support@aafaqtech.com
support@aafaqtech.com
Managing Sub contractor & their transactions has always been a major challenge for real estate or construction industry customers. AFFAQ’s Subcontract Management solution is a one-stop solution to manage the end-to-end business process cycle of your subcontract right from the defining the Contract to Progress Update to Payment and Deductions:
A single application for tracking down all POs to Receipts to Invoice to Payments. Improve collaboration for better subcontractor utilization and reporting
Easy to monitor the Subcontractor progress against the scope of work.
System has the features of Flexible pricing methods for commitments and allows the user to generate the Subcontractor certificate/ Progress payments that automatically calculate retainage. Also capture and automate sub contractor negotiations of each payment certificate.
Approval driven integrations with Finance system ensures zero error in the payment, receipts, invoice approvals. Also, Approval hierarchy includes the client consultant approval through email/portal
Smooth handling of penalty, retentions and other charges.
Change-order management to track all adjustments to contract scope and control expenditures.
System have the feature to capture the Contra or Back Charges with full retention cycle and Advance payment controls. And Integration with dependency systems for back charges, like, Camp and food meals
A dedicated portal for Subcontractors to submits the work progress and to review their activity & initiate transactions/queries cutting down lot of unnecessary communications over emails, messages, and phone calls
Proper tracking on all applications from the sub-contractors till payments like Tracking Work done, Advance payments, Retentions and due/release dates
Misalignment with the subcontractors has been eliminated concerning handling scope of work, variation order, penalties, etc. Concise understanding of exact Subcontractor commitments.
System helps to manage progress payments by Providing quick access to log status information, Processing retainage amounts as percentage or flat rates, Performing both partial and full retainage releases
Creating subcontractor-type POs and establish work assignments with labor and expense thresholds against those POs. Consolidate PO and invoice communications and transactions with Costpoint Supplier Portal
More control over charging penalty, charges, and retention as per contract terms and condition and Bespoke workflow for the certificate approval process
Decrease data entry and eliminate manual processes with finance, projects, and procurement though integration which improve collaboration for better subcontractor utilization and reporting
Delay in submission of application for payments has been reduce. Significant Time savings between Commercial and Finance Team
Easy-to-use subcontract entry to manage the details of the contract, including contract terms, lump sum and unit-based contracts, contract scope, and retainage
Easy-to-use subcontract entry to manage the details of the contract, including contract terms, lump sum and unit-based contracts, contract scope, and retainage
Payment's applications are done through excel where it is easy to manipulate data and no facility to have concrete proofs.