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