What is the PSG Grant and How Does it Help Singapore Businesses Automate Accounting in 2026?
💡 TL;DR: The Productivity Solutions Grant (PSG) is Singapore’s flagship government support program that provides up to 50% subsidies (capped at S$30,000) for SMEs adopting pre-approved accounting automation solutions. Administered by Enterprise Singapore, PSG helps businesses reduce the financial burden of digital transformation by co-funding cloud accounting software, accounts payable automation, accounts receivable automation, and AI-powered finance tools. Singapore SMEs with at least 30% local shareholding, annual sales below $100M or ≤200 employees can apply through the Business Grants Portal. The program covers invoice OCR, approval workflows, payment processing, automated collections, and financial reporting tools from approved vendors, making enterprise-grade automation accessible to small businesses.
📅 PSG Terms Last Verified: May 2026. Support levels, eligibility criteria, and approved vendor lists are subject to change by Enterprise Singapore. Always verify current PSG terms at gobusiness.gov.sg before applying.
What is the Productivity Solutions Grant (PSG) in Singapore?
The Productivity Solutions Grant (PSG) is a Singapore government initiative administered by Enterprise Singapore designed to help businesses adopt pre-approved IT solutions and equipment that enhance productivity and support business transformation.
Launched as part of Singapore’s broader digitalization push, PSG provides crucial financial support to SMEs seeking to modernize their operations through technology adoption—particularly in areas like accounting automation, finance management, and back-office digitalization.
Why Was PSG Grant Created?
Singapore’s economy depends heavily on SME competitiveness. According to Enterprise Singapore’s 2025 SME Development Survey, SMEs account for 99% of enterprises and employ 72% of the workforce in Singapore.
However, many SMEs face significant barriers to technology adoption:
- High upfront costs: Enterprise-grade accounting automation typically costs $20,000-80,000 for implementation and first-year subscription
- Limited IT expertise: Many SMEs lack in-house technical resources to evaluate and implement complex solutions
- Risk aversion: Smaller businesses are hesitant to invest in unfamiliar technologies without proven ROI
- Cash flow constraints: Even profitable SMEs may lack the working capital for large technology investments
The PSG Grant was created to address these barriers by:
- Reducing financial risk through government co-investment (up to 50% funding)
- Validating solution quality through pre-approval of vendors and solutions
- Accelerating adoption by making advanced automation accessible to smaller businesses
- Leveling the competitive playing field between SMEs and larger enterprises
How Does PSG Grant Work for Accounting Automation?
For businesses seeking to automate accounting processes—particularly accounts payable and accounts receivable—PSG provides structured support:
1. Pre-Approved Solutions: Enterprise Singapore maintains a curated list of pre-approved accounting automation solutions from verified vendors on the Business Grants Portal. This reduces evaluation burden and ensures solution quality.
2. Funding Support: The government co-funds qualifying costs, typically covering:
- Software subscription fees (first 12-24 months)
- Implementation and setup costs
- Training and change management
- Integration with existing systems
- Data migration costs
3. Streamlined Application: Businesses apply through a unified GoBusiness portal, reducing administrative complexity compared to traditional grant programs.
4. Vendor Collaboration: PSG-approved vendors are familiar with grant requirements and assist with application documentation, quotation preparation, and compliance.
What Accounting Automation Solutions Are Covered by PSG Grant?
PSG supports a comprehensive range of accounting automation categories specifically designed to reduce manual workload, minimize errors, and improve financial visibility for Singapore SMEs.
Accounts Payable (AP) Automation Solutions
PSG-approved AP automation solutions help businesses eliminate manual invoice processing and streamline vendor payment workflows.
Core capabilities covered:
- AI-powered invoice capture and OCR: Automatically extract data from invoices (PDF, email, scanned documents) without manual data entry
- Automated approval workflows: Route invoices to appropriate approvers based on business rules, amounts, departments, or vendors
- Payment processing automation: Schedule and execute vendor payments via GIRO, PayNow, bank transfers, virtual cards
- Three-way matching: Automatically match purchase orders, goods receipts, and invoices to prevent overpayments
- Vendor management: Centralized vendor database with document storage, payment terms tracking, and performance analytics
- ERP integration: Sync with accounting systems like SAP, Oracle NetSuite, Xero, QuickBooks, MYOB
According to McKinsey’s 2025 CFO Survey, AP automation reduces invoice processing costs by 73% and cuts processing time from 16 days to 3 days on average.
Peakflo’s accounts payable automation is PSG pre-approved and helps Singapore SMEs achieve these efficiency gains with up to 50% government support support.
Accounts Receivable (AR) Automation Solutions
PSG-approved AR automation solutions accelerate cash collection and reduce Days Sales Outstanding (DSO) through intelligent automation.
Core capabilities covered:
- Automated invoice generation and delivery: Create and send invoices automatically based on delivery confirmations, service completion, or billing schedules
- Multi-channel payment reminders: Send automated email, WhatsApp, and SMS reminders based on payment terms and customer behavior
- AI voice agents for collections: Deploy conversational AI to make personalized collection calls at scale, negotiate payment plans, and log outcomes automatically
- Customer self-service portals: Enable customers to view invoices, make payments, raise disputes, and download statements 24/7
- Payment processing: Accept online payments via credit cards, bank transfers, PayNow, GIRO with automatic reconciliation
- Collections analytics: Track DSO, aging reports, customer payment patterns, and collector performance
Research by Hackett Group (2025) shows that AR automation reduces DSO by 25-30% and improves cash flow predictability for SMEs.
Peakflo’s accounts receivable automation leverages AI voice agents to help Singapore businesses reduce overdue invoices while maintaining positive customer relationships.
Cloud Accounting and Financial Management Software
PSG supports comprehensive cloud-based accounting platforms that provide financial visibility and compliance capabilities.
Core capabilities covered:
- General ledger and bookkeeping: Multi-currency support, journal entries, chart of accounts management
- Financial reporting: Profit & loss statements, balance sheets, cash flow statements, customizable reports
- GST compliance: Automatic GST calculation, GST reporting, IRAS filing integration
- Bank reconciliation: Automated matching of bank transactions with accounting records
- Expense management: Receipt capture, expense categorization, approval workflows, reimbursement processing
- Multi-entity consolidation: Consolidated financial reporting across subsidiaries and business units
Popular PSG-approved accounting software includes Xero, QuickBooks Online, Zoho Books, MYOB, and ABSS.
Financial Automation and Analytics
Advanced PSG solutions provide predictive analytics and automation capabilities for strategic financial management.
Core capabilities covered:
- Cash flow forecasting: AI-powered predictions of future cash positions based on historical patterns and upcoming obligations
- Budget management: Automated budget tracking, variance analysis, departmental budget allocation
- Financial consolidation: Multi-company and multi-currency financial consolidation for groups
- Automated reconciliations: Bank reconciliation, intercompany reconciliation, balance sheet reconciliation
- Compliance automation: Audit trail management, regulatory reporting, internal control documentation
What Are the PSG Grant Funding Levels for Accounting Automation?
PSG provides tiered support based on business profile and solution scope.
Standard Funding Support
Funding Level: 50% of qualifying costs
Eligibility: All qualifying Singapore SMEs meeting basic PSG eligibility criteria
Typical Support Caps for Accounting Automation:
- Basic cloud accounting software: S$15,000-30,000 maximum support
- AP automation solutions: S$30,000-45,000 maximum support
- Comprehensive AP + AR automation: S$45,000-60,000 maximum support
- Enterprise financial management: S$60,000-100,000 maximum support
Example Calculation:
- Total project cost: S$60,000 (software subscription + implementation + training)
- PSG support (50%): S$30,000
- Net company investment: S$30,000
Enhanced Funding Support
Funding Level: Up to 70% of qualifying costs
Eligibility: Companies participating in specific programs:
- Industry Digital Plans (IDPs) participants
- Companies undergoing transformation under sector-specific initiatives
- Businesses in industries prioritized for digitalization (e.g., F&B, retail, logistics)
- SMEs participating in industry development programs
Enhanced Support Scenarios:
- F&B businesses adopting end-to-end finance automation under the F&B IDP
- Logistics companies implementing finance systems as part of supply chain digitalization
- Healthcare providers adopting patient billing automation under healthcare transformation programs
Example Calculation (Enhanced):
- Total project cost: S$60,000
- PSG support (70%): S$42,000
- Net company investment: S$18,000
What Costs Are Covered by PSG Grant?
Qualifying Costs (eligible for funding):
- Software licensing fees (12-24 month subscription for SaaS solutions)
- Implementation and configuration services
- Data migration from legacy systems
- User training and change management
- Customization to meet business requirements
- Integration with existing systems (ERP, CRM, banking)
- Hardware directly required for solution operation (if specified in pre-approval)
Non-Qualifying Costs (not covered):
- Rental or leasing fees (only purchase or subscription)
- Ongoing operational costs beyond initial subscription period
- General IT infrastructure not specific to the solution
- Internal staff costs
- Costs incurred before grant approval
- Annual maintenance fees beyond initial period
PSG Funding Comparison by Solution Type
| Solution Type | Typical Total Cost | PSG Support (50%) | Net Investment | Typical ROI Period |
|---|---|---|---|---|
| Cloud Accounting Software | S$12,000-25,000 | S$6,000-12,500 | S$6,000-12,500 | 6-12 months |
| AP Automation | S$30,000-60,000 | S$15,000-30,000 | S$15,000-30,000 | 8-14 months |
| AR Automation | S$25,000-50,000 | S$12,500-25,000 | S$12,500-25,000 | 6-10 months |
| Comprehensive AP + AR | S$50,000-90,000 | S$25,000-45,000 | S$25,000-45,000 | 10-16 months |
| Enterprise Finance Platform | S$80,000-150,000 | S$40,000-75,000 | S$40,000-75,000 | 12-20 months |
Source: Enterprise Singapore PSG Guidelines 2026; Peakflo Implementation Data 2025
Who is Eligible for PSG Grant in Singapore?
Before applying for PSG Grant, verify your company meets all fundamental eligibility criteria.
Company Registration Requirements
Must have:
- ✅ Registered with ACRA (Accounting and Corporate Regulatory Authority)
- ✅ Valid business registration number
- ✅ Actively conducting business operations in Singapore (not dormant)
- ✅ Physical business presence in Singapore (office, not just registration address)
Common scenarios:
- Recently incorporated companies: Eligible immediately upon registration
- Foreign-registered companies: Must establish Singapore subsidiary or branch
- Holding companies: Eligible only if conducting substantive business activities
Local Shareholding Requirement
Requirement: At least 30% local shareholding held directly by Singapore Citizens or Permanent Residents
Verification:
- Must be direct shareholding (not through foreign entities)
- Nominee arrangements don’t count toward local shareholding
- Complex ownership structures require detailed documentation
Examples:
| Ownership Structure | Local Shareholding | PSG Eligible? |
|---|---|---|
| 100% Singapore Citizen owned | 100% | ✅ Yes |
| 60% SC, 40% foreign investor | 60% | ✅ Yes |
| 30% SC, 70% foreign corporation | 30% | ✅ Yes (meets threshold) |
| 25% SC, 75% foreign investor | 25% | ❌ No (below 30%) |
| 50% held by foreign company (owned by SCs) | 0% direct | ❌ No (indirect ownership doesn’t count) |
Company Size Limits
Must meet at least ONE of these criteria (on group basis):
- Group annual sales turnover < S$100 million, OR
- Group employment size ≤ 200 workers
Key clarifications:
- Group basis: Includes all related companies (subsidiaries, affiliates, parent companies)
- Either/or criterion: Exceeding one limit is acceptable if you meet the other
- Assessment period: Based on latest completed financial year
Financial Standing and Compliance
Requirements:
- ✅ Company in good financial standing (not insolvent)
- ✅ Not under judicial management or liquidation
- ✅ No outstanding government dues (taxes, CPF, grants)
- ✅ Compliance with statutory requirements
Common issues:
- Recent financial losses: Acceptable if company remains solvent
- Outstanding tax payments: Must be cleared before application
- Previous grant non-compliance: May affect eligibility
Eligible Business Activities
Eligible: Most commercial business activities registered under valid SSIC codes
Excluded sectors:
- ❌ Bars, night clubs, massage parlors
- ❌ Gambling and betting activities
- ❌ Tobacco manufacturing and distribution
- ❌ Pure property holding companies (no active business)
For detailed eligibility verification, refer to Enterprise Singapore’s PSG eligibility guidelines or consult with PSG-approved vendors who can help assess your qualification.
How Do I Apply for PSG Grant for Accounting Automation?
The PSG Grant application process is streamlined through Singapore’s unified Business Grants Portal.
Step 1: Verify Eligibility
Before starting your application:
- Confirm company eligibility: Verify registration, shareholding structure, size limits, and financial standing
- Review business activities: Ensure your SSIC code represents eligible activities
- Check compliance status: Confirm no outstanding government dues or statutory violations
- Gather corporate documents: Prepare ACRA Business Profile, financial statements, shareholder register
Step 2: Select Pre-Approved Solution and Vendor
- Browse PSG Directory: Visit Business Grants Portal PSG Directory
- Filter by category: Select “Accounting & Bookkeeping” or “Finance Management” categories
- Compare solutions: Evaluate features, pricing, implementation timeline, vendor support
- Verify pre-approval status: Ensure the specific solution package is PSG pre-approved
Why choose Peakflo?
Peakflo’s finance automation platform is PSG pre-approved for both accounts payable and accounts receivable automation, providing:
- AI-powered invoice processing reducing manual data entry by 90%
- Automated approval workflows cutting approval time from 7 days to 4 hours
- AI voice agents for payment collection reducing DSO by 28%
- Seamless integration with Xero, QuickBooks, NetSuite, SAP, Oracle
Step 3: Get Detailed Quotation from Vendor
Work with your chosen PSG-approved vendor to obtain:
- Detailed cost breakdown: Software subscription, implementation, training, integration, customization
- Project timeline: Implementation schedule, go-live date, training schedule
- Scope of work: Features included, integration points, number of users, support terms
- PSG support estimate: Expected grant amount and net company investment
Important: Do not make any purchase or payment before receiving PSG approval. Costs incurred before approval are not eligible for funding.
Step 4: Submit Application via Business Grants Portal
-
Log in to Business Grants Portal: Use CorpPass (company digital identity)
-
Select PSG Grant: Navigate to “Apply for Grant” > “Productivity Solutions Grant”
-
Complete online form: Provide company details, solution information, cost breakdown
-
Upload supporting documents:
- ACRA Business Profile
- Vendor quotation
- Company financial statements (if requested)
- Shareholding documentation (if requested)
-
Submit application: Review all information and submit
Step 5: Await Approval from Enterprise Singapore
Typical timeline: 4-8 weeks from submission
What happens during review:
- Enterprise Singapore reviews eligibility and solution suitability
- May request additional documentation or clarification
- Assesses alignment with business needs and productivity objectives
Approval notification: Receive approval letter via email with:
- Approved grant amount
- Validity period (typically 6 months to complete purchase and implementation)
- Conditions and requirements
- Claims submission guidelines
Step 6: Purchase and Implement Solution
Upon approval:
- Execute agreement with vendor: Sign software subscription agreement and implementation contract
- Make payment: Complete payment as per approved quotation (you pay full amount upfront, claim grant later)
- Implement solution: Complete setup, configuration, integration, data migration, and training
- Document implementation: Maintain records of implementation activities, training attendance, go-live confirmation
Important: Complete purchase and implementation within the validity period specified in the approval letter (typically 6 months).
Step 7: Submit Claims for Grant Disbursement
After successful implementation:
-
Gather claim documents:
- Invoice from vendor
- Proof of payment (bank transfer confirmation, check copy)
- Implementation completion report
- Training completion records
- Solution screenshots/evidence of deployment
-
Submit claim via Business Grants Portal: Upload claim documents within 6 months of project completion
-
Await grant disbursement: Enterprise Singapore reviews claim and disburses approved grant amount to company bank account (typically 4-6 weeks after claim approval)
How Long Does the Entire Process Take?
| Stage | Duration | Notes |
|---|---|---|
| Vendor selection & quotation | 1-2 weeks | Faster with pre-shortlisted vendors |
| Application submission | 2-5 days | Depends on document readiness |
| PSG review & approval | 4-8 weeks | Simple applications may be faster |
| Implementation | 6-12 weeks | Varies by solution complexity |
| Claims submission | 1-2 weeks | After implementation completion |
| Grant disbursement | 4-6 weeks | After claims approval |
| Total timeline | 4-6 months | From application to receiving funds |
For fastest processing, work with experienced PSG-approved vendors like Peakflo who guide you through documentation, application, and claims processes.
What Are the Benefits of Using PSG Grant for Accounting Automation?
PSG Grant provides compelling advantages beyond just cost reduction.
1. Significant Cost Reduction
Direct financial savings:
- Reduce net implementation cost by 50% (or up to 50% for enhanced support)
- Access enterprise-grade automation at SME-friendly pricing
- Preserve working capital for business operations instead of technology investment
Example ROI with PSG:
- Pre-PSG monthly AP processing cost: S$8,400 (2 staff × 140 hours × S$30/hour)
- Post-automation monthly cost: S$2,520 (0.5 staff × 40 hours × S$30/hour + S$1,320 software)
- Monthly savings: S$5,880
- Annual savings: S$70,560
- Net implementation cost (with PSG): S$30,000
- Payback period: 5.1 months
2. Validated Solution Quality
Reduced technology risk:
- PSG pre-approval validates vendor credibility and solution capability
- Government vetting reduces risk of selecting unsuitable or unreliable solutions
- Approved vendors meet minimum quality, security, and support standards
3. Accelerated Digital Transformation
Faster adoption:
- Financial support removes primary barrier to automation adoption
- Urgency of grant validity period (6 months) accelerates decision-making
- Vendor assistance with application speeds deployment
According to IMDA’s 2025 SME Digital Readiness Report, SMEs using PSG grants adopt automation solutions 2.3 years earlier than those self-funding, providing significant competitive advantage.
4. Improved Operational Efficiency
Measurable productivity gains from accounting automation:
- 73% reduction in invoice processing costs (McKinsey 2025)
- 90% reduction in manual data entry time
- 65% faster month-end close processes
- 85% reduction in payment errors and duplicate payments
- 28% reduction in Days Sales Outstanding (DSO)
5. Enhanced Financial Visibility and Control
Strategic benefits:
- Real-time financial dashboards replacing monthly reporting delays
- Automated reconciliation improving accuracy and reducing audit findings
- Better cash flow forecasting enabling data-driven decisions
- Audit trails and compliance documentation reducing regulatory risk
6. Scalability Without Proportional Headcount Growth
Growth enablement:
- Handle 3-5× invoice volume without additional finance staff
- Scale collections operations without expanding team size
- Support business expansion without finance function bottlenecks
Case example: A Singapore logistics SME using Peakflo’s AP automation grew invoice volume from 450 to 1,800 monthly invoices (+300%) while reducing finance team from 3 to 2 FTEs, enabled by 50% PSG support support.
7. Competitive Advantage Through Technology
Market positioning:
- Deploy same automation technologies as larger competitors
- Improve vendor relationships through faster, more reliable payments
- Enhance customer experience with professional invoicing and flexible payment options
- Attract talent with modern, efficient finance operations vs. manual processes
Real Customer Success: Haisia Reduces Invoice Processing Time by 85%
Haisia, a Singapore-based logistics company processing 350+ monthly invoices, implemented Peakflo’s PSG-funded AP automation and achieved:
- 85% reduction in invoice processing time: From 8 days average to same-day processing
- 90% reduction in manual data entry: AI invoice capture eliminated manual keying
- S$54,000 annual cost savings: Reduced from 2.5 FTE to 0.8 FTE for AP operations
- 10-month payback period: With PSG covering 50% of implementation costs
- Zero duplicate payments: Automated 3-way matching prevented all duplicates
“The PSG Grant made enterprise-grade automation accessible to us. Peakflo paid for itself in less than a year, and we’re now processing 3× the invoice volume with the same team size.” — Finance Director, Haisia
Our Verdict: Is PSG Grant Worth It for Accounting Automation?
YES — PSG Grant is highly recommended for Singapore SMEs considering accounting automation.
Why we recommend PSG:
✅ Significant cost reduction: 50% funding makes enterprise automation accessible even to smaller SMEs with limited budgets
✅ De-risked investment: Government validation of solutions and vendors reduces technology selection risk
✅ Fast ROI: Even with 50% co-funding, typical payback periods are 6-14 months for AP/AR automation, with ongoing savings for years
✅ Comprehensive solution coverage: PSG supports full spectrum from basic accounting software to advanced AI-powered automation
✅ Streamlined process: Unified Business Grants Portal and experienced vendor support simplify application
✅ No repayment obligation: PSG is a grant (not a loan), with no repayment required if you meet obligations
When PSG makes the most sense:
- Companies processing >100 invoices monthly (either AP or AR)
- Businesses with manual approval workflows causing payment delays
- SMEs experiencing cash flow challenges due to slow collections
- Organizations planning to scale operations without proportional headcount growth
- Companies seeking to improve financial visibility and control
When to proceed without PSG:
- Very small transaction volumes (<50 invoices monthly) may not justify automation complexity
- Immediate implementation required (can’t wait 4-8 weeks for approval)
- Company doesn’t meet eligibility criteria (especially local shareholding requirement)
Bottom line: For eligible Singapore SMEs with moderate to high transaction volumes, PSG Grant reduces the financial barrier to accessing productivity-enhancing automation that delivers measurable ROI within 12 months. The combination of cost reduction, validated solutions, and vendor support makes PSG the most practical path to accounting automation for Singapore businesses.
If your company meets eligibility criteria and processes significant invoice volumes, applying for PSG Grant should be the first step before implementing any accounting automation solution.
Frequently Asked Questions (FAQs)
What is the PSG Grant in Singapore?
The Productivity Solutions Grant (PSG) is a Singapore government initiative administered by Enterprise Singapore that provides support of up to 50% (capped at S$30,000-60,000) for SMEs to adopt pre-approved IT solutions and equipment, including accounting automation software.
How much funding can I get from PSG Grant for accounting automation?
What are the eligibility requirements for PSG Grant?
Companies must: (1) be registered and operating in Singapore, (2) have at least 30% local shareholding (Singapore Citizens or PRs), (3) meet size limits (group sales < $100M OR employees ≤ 200), (4) be in good financial standing, and (5) use PSG pre-approved solutions from approved vendors.
Which accounting automation solutions qualify for PSG Grant?
PSG supports accounts payable automation (invoice OCR, approval workflows, payment processing), accounts receivable automation (automated invoicing, payment reminders, AI voice agents), cloud accounting software (Xero, QuickBooks, Zoho Books), and financial management systems from pre-approved vendors.
How do I apply for PSG Grant?
Apply through the Business Grants Portal: (1) verify eligibility, (2) select a PSG pre-approved solution and vendor, (3) get detailed quotation, (4) submit online application with supporting documents, (5) await approval (4-8 weeks), (6) purchase and implement solution, (7) submit claims for grant disbursement.
How long does PSG Grant approval take?
Typical PSG Grant approval takes 4-8 weeks from application submission. Simple applications with complete documentation may receive approval in 3-4 weeks, while complex applications requiring clarification can take 8-12 weeks.
Can I claim PSG Grant for expenses incurred before approval?
No. PSG Grant only covers costs incurred AFTER approval is granted. Do not make any purchase, payment, or commitment before receiving the official PSG approval letter from Enterprise Singapore.
Is Peakflo a PSG-approved vendor?
Yes, Peakflo is a PSG pre-approved vendor for accounts payable and accounts receivable automation. Singapore SMEs can claim up to 50% support for Peakflo’s finance automation platform.
What is the difference between PSG Grant and SMEs Go Digital?
PSG Grant provides broader support (up to 50%) for pre-approved solutions with higher support caps. SMEs Go Digital focuses on basic digital solutions for smaller businesses with simpler needs. PSG is generally better for comprehensive accounting automation projects.
Can I apply for PSG Grant if my company has foreign majority ownership?
Yes, as long as at least 30% is held directly by Singapore Citizens or Permanent Residents. Companies with 70% foreign ownership and 30% local ownership meet the eligibility requirement.
What happens if I don’t complete the project within the validity period?
If you cannot complete purchase and implementation within the validity period (typically 6 months), you must request an extension from Enterprise Singapore before expiry. Failure to complete within the approved timeline may result in grant withdrawal.
Can I claim PSG Grant for software subscription renewal?
PSG typically covers the initial subscription period (12-24 months). Renewal subscriptions beyond the initial approved period are generally not covered by the same grant, though you may apply for subsequent PSG support for additional capabilities or expansions.
How is the PSG Grant disbursed?
After project completion and claims submission, Enterprise Singapore reviews your claim documentation. Upon approval, the grant amount is disbursed directly to your company’s bank account via GIRO (typically 4-6 weeks after claims approval).
Can I apply for PSG Grant for multiple solutions simultaneously?
Yes, companies can apply for PSG support for multiple solutions, provided each addresses different business needs and the total support does not exceed overall PSG caps. However, solutions must be genuinely distinct (e.g., cannot claim PSG for two competing accounting software).
What if my PSG application is rejected?
You will receive a rejection notice with reasons. Common rejection reasons include ineligibility, incomplete documentation, or solution not matching business needs. You can address the issues and reapply. Working with experienced PSG vendors reduces rejection risk significantly.
Ready to automate your accounting with PSG Grant support?
Peakflo is a PSG pre-approved vendor for accounts payable and accounts receivable automation. Singapore SMEs can secure up to 50% government support to implement AI-powered invoice processing, automated approval workflows, payment automation, and AI voice agents for collections.
Get started:
- 📋 Check PSG eligibility for Peakflo
- 📞 Book a demo to see Peakflo’s automation in action
- 📊 Calculate your PSG Grant savings
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