The business re-engineering scheme aims to assist businesses, specifically small and medium–sized enterprises, in making key changes in the way they operate in order to address the challenges which have been brought along by the pandemic. It applies to businesses who embark on a reengineering exercise to align their process with the aim of adapting to changes in the environment.
The beneficiaries who seek advice from approved advisors to assist them in carrying out significant changes which will enable them to accelerate development and improve market access, can benefit from a grant amounting to 50% of the costs involved, capped at Eur 5,000 per advisory service per applicant.
Projects undertaken by the enterprise must be of strategic significance and should address one or more of the following objectives:
- Digitisation of business processes including the deployment of digital technologies, such as IoT, artificial intelligence, machine learning and predictive analytics;
- Improve operational performance, reduce errors and improve accountability following a review processes to identify inefficient use of resources;
- Improvements to the flow of goods, materials and/or information following a review of the interaction between functions;
- Improve environmental performance by identifying waste streams and resource usage;
- Support the implementation of quality systems and the attainment of product process certifications;
- Review customer handling procedures and propose solutions to enable excellent customer service;
- Assess market dynamics, fluctuation in demand and changes in consumer behaviour to reposition product and service offering as may be required.