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SUCCESS CASE
How a Business Consulting Firm Secured S$51.5K for Business Model Transformation
RIC helped a business consulting firm secure EDG support to transform its revenue model, expand service offerings, and improve financial performance.
CATEGORY
Strategy and Consulting
CLIENT TYPE
Business consulting / strategic advisory services
GRANT TYPE
Enterprise Development Grant support
FUNDING SECURED
S$51,550
About the Client and Project
Client Profile
The client is a business consulting firm providing strategic planning, financial management, and operational optimisation services. It serves SMEs and larger corporations across sectors such as technology, finance, and manufacturing. As client demand shifted toward cloud transformation, data analytics, and higher-value advisory services, the firm sought to evolve its business model, improve profitability, and expand its service portfolio.
Project Nature
The project involved a business model transformation and strategic planning engagement. Key workstreams included business diagnostic review, financial review, revenue model redesign, market and service line expansion, cost and performance management, and implementation roadmap development. The project helped the client move from a licence-based model toward a more services-led strategy, with emphasis on higher-margin offerings such as cloud consulting, ERP solutions, advanced data analytics, and cloud security services.
Funding Objective and Challenge
Funding Objective
The funding objective was to support the client’s strategic transformation under the Enterprise Development Grant. The grant helped defray qualifying costs for expert consultancy, market analysis, and financial advisory. The project aimed to improve profitability, strengthen cost management, expand service offerings, support market expansion, and create a clearer roadmap for sustainable growth.
The Challenge
The client was a well-regarded business consulting firm with expertise in strategic planning, financial management, and operational optimisation. It served clients ranging from SMEs to large corporations across technology, finance, and manufacturing.
As demand grew for value-added services such as cloud transformation and data analytics, the client recognised that its existing business model needed to evolve. The challenge was to shift from a more licence-based model toward a services-led strategy, strengthen profitability, expand into new service lines, and enter new markets while managing competition and changing client needs.
How RIC Supported the Client
RIC supported the client in securing EDG support from Enterprise Singapore for a business model transformation and strategic planning project.
RIC’s support included:
• Conducting a business diagnostic and financial review to evaluate existing operational and financial processes.
• Identifying inefficiencies, growth bottlenecks, and areas for profitability improvement.
• Advising on revenue model transformation from a licence-based model to a services-led revenue strategy.
• Prioritising higher-margin offerings such as cloud consulting and ERP solutions.
• Mapping new growth opportunities, including advanced data analytics and cloud security services.
• Proposing financial metrics, cost control initiatives, and profitability targets.
• Developing a phased implementation roadmap to align operations, internal capabilities, and go-to-market activities with the updated strategy.
RIC’s role was to help the client reimagine its business strategy and financial performance, then translate that transformation plan into a fundable EDG project.
Outcome
FUNDING SECURED
S$51,550
The client secured S$51,550 in EDG support for business model transformation and strategic planning. The project supported expert consultancy fees, market analysis, and financial advisory work.
The client successfully transitioned toward a services-driven business model, enabling higher-value and more scalable offerings such as cloud consulting and automation solutions. It also achieved cost optimisation and short-term profitability gains, reduced time spent on manual processes by 50% through operational streamlining and automation advisory, expanded into Southeast Asian markets, and strengthened its long-term scalability through a more future-ready service portfolio and improved financial structure.
What This Means for Similar Companies
For consulting and professional services firms, strategic transformation grants are strongest when the project changes the business model, not just the marketing plan. A fundable case should show how the company will improve profitability, redesign revenue streams, expand service lines, strengthen internal processes, and enter new markets. This case shows how a consulting firm can use EDG support to reposition itself for higher-value advisory work and long-term scalability.
