Wed, Mar 25, 2020 – 1:13 PM
UPDATED Wed, Mar 25, 2020 – 2:04 PM
FOOD and beverage (F&B) companies can quickly entry a brand new set of digital companies through DBS to arrange their unbiased on-line food-ordering companies, and presumably at a less expensive fee than working with established food-delivery platforms.
This will likely assist F&B companies elevate their on-line presence to cater to the rising demand for take-out meals amid the virus outbreak and create new earnings streams, with many hit by the newest social-distancing measures.
DBS on Wednesday mentioned it will hyperlink up its prospects with two homegrown know-how startups Oddle and FirstCom to supply F&B companies the flexibility to arrange their very own meals ordering web site in simply three days. They’ll additionally arrange their “digital presence” with on-line advertising in 5 days.
The service is predicted to be out there by the top of March 2020, and might be supported by Infocomm Media Improvement Authority (IMDA) and Enterprise Singapore.
DBS mentioned that its F&B prospects pay a preferential fee to arrange an internet web site, as in contrast with fee charges of as excessive as 30 per cent on different business digital platforms. The Enterprise Instances understands that the commissions may go right down to half of that.
Oddle will assist companies set up a branded e-menu with an built-in buying cart, order administration and fee companies in three enterprise days. The identical course of sometimes would take as much as a number of weeks or months if companies go it alone.
Oddle will help the onboarding course of to their F&B platform by offering coaching and a social media package for retailers to additional drive on-line gross sales by means of digital advertising instruments. It should additionally assist F&B SMEs connect with logistics companions in the event that they require on-demand meals supply. Oddle’s system is presently behind greater than 3,000 F&B manufacturers, together with Soup Restaurant, Arnold’s Fried Hen and A-One F&B.
As for FirstCom, it would assist those that have already got an internet presence to boost their digital advertising efforts by providing retailers preferential charges for digital advertising companies. This consists of establishing and managing companies’ social media presence on Fb and Instagram. The bundle that it’s providing is valued at S$3,000, and is known to be price a minimum of double within the business.
For F&B manufacturers which can be new to e-commerce, FirstCom may even be capable of assist them arrange a digital presence in fewer than 5 working days. FirstCom has served over 4,500 SME purchasers up to now.
DBS mentioned that it’ll take up the set-up prices for its digital service provider collections answer and waive service provider low cost charges for six months for FirstCom prospects adopting it.
Joyce Tee, group head of SME Banking, DBS mentioned: “The DBS F&B digital aid bundle elevates our help for the F&B neighborhood by creating an ecosystem of presidency companions and homegrown know-how startups to assist affected companies overcome cashflow challenges by creating new earnings streams quick.”
DBS’s newest transfer comes on the again of two rounds of aid measures to deal with cashflow challenges confronted by the SME neighborhood. These embody a six-month principal compensation moratorium for SME property loans, and a collateral-free digital enterprise mortgage of as much as S$50,000 that’s disbursed inside 24 hours of mortgage acceptance.