Real-time Information Flow and Optimized Information Management

Real-time information sharing is crucial for banks and financial-institutes to make informed decisions regarding project financing and monitoring. BcStep's ability to provide consistent and up-to-date information throughout the project lifecycle ensures that all stakeholders, including financial-institutes, have access to the same data as other project teams. This level of transparency and accessibility can greatly improve collaboration and decision-making, even as new teams join the project at later stages.

BcStep's comprehensive approach to managing various aspects of construction projects, including drawing, cost, timeline, purchase, contract, billing, and quality, optimizes information flow and enhances project execution. By guiding users through necessary steps and ensuring adherence to required sequences, BcStep contributes to timely completion and the delivery of high-quality products. This level of control and efficiency not only benefits the project stakeholders but also adds significant value for banks and financial-institutes by reducing risks and ensuring the successful completion of financed projects

With BcStep's functionality to share both drawing delivery schedules submitted by project design teams and all ‘Good For Construction’ drawings/details issued by those teams to the project execution teams, financial-institutes can precisely monitor which drawings the project execution teams are working on. This level of detail allows banks and financial-institutes to track project execution right from the activity start level, providing them with valuable insights into the progress and dynamics of the project.

Monitoring of Developer & Contractor’s Material & Contract Management

Banks & Financial-Institutes needs constant updates about status of Materials being procured & Contracts being awarded in the projects to track the estimated cost of project and maintain cash flow in the project financing process. As office-team & site-team regularly uploads & tracks BOQ, MRSs, POs, Supplier’s Delivery Details, Site-Store receipts & Issued data etc during their project execution process, banks & financial-institutes too gets the same details without following-up or asking anyone. All contract documents being closed & shared between developers & contractors also get shared with financial-institutes without any delay for their required process thereafter. Quantity Reconciliations of materials & project-works are also readily available for them to analyze and track all completed project activities.

BcStep's streamlined data sharing process ensures that the information being shared among project planners and executioners is also accessible to financiers, including banks and financial-institutes. This seamless sharing mechanism enhances transparency and facilitates better-informed decision-making for all stakeholders involved in the project

Tracking of Signing of Quality-Checklists & Testing of Materials

BcStep's comprehensive approach extends to addressing concerns about timely testing and monitoring activities at the site. Invoicing prompts the site team to sign checklists, and the checklist signing prompts the upload of test reports, curing details, ponding reports, and other relevant information. This ensures the enforcement of all required quality processes throughout the project lifecycle. Contractors are promptly informed of any instant quality matters and snag points, which are tracked until satisfactory resolution

Moreover, architects, consultants, and visiting faculties can effortlessly report quality matters through the platform. All such data maintained at the site is seamlessly shared with financial-institutes, enabling them to extend their monitoring and control over project activities effectively. This integrated approach enhances transparency, accountability, and quality assurance across all project stages.

Tracking status of Invoice Certification

BcStep's streamlined process for submitting and tracking invoices removes the necessity for banks and financial-institutes to navigate multiple contacts within client organizations to obtain accurate and timely data. By offering visibility into the entire invoice certification process, BcStep ensures that banks and financial-institutes receive all necessary details of material and contract invoices promptly for further necessary actions. This heightened level of transparency throughout the submission, certification, and payment release process fosters greater confidence among all parties involved in the transactions

Various Reports

Banks and Financial-Institutes require detailed reports, such as site inspection reports signed by architects/consultants, as well as daily work reports and monthly progress reports, to monitor project activities and to track delays. These reports provide insights into the quality of work being done and the progress of the project at various stages

Utilizing blockchain technology (BcStep) for maintaining high transparency in data and information flow between financial-institutes, developers, and contractors can significantly boost confidence in the project teams' actions. This enhanced confidence leads to quicker decisions regarding fund flow by financial-institutes. As projects progress faster with this level of transparency, it positively impacts buyers' perceptions, resulting in better sale results due to the assurance of project progress.

Adopting BcStep for project tracking and monitoring can lead banks and financial-institutes to experience a "never experienced better" feeling. The enhanced transparency, streamlined processes, and detailed insights provided by BcStep can significantly improve decision-making, confidence, and efficiency in managing projects, ultimately leading to a superior experience for all stakeholders involved.