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RPA Adoption
Support Scheme

 

 

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Adopt Robotic Process Automation (RPA) technology for greater productivity and cost savings

The RPA Adoption Support Scheme helps SMPs to adopt baseline RPA technologies, setting them on the path to transform digitally.

In this age of rapid digital adoption, Small and Medium-sized Practices (SMPs) need to digitalise to remain relevant, and explore new revenue opportunities to grow. A simple and cost-effective way for SMPs to digitalise is through Robotic Process Automation (RPA). RPA technology automates repetitive and mundane tasks that are labour-intensive and time-consuming, freeing staff to focus on aspects of their work that will make a difference to their business.

The gains from implementing RPA are huge. For example, the process of confirming Account Receivables, enabled by RPA, can save an SMP 18.5 man-days, or $ 3,500 annually.

The RPA Adoption Support Scheme provides funding for the adoption of baseline RPA technologies in the selection of some or all of these five areas:

  • Audit
  • Accounting
  • Taxation
  • Corporate Secretarial Services
  • Human Resources and Administration

Singapore’s local Polytechnics will help the SMPs to implement the RPA scripts and train their staff.

To get started on this scheme, at least two employees need to attend the ISCA RPA course for Auditors. More details on the course can be found under the ELIGIBLE SMPS tab below.

ELIGIBLE AREAS

 

SMPs may select some or all of these five areas for the implementation of RPA.

Areas Eligible for RPA implementation
1

Audit

  • Preparation of confirmations – bank, accounts receivable, accounts payable, and intercompany 
2

Corporate Secretarial

  • Preparation of corporate secretarial related email template
  • Preparation of AGM materials
3

Taxation

  • Preparation of tax related email templates
4

Accounting

  • Conversion of trial balance to financial statement
  • Casting financial statement
  • Balancing financial statement
5

Human Resource & Administration

  • Preparation of HR & Admin related email templates

RPA IMPLEMENTATION AND TRAINING

 

Lecturers and students from the following local Polytechnics will be assigned to SMPs to help them implement RPA technology, and train their staff in the operations and maintenance of the RPA scripts.

  • Nanyang Polytechnic (School of Business Management)
  • Ngee Ann Polytechnic (School of Business & Accountancy)
  • Singapore Polytechnic (School of Business)
  • Temasek Polytechnic (School of Business)

FUNDING SUPPORT

 

SMPs will receive funding support as follows:

RPA Implementation Funding support of 50% of the total qualifying cost, capped at $ 2,500 per SMP.

 

Why is there a drop in the support level of the RPA Adoption Support Scheme from 1 April 2024?

  • The RPA Adoption Support Scheme was launched in June 2021 at a maximum support level of 70% for a limited period to encourage companies to press on with transformation despite immediate challenges such as COVID-19 then.  As we move towards living endemically with COVID-19, this enhanced support level will expire, and the RPA Adoption Support Scheme will continue at a more financially sustainable level of up to 50% from 1 April 2024. 
  • More broadly, the Government's support schemes focus on helping companies that are prepared to take steps to restructure their businesses and raise their productivity.  These are longer-term investments, for which companies should be equally invested as the Government in building capabilities. 
  • Nonetheless, should there be exceptionally challenging circumstances in the future, the Government will relook our support for businesses and consider re-introducing enhanced support. 

ELIGIBLE SMPS

 

SMPs which fulfil the following criteria are eligible for the scheme:

  • Primary or Secondary SSIC code starting with 692
  • Group annual sales turnover of not more than S$ 100 million; or group employment size of not more than 200 workers
  • At least 30% local shareholding
  • Litigation-free
  • Not applied, obtained or will be obtaining any other tax/financial incentives for the proposed project
  • Two employees, with at least one in management role, who have attended the ISCA RPA course in the last one year. Register here.

APPLICATION PROCESS

 

Three steps to apply for the scheme:

1.  Submit the Grant Application Form and supporting documents to Betsy_LOO@acra.gov.sg for review.

2.  Once approved, the applicant will receive a Letter of Offer (LOO) from ACRA. Applicant is to sign and return (email) to ACRA the signed Letter Of Acceptance (LOA) within 14 working days. 

3.  Applicant may sign contract/commence project with the assigned consultant only after acceptance of the LOO.

CLAIM PROCESS

 

Having paid the full cost of the project to the assigned consultant and completion of the project, the SMP can claim the grant by submitting the Grant Claim Form and Project Report together with supporting documents to Betsy_LOO@acra.gov.sg.

ENQURIES

 

Should you have any enquiries, please email Betsy_LOO@acra.gov.sg.