DBS Resilience Package

DBS Resilience Package

Take your business online with our
digital solutions and get bonus payouts

DBS Resilience Package

Take your business online with our
digital solutions and get bonus payouts

About Digital Resilience Bonus

The Digital Resilience Bonus (DRB) aims to uplift the digital capabilities of a broad base of enterprises. For a start, DRB will be targeted at the Food Services and Retail sectors which are more affected by safe distancing requirements in the reopening of the economy. SMEs that have PayNow Corporate, E-Invoicing, and use pre-defined digital solutions can receive bonus payouts of up to S$10,000.

DBS Resilience Package
  Step 1
Check if you’ve met the
pre-requisites
Step 2
Sign up for the solutions to get up to S$10,000 payout
Step 3
Start using the solutions
F&B

Ensure you have PayNow Corporate and *PEPPOL based e-invoicing

If you’ve not registered on the PEPPOL network, do so before 31 Dec 2020 to get a one-time payout of S$200 

*Business must be incorporated in SG on or before 25 Mar 2020. Register on PEPPOL through one of our accounting partners listed in Step 2.

Category 1: Get $2,500 payout when you sign up for all solutions listed

Digitise your:

  • Accounting with Financio or Xero 
  • HR/Payroll with Talenox 
  • Ordering for dine in and takeaway with Oddle
You will need to utilise all solutions that you have signed up, at least once a month e.g: you can generate a pay slip using Talenox, generate a report using Financio or Xero and ensure you have at least one transaction with Oddle and FirstCom.

Category 2: Get $2,500 payout when you sign up for all solutions listed

Set up your digital presence or e-procurement with FirstCom Solutions

Category 3: Get $5,000 payout when you sign up for all solutions listed

Coming soon

 

Need additional cashflow support? You can also sign up for a temporary bridging loan to go with your DBS Resilience Package and receive a S$200 rebate when you use promo code DRB. Terms and conditions apply.

About our partners
Accounting

financio logo

Financio is an IRAS compliant cloud-based accounting software that provides real-time reports, automated bookkeeping, bank reconciliation, invoicing-purchasing, cash flow and tax management features. You can also register for PEPPOL E-invoicing through Financio. Enjoy 18-months of free subscription when you sign up using the application form below.

xero logo

Xero is an easy-to-use online accounting software for SMEs and their accountants, with a dedicated office in Singapore to serve customers. Xero is PEPPOL E-invoicing ready, compliant with IRAS tax regulations, and connects to 800+ apps across HR/payroll, inventory, point-of-sale and more to suit your business needs. Get 6-months of free subscription when you sign up for Xero in the application form below.
HR/Payroll
talenox logo Talenox is a user-friendly web-based solution with integration to accounting software to manage payroll and leave. Sign up through DBS and receive S$720 Talenox credits free. 
F&B solutions
fcs logo With FirstCom, you can acquire an e-commerce solution (U.P. S$10,059) within five business days from as low as S$259 (if you qualify for the Productivity Solutions Grant and SkillsFuture Enterprise Credit Scheme). You can also enjoy an exclusive social media package at S$1,500, with one-day content production covering photography and videography and one-month of marketing management on Facebook and Instagram. Sign up using the online application form below.
oddle logo Oddle can help you build online menus with integrated payment gateways and delivery services in three business days. Sign up using the online application form below to enjoy preferential rates exclusive to DBS SME customers who are new to Oddle. Your engagement with Oddle is subject to its approval and terms and conditions you agree with Oddle.
generic

DBS Resilience Package

Contact details

Please fill up the DBS Resilience Package form below. Kindly note all fields are mandatory in order for us to assist with your application.

Choose an Option

I confirm that I have read, fully understood and accept the Terms and Conditions of Start Digital, Terms and Conditions of the DBS Resilience Package and DBS Privacy Policy relating to the collection, processing, use and collection of personal data.

I consent to having my profile created as a DBS BusinessClass member and also confirm I fully understood and accept the Terms and Conditions and Privacy Policy relating to the collection, processing, use and collection of personal data.

FAQs
What is the Digital Resilience Bonus (DRB)?

The Digital Resilience Bonus (DRB) was announced during the Fortitude Budget speech made by Deputy Prime Minister Heng Swee Keat in May 2020. The DRB provides additional support to enterprises seeking to uplift their digital capabilities to adapt to safe management practices after the circuit breaker period. As a pilot, the Bonus will be targeted at the Food Services and Retail sectors. More information on the Digital Resilience Bonus can be found here.

How can a SME receive the Digital Resilience Bonus (DRB) payout and how much can a SME receive?

According to the Infocomm Media Development Authority (IMDA), enterprises incorporated in Singapore on or before 26 May 2020 in the food services and retail industries can receive DRB payouts of up to S$10,000, if they meet the eligibility criteria and requirements of the DRB which includes:

  1. Adopting PayNow Corporate (UEN Proxy only) and InvoiceNow; and 
  2. Adopting the digital solutions in each of the 3 required categories stipulated by the IMDA for the food services or retail industries (as applicable) and utilising each digital solution at least once a month.

The DRB payout for Category 1 (Business Process Solutions) and 2 (Digital Presence) is S$2,500 per enterprise per category, while the DRB payout for Category 3 (Data Mining and Analytics) is S$5,000 per enterprise. Eligible enterprises that fulfil the requirements of all categories will receive S$10,000.

For further information on the eligibility criteria and requirements for the DRB and details of the various categories can be found here.

What are the mandatory criteria to be eligible for the Digital Resilience Bonus (DRB)?

According to the IMDA, before you are eligible for any of the 3 categories of DRB payouts, the mandatory baseline criteria that needs to be met includes the following, your UEN:

  1. needs to fall under the Food Services or Retail sectors as at 26 May 2020:
    1. Generally, food services enterprises include restaurants, cafes, snack bars and food kiosks, bakeries, fast food outlets, food caterers, canteens, food courts, coffee shops and eating houses. For more details, you can refer to the SSIC codes provided by IMDA here.
    2. Generally, retail enterprises include those in footwear, bags, clothing, furniture, jewellery, watches, cosmetics, hardware, pet supplies, toys, books, handphones and computer hardware. For more details, you can refer to the SSIC codes provided by IMDA here.
  2. must be incorporated in Singapore on or before 26 May 2020
  3. must have an active PayNow Corporate (UEN proxy only)
  4. must be registered on the Peppol E-invoicing network.
    You can refer to this link for more information on the Nationwide E-invoicing initiative
Do I need to be a DBS SME banking customer to sign up for the DBS Resilience Package?

Yes, the DBS Resilience Package is available to DBS SME customers only who have a DBS business account.

If you do not have an existing DBS business account, you can open one with us digitally here, and enjoy 6 months account fee waiver, free Start Digital bundle and free 3-months Select+ 365 SME Insurance.

How do I receive Digital Resilience Bonus (DRB) payout into my DBS business account?

According to the IMDA, the first enterprises that adopt the pre-defined solutions will receive their first DRB payouts in August 2020. Those that adopt these solutions later will receive their DRB payouts in later months. IMDA will have a monthly cycle
of assessing enterprises’ eligibility for the DRB and making the DRB payouts. Processing time will take about 1 month, upon the submission of UENs by Providers of Qualified Solutions (or Supporting Banks) to IMDA. For DBS customers under the DBS Resilience
 Package, the payout will be via PayNow Corporate to your DBS Business Account.

In addition, you will need to ensure that your: 

  1. PayNow Corporate is linked to your DBS business account and;
  2. PayNow Corporate proxy is UEN only without any 3-digit alpha-numeric suffix behind

For more information on PayNow Corporate, please click here.

For more information on the eligibility criteria and other requirements of the DRB, please click here.

How can I seek help to understand how to fulfil the eligibility criteria?

If your UEN is incorporated on and before 26 May 2020 and falls under the approved SSIC codes in the Food Services and Retail sector as stipulated by IMDA, please reach out to us by applying for the DBS Resilience Package using the application form here. A DBS representative will reach out to see how we can assist you in this respect.

How has the DBS Resilience Package been designed with the Digital Resilience Bonus (DRB) in mind?

The DBS Resilience Package has been structured to connect your business with various service providers offering digital solutions which fall within the categories of qualifying digital solutions for the DRB, as stipulated by the IMDA.

For more information on IMDA’s classification of the respective categories please click here.

For example, a food services business incorporated in Singapore on or before 26 May 2020 could qualify for the DRB by taking the steps shown below:

Step 1 - To meet the other mandatory baseline criteria and qualify for a DRB payout under Category 2 (Digital Presence):

  1. Register for PayNow Corporate with your UEN and link it to your DBS business account. Click here to access a PayNow Corporate registration guidebook. 
  2. Sign up for Financio or Xero through DBS Start Digital to be Peppol ready
  3. Sign up with FirstCom to establish your digital online presence and have at least one transaction a month. 

Step 2: -To qualify for a DRB payout under Category 1 (Business Process Solutions):

  1. Accounting: Utilise (at least once a month) either Financio or Xero; 
  2. HR/Payroll: Sign up for Talenox and utilise Talenox (at least once a month); and  
  3. Digital Ordering for Dine-in/Takeaway: Sign up for Oddle and utilise Oddle (at least once a month)

Further details on the eligibility criteria and requirements for receiving DRB payouts can be found here.

Take note that we are in the process of rolling out a retail edition of the DBS Resilience Package. This will be announced in the coming weeks.

What if my business is in the retail sector?

DBS is working on the retail edition of the DBS Resilience Package. This will be announced in the coming weeks.

Who are the qualified digital solution service providers under the DBS Resilience Package?
  1. For Accounting & e-invoicing – Financio and Xero
  2. HR and Payroll – Talenox 
  3. Digital Presence for F&B sector – FirstCom
  4. Digital Ordering (Dine-in/Takeaway) – Oddle 
  5. E-commerce (for retail sector) – To be announced in the coming weeks
  6. Inventory management (for retail sector) – To be announced in the coming weeks

We will be adding on more service providers, do check back for more updates.

Take note that we are in the process of rolling out a retail edition of the DBS Resilience Package. This will be announced in the coming weeks.

What if I have taken up Start Digital solutions with another provider or already adopted a digital solution from the list of approved IMDA vendors and platforms?

Please check with your respective service providers on how you can receive your DRB payout.

When does the Digital Resilience Bonus (DRB) end?

According to IMDA, all solutions must be adopted by 30 June 2021. 

Will I be able to get both the S$200 E-Invoicing Registration Grant and the payouts under the Digital Resilience Bonus (DRB) from the IMDA if I take up Financio/Xero?

Yes, you will be eligible for both the S$200 E-Invoicing Registration Grant and the respective DRB payouts provided that you fulfil the requirements for both the E-Invoicing Registration Grant and the respective DRB payouts.  

According to the IMDA, the S$200 e-invoicing grant provides businesses with a one-time payment of $200 per UEN, upon first registration to the E-Invoicing Network on or before 31 December 2020. This grant is applicable for businesses which are valid, active and registered in Singapore on or before 25 March 2020. More information on the E-Invoicing Registration Grant criteria can be found here.