records. Standards Adoption The purpose is to support companies to adopt internationally-claimed standards and certifications in respected industries, as well as new and developing sectors. How EDG is Different from CDG and GCP? Previously, the Capability Development Grant (CDG) offered by SPRING Singapore was designed to support companies in capability development. On the other hand, the Global Company Partnership (GCP) grant offered by International Enterprise Singapore (IE) was established to help companies reach overseas. The Enterprise Development Grant (EDG) is a single grant that offers complete help to companies who want to upgrade, strengthen their goals, and venture overseas. As we have discussed, the supported projects meet a wide scope under three main pillars – Core Capabilities, Innovation and Productivity, and Market Access. Who is Eligible to Apply for the EDG? Companies with the strong financial background are certainly eligible to apply for the Enterprise Development Grant (EDG), however, they are required to meet

The Malaysia Digital Economy Corporation (MDEC) announced the Smart Automation Grant (SAG) under Pelan Jana Semula Ekonomi Negara (PENJANA) initiative, which is primarily intended to support companies in order to make a digital jump and to recover from the impact of unprecedented coronavirus pandemic. This way, Small and Medium Enterprises (SMEs) can leap into the digital path and grow their digital capabilities to contribute more to the innovation and economy. According to IDC’s infographic, SMBs with legacy systems need to realise the peace of mind cloud Enterprise Resource Planning (ERP) offers and start planning to embrace digital transformation. Since SAG will be used solely to develop and implement a project that increases the adoption of technologies to automate business tasks, acquiring advanced ERP solution could be a feasible option to manage your company’s data and processes under a single database, no matter wherever you are. WHAT IS THE SAG? SAG stands for Smart Automation Grant, a plan of PENJANA which is a specific matching grant for services companies that will allow them to automate their business processes and step ahead in the sphere of digitalisation. Under this grant, each successful application will get up to 50% of the total project cost, pertaining to a ceiling limit up to RM200,000 or, whichever is the lowest. This matching grant currently focuses on the service industry, including transportation, retail, wholesale, food and beverages, logistics, healthcare, real estate, financial services, and much more. It is aimed at assisting services companies embarking on automation to accomplish an increase in revenue, reduction of the process time cycle, reduce human errors, significant savings in business cost, and bring new opportunities for growth. To be eligible for SAG, the companies must meet the following criteria: Incorporated in Malaysia under the Companies Act 1965 and the Companies Act 2016. Have an issued and paid-up capital of at least RM50,000. Have a minimum of 51% equity held by Malaysian(s). Should not be a subject of liquidation, winding up or bankruptcy order. Have no ongoing issue or dormant. Have entered into a written contract or committed plan with the technology partner for the expansion and execution of the project. If received any MDEC/government grant in the past, the applicant needs to demonstrate the completion and success of the funded project(s). How SMEs can Shift to Digital Transformation through Acumatica ERP Software? Many Small and Medium Enterprises (SMEs) still uses an on-premise system which lacks in terms of flexibility, performance, and functionality. Such systems require manual input and experience complications in synchronising data. SMBs can use the Acumatica ERP system to embrace digital transformation and increase their chances of success. Acumatica ERP software is designed on a cloud-based solution that allows users to control and monitor business information smoothly and effectively from anywhere, anytime. A highly functional ERP system allow users to manage all facets of business such as accounting, production runs, distribution, finance, inventory management, projects, scheduling, order modifications, and so on. It eradicates extensive paperwork and seamlessly provides updates regarding sales, services, orders, and other areas with visibility into your requisition process. Acumatica Cloud ERP can drive valuable customer relations and growth in a range of industries such as manufacturing, service industries, construction, retail and e-commerce, distribution, and more. With high flexibility, regular product updates, and multiple data storage locations, companies can manage workflows seamlessly and give the best shot at success. Is it a Viable Option to Use SAG for Acumatica ERP Software Purchase?Businesses and communities looking for reliable support within the digital space should take PENJANA SAG as an opportunity and purchase the Acumatica ERP system to deliver data across organisation and manage workflows automatically. Irrespective of the background and nature of the business, everyone can be a leading part of the digital ecosystem through an ERP solution and can recover from complex business situations. It gives an intelligent core to connect both internal and external resources under a single database to thrive in the digital era. This will give your business a much-needed boost to regain lifestyle, excel at the present, and look confidently to the future.

Acumatica released 2020 R1 in late March, revealed a multitude of new product features such as improvement in the usability, introduce power-packed new modules, best-in-class functionality, cross-connected processes, and codeless customisation. “2020 R1 is a significant product release,” said Jon Roskill, CEO, Acumatica. “We have to pause sometimes and marvel at the pace of innovation consistently delivered by our product team. Acumatica customers and partners keep clamouring for more and they get it, twice a year, with real quality.” Acumatica 2020 R1 put some light on the fact that the company is highly dedicated to developing new technologies into Acumatica product while focusing on superior user experience. The version is built on a future-centric platform with an open architecture for fast integrations, scalability, and ease of use, delivering unmatched value to small and medium-sized enterprises (SMEs). Exciting New Features in Acumatica 2020 R1 1. All-New Experience with Superior UsabilityUses Artificial Intelligence (AI) and machine learning to streamline user experience: Utilise mobile camera to make expense receipts quickly Give access to data entry screens fast with a quick add button New mobile capabilities: Record travel and break time while on service calls Enables to attach images directly to data records Ease of Reporting: Enhance performance with dashboard caching settings Give pivot table percentages calculations and individual counts 2. Eradicate Business Silos with Brand-New Native ModulesThe company understands the real complications of running a business on dissimilar systems. This is why, the experts strive to deliver robust, new native modules in 2020 R1 to allow running the whole business on one system. Take over markets with Omnichannel Commerce: Ecommerce powered business management through BigCommerce integration Allows users to automate B2B and B2C with omnichannel sales and implementation with unified back-end accounting Reduce overhead expenses and keep employees satisfied with in-house payroll: Decrease overhead expenses with Acumatica Payroll 3. Faster Growth with Best-in-Class FunctionalityIn 2020 R1, you will discover new features and enhancements in all industry editions. Acumatica ERP is designed for mid-market business expansion and offers best-in-class functionality by integrating core functions into a single business-wide software suite. Key Features for Distribution CompaniesIncrease sales and speed warehouse operations: Matrix inventory generates, tracks, and handle related products quickly. WMS involve wave and batch picking for faster implementation Key Features for Manufacturing CompaniesEnhance manufacturing operations: Monitor production and costs with native shop floor data collection Advanced planning features capable-to-promise and what-if situations Key Features for Construction CompaniesHandle more construction projects with enhanced project management tools: Streamlined project balance reconciliation Monitor project development with enhanced daily field reports including weather and photo logs Manage payments and retainage by lines in AR Key Features for International Companies International depreciation improvements support worldwide expansion 4. Tailored to your Business without Writing CodeUse online tools to create reports, alter workflows, add user-defined fields, and more without writing any code. Features include: Fast and easy data imports Modify tab orders and visibility Dynamically present field valid values Automate business workflows with a powerful, new workflow engine for CRM Add side panels to data screens to speed data entry 5. Boost Businesses with Cross-Connected WorkflowsWith the Acumatica cloud-based ERP solution, you can build end-to-end workflows, enhance productivity, and eventually strengthen your business. Features include: Enhanced lead qualification and contact management links sales with production Improved project billing based on field service activities How We Can Help?Following the recent announcements and capabilities of 2020 R1, at Netsense, we strive to explore emerging technologies and put all-in-one Acumatica ERP system to the front that ensures to drive operational efficiency and automation in your organisation. We assure you that our enterprise management solution will definitely transform the way you operate and help you thrive in a new digital world. If you’d like to discover Acumatica ERP capabilities on your own, schedule a demonstration with us today and make a smart decision to accomplish ultimate success. Don’t hesitate to contact us.

Our latest release, Acumatica 2019 R1, provides comprehensive product enhancements. Users will experience improvements to our financial management software, inventory management software, project accounting, and field service management software. Every application module of Acumatica’s cloud ERP solution has been enhanced in some way in Acumatica 2019 R1. Today, we’ll provide examples of the improvements in this new release, which were also presented at Acumatica Summit 2019 in Houston. For current customers and partners, the full set of Release Notes are available on the Acumatica Portal and a full recap of the Summit is posted. Improving application functionality and cross-connected workflows During Day Two of Acumatica Summit 2019, Acumatica CEO Jon Roskill said, “We love technology, but it’s not technology for technology’s sake. It’s technology and how we can apply it to very pragmatic problems in the real world.” This is apparent when you look at the improved functionality and cross-connected workflows that Acumatica 2019 R1 brings to the table. Below are some of these specific improvements broken down by module: Financial management Predefined list of currencies: Acumatica cloud ERP now provides a predefined list of all currencies included in the ISO 4217 standard. Financial management software users no longer need to manually enter the world currencies and their basic settings. Different Start Periods for Companies in the same tenant: Companies using Financial Management and having multiple legal entities within the same tenant can now have different fiscal year-end dates. With this functionality, an organization can accelerate implementation; simplify maintenance for companies that share vendors, stock items, and employees; run consolidated operational reports at any time; and facilitate the preparation of consolidated financial statements. Order management and Inventory Automated Warehouse Operations (WMS): Clients with medium or large warehouses typically use external inventory management software or WMS (warehouse management system) solutions for supporting standard warehouse operations with inventory items, such as picking, packaging, PO receiving, putting away, transferring, and physical counting by using barcode scanners (or mobile devices with a scanning option). Ship-to info: Multiple shipments or orders with different addresses are included in the Sales Order invoice. Project Accounting Multi-currency project accounting: Users can enter project transactions in different currencies and maintain projects in both the base currency and the project currency. With multi-currency project accounting, project managers and accountants can review actual revenues, actual costs, and committed costs in the project currency, with an ability to calculate project profitability in both the project currency and the base currency, and present costs to the customer in the customer’s currency. Project budget forecast by period: Enter and modify project budget forecasts and compare these forecasts with the actual project costs and incomes for each financial period. Users can forecast original and revised budget amounts and quantities for existing project budget lines for financial periods of the master calendar. Each project can have multiple budget forecast revisions. In a forecast revision, a user can distribute amounts and quantities of the project budget among the selected range of financial periods to speed data entry. By using forecast data, users can create generic inquiries and pivot tables. Company-Specific Financial Periods in Project Accounting: Companies using project accounting within the same tenant can have different fiscal year-end dates with this functionality. This is important for companies that share vendors, stock items, and employees. The company-specific periods are defined at the branch level. Field Services                            Calendar boards: With field service management software, customize the calendar board by rotating the members vs time axis. Users can change the time range to show schedules for one week or one month. The user now can also reassign an appointment from one staff member to another on a different date, viewing the agenda for a group of staff members on a particular week or month, or viewing the availability of rooms on a particular week or month. Location Tracking: Using mobile device of the service personnel, the GPS location of any location can be tracked. Generate Invoice: From the Field Service application, the service personnel can now directly generate an invoice from a service order or an appointment. Consistently improving platform usability Our applications continue to grow in functionality, are designed to transparently work together across module boundaries, and are easy to use because of our xRP platform. In every release, we improve the underlying system to improve our customers’ experience. Following are the enhancements Acumatica 2019 R1 brought to Acumatica’s cloud ERP platform. Custom color for User Interface: Ability to personalize the primary color of the company’s user interface. In addition, for multi-company or multi-branches, a different color can be specified for branch to make it easier for employees to distinguish these branches. Highlighting results in Inquiries: An option to highlight rows or columns of a generic inquiry based on conditions has been introduced. Base on the condition or formula, the system will highlight certain elements of a generic inquiry. For example, when inquiring on “opportunities”, the resulting grid can show those opportunities that have been won in green, those that have no owner can be yellow, and opportunities that are late can be red. Generic Inquiry Side Panel: The user can view the details of a row on the inquiry screen in the side panel. For sales orders, for instance, this could be the customer’s company information. Changes to the data can be made in the side panel and the information displayed can be data or dashboard graphics. In addition, fhe following improvements have been made to the side panel of generic inquiries: ability to resize the side panel and the new size saved automatically, a button has been added to maximize or minimize this panel, and side panel elements have been optimized to use window space more effectively. Improved help search via ML: In this release, Acumatica is using Machine Learning (ML) in the HELP text. Based on how effective the response to a natural language search has been, the system knows if it is serving up the correct results and adjusts. Link existing files to Acumatica entities: The ability to easily add links to the attachments that already exist in the system has been introduced. The user can add a link to the stored files right from the form