Construction Finance Management & Monitoring Software Solutions
Experience a new era of construction finance management with our futuristic software solutions that empower you to stay ahead of the competition.
Project Overview
In order to enhance customer experience for their Builders and Construction Companies segment, two prominent lenders (bank and NBFC) in India sought assistance with their Construction Finance Management Software. Despite having a robust LMS, they faced challenges in managing requests and compliances effectively. Additionally, the lenders aim to implement a monitoring system to closely track business KPIs, NPA, and ensure strict compliance with regulatory requirements. Find out how our Construction Finance Management Software helped them overcome these hurdles and optimize their operations efficiently.
The Challenges Faced Without Servoy’s Construction Finance Management Software Solutions
- No system was in place to digitally issue NOC and asking for the disbursement of trenches were increasing TAT.
- A cumbersome effort is required to generate a Credit Appraisal Letter (CAL).
- Absence of a centralized reporting system to upload reports from various stakeholders.
- No real-time trace of business KPIs.
- Paper-intensive processes were requiring more manpower and causing extra delays in the disbursements and that was accounting to poor customer experience.
Solutions Offered By Servoy’s Construction Finance Management Software Solutions
- Servosys provided CF Loan Origination & Monitoring System on its platform such that the end-customer of the bank could request for NOC issuance and ask for disbursement of a tranche from the comfort of his office.
- Multiple reports for visibility of business and decision support system, viz. Breakeven Point vs Actual Sale.
- Management of cases like multiple projects under singe builder.
- Capitalization of all customers in one-go (a file generated by the system allows their banker to bifurcate payments).
- Early warning systems for minimizing NPAs (thru multiple reports).
- Auto-generation of Sanction letter and CAL (Credit Arrangement Letter)
- Centralized system for uploading of reports from various stakeholders and management of compliance, viz. RERA.
Major Benefits Of Servoy’s Construction Finance Management Software Solutions
- Growth in disbursement went up from single digit to triple digit after the deployment of Construction Finance Management System.
- Compliance management and monitoring team requirements reduced from 12 FTEs to a mere 2-3 FTEs.
- Achieved higher customer satisfaction owing to single-day disbursement TAT (which was at least three days previously).