The Info-Communications Development Authority (IMDA) has listed Venuerific as one of the ICM-Pre-Approved Vendor. Potential venues subscribing to Venuerific can now get up to 80% support fund under the Productivity Solutions Grant (PSG).
The appointment comes after passing six progressive stages including technology demonstration and evaluation. As a pre-approved vendor, Venuerific is now more accessible to small event venues who are looking to digitise their businesses.
A Tough Period for the Events Industry
Events industry is one of the most affected industries in Singapore and around the world by the pandemic. Governments around the world implemented travel restrictions; F&B businesses such as bars, restaurants and smaller event venues were forced to halt their regular operations for more than two months in the effort of breaking the circuit. This has resulted in a record-breaking dip in revenue by 90% for most event firms, posing survival danger to smaller businesses, who were relying on events for additional yield in their businesses.
Challenges await these business owners who are reliant on traditional sales channels to woo customers in the recovery phase. It is hence, crucial for them to embrace the digital space as a marketing touchpoint, and find ways to manage their workers for optimal productivity level.
The Solution to Help Kickstart the Recovery Process
Venuerific comes in as the solution to help them in these areas. The company offers an online Marketplace to generate lead inquiries from tens of thousands of visitors per month. The platform’s proprietary CRM system also allows venues to increase productivity by managing inquiries, bookings, tracking sales performance and many more.
Responding to the news from IMDA, Co-founder and CEO, Ricardo Sentosa stated, “We’re really thankful for this opportunity. For businesses we work with, there are challenges in managing their venues remotely on top of generating leads. These are the areas where Venuerific can come in and help automate certain processes with Marketplace, Stats and CRM tools.”
Joined by Cynthia Kin, Co-Founder and CMO of Venuerific, she explained further on the productivity impact brought about by Venuerific. “Within our current venues, we see up to 30% improvements in terms of productivity, hence we’re definitely excited to be able to help more venues with their Digital Transformation journey, especially amidst this difficult period.”
Up to 80% Support Grant for Venues
Through the SMEs Go Digital Programme, eligible venues that are interested in subscribing to Venuerific can apply for the Productivity Solutions Grant (PSG) under Generic sector. Among other criteria, to be eligible for the support fund, venues must be operating in Singapore and have less than 200 employees. View full criteria here.
Claim Up to 90% of the Out-of-Pocket Fund via Skillsfuture Enterprise Credit
Apart from PSG, eligible venues can also make use of their Skillsfuture Enterprise Credit (SFEC) to cover for the remaining 90% of the out-of-pocket fund. To qualify, there are several criteria companies have to follow including having contributed at least S$750 Skills Development Levy over the qualifying period. Read more about the SFEC here.
Flexible Financing Options
To further support the smaller venues and restaurants in kick starting their Digital Transformation journey, Venuerific will also be collaborating with different trusted financing partners to offer Flexible Financing options to potential venues in order to help these smaller venues better finance their subscription to the system. Contact your Account Manager for more information.
More about SMEs Go Digital (SME:D) Programme ICM Pre-approved Solutions
Launched back in 2017, IMDA spearheads the SME Go Digital Programme. The SME:D programme assists SMEs in building their capabilities and participate in the digital economy.
The programme aims to develop a strategy for companies to achieve a certain standard of digital transformation. It also identify digital solutions that helps businesses at different stages of business transformation. IMDA assess these digital solutions to ensure they provide effective solutions to the market.
Read more here.
More about Productivity Support Grant
The Productivity Solutions Grant (PSG) supports companies keen on adopting IT solutions and equipment to enhance business processes. The Government later enhanced PSG with the maximum funding support level raised to 80% from 1 April to 31 December 2020.
Read more here.
More about Venuerific
Venuerific was founded in 2013 with the mission of helping local F&B business owners in Singapore to find additional revenue streams by holding events. Over the years, it has grown into the largest Event Venue Marketplace in Southeast Asia with presence in 5 countries.
In recent years the company has also developed its Venue Management CRM system. The proprietary system provides end-to-end solutions for venues to collect leads and manage bookings efficiently.
In 2020, the company was also awarded the Pioneering Award in the category of Circle of Excellence & Innovation by the Singapore Association of Convention & Exhibition Organisers & Suppliers (SACEOS).
To find out more or to schedule a demo for our Venue Management System, contact: firstname.lastname@example.org
Read more here.