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A4: SME Savings

Proposal submission date
Start date: November 23rd, 2020 End date: December 9th, 2020

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Problem Statement Information

Categories
FinTech, General

Problem statement tags
#costreduction #procurement #bulkbuy

Detailed Description
How might Prudential effectively and sustainably help SMEs improve their process efficiency or reduce cost in their operations?

In this bleak economy, profit margins are shrinking, cost are rising driven by wages and rental, while competition remains stiff. SMEs could stand to benefit from solutions to help them improve or optimise their process efficiency, or reduce cost in areas such as procurement. Possible solutions could look at areas of creating a platform to enable bulk/group buying amongst SMEs; inventory management systems; or tools to enable possible optimization through the use of data mining or analytics.

The best submissions will also consider what role Prudential can play in this solution and how we can achieve a win-win-win outcome for SMEs, the solution provider and Prudential.

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