The Client |
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Founded in 1976, this client is a well-established leader in Singapore’s auto-financing industry with over SG$15 million in annual revenue and SG$110 million in total assets. Over four decades, the company has evolved from a modest four-person team into a multi-entity group with diversified business arms including auto-financing, premium pre-owned car trading, commercial vehicle leasing, real estate, fine wine trading, and storage. With a headcount of over 20 and a strong physical presence across Singapore, the group owns several dedicated commercial properties. It maintains long-standing partnerships with top-tier banks such as DBS, OCBC, and Standard Chartered, and works closely with major car dealerships like Borneo Motors and Daimler. The group’s forward-looking growth strategy includes a planned SG$30 million investment to expand its luxury used car business and a concurrent push for digitisation to increase internal productivity, elevate customer service, and position the business for scalable future growth.
How RIC Helped |
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Grant Secured:
RIC supported the client in securing the Enterprise Development Grant (EDG) under the Innovation & Productivity – Process Redesign category. The project received an approval of close to S$100,000 in grant support, covering up to 70% of eligible implementation and consultancy costs for the ERP system.
Scope of RIC’s Consulting and Advisory Services:
RIC worked closely with the client to scope and articulate a deeply operational and high-impact digital transformation project involving the implementation of a custom ERP solution. This system addressed mission-critical pain points in auto-financing, accounting, and operations. RIC’s work included:
RIC supported the client in securing the Enterprise Development Grant (EDG) under the Innovation & Productivity – Process Redesign category. The project received an approval of close to S$100,000 in grant support, covering up to 70% of eligible implementation and consultancy costs for the ERP system.
Scope of RIC’s Consulting and Advisory Services:
RIC worked closely with the client to scope and articulate a deeply operational and high-impact digital transformation project involving the implementation of a custom ERP solution. This system addressed mission-critical pain points in auto-financing, accounting, and operations. RIC’s work included:
- Deep project articulation, including mapping the client's current fragmented manual processes (spanning commission tracking, loan repayment, customer records, and accounting) and clearly quantifying inefficiencies—over 320 hours lost weekly in manual handling.
- Vendor evaluation and cost planning, performing solution analysis and vendor selection for a customised ERP system tailored to automotive financing workflows. This included financial modeling of productivity gains and ROI.
- Comprehensive impact analysis, quantifying annual time savings (10,491 hours), projected productivity value (SG$715,000 over 3 years), and uplift in professional image and financing credibility with banks.
- Implementation planning, including phased roll-out timelines, user training schedules, integration plans for finance and operations modules, and system testing protocols.
- Full submission and compliance support via the Business Grant Portal (BGP), managing all backend processes—cost itemization, milestone planning, consultant justifications, and final reporting.
Outcomes |
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- Successfully implemented an integrated ERP system across automotive hire purchase, block discount financing, and finance functions.
- Eliminated over 10,000 manual hours annually, unlocking SG$700K+ in time value over 3 years and improving inter-departmental workflow integration.
- Improved operational productivity by 25% in financing case handling, enabled real-time tracking of repayments and commissions, and reduced error rates in accounts reconciliation.
- Enhanced the client’s ability to scale by freeing manpower resources for business development and expanding into new verticals like luxury pre-owned vehicle sales.
Throughout this journey, RIC worked hand-in-hand with the client, ensuring the project was not only fundable but also executable and aligned with long-term business goals. Our deep understanding of the client’s operational workflows and business model was instrumental in delivering a solution that would support future scale.
This case exemplifies how RIC enables established industry leaders to transform legacy systems and scale through technology. Our end-to-end consulting, grant expertise, and operational fluency make us the ideal partner for firms seeking to digitise core operations and future-proof their businesses.