Tech Challenge
TechChallenge was organized by the Hong Kong Monetary Authority,
the Property
Management cluster
Co-investors & get
better leverage
solution built for
Managing Agents
funding.
SeaProp : digital eco-system platform for property management community
SeaProp is our flexible digital cloud-based platform AND an integrated funding solution that delivers a complete digitalized Procure-to-Pay & Order-to-Cash solution for Managing Agents (MAs), managing bodies of strata developments – Management Corporation Strata Title (MCSTs) and their Vendors on a SINGLE platform. This solution won the Most Impactful Project Award at TechChallenge 2020.
- MAs can manage their customers, MCSTs, in a seamless manner on SeaProp. This includes virtual approval workflow, budget tracking and audit trail.
- Vendors gain immediate access to affordable capital while utilizing SeaProp’s e-invoicing capabilities and integrated processes within the platform.
- MCSTs of condos and/or commercial properties can optimize their excess funds while enjoying SeaProp’s accompanying benefits of digitalization of the approval processes and e-payment feature with increased transparency, ease and cost-savings.
SeaProp : delivering award-winning user experience and value
Gives full control and visibility to the transactions being executed.
Beyond the many benefits of digitalization, SeaProp is custom designed to serve specifically the property management community to optimize their daily operation and financing requirement. In every functionality, it serves the unique operation and workflow of the different user group in this community.
- Functional and simple user interface that gives full visibility and streamlines virtual workflow processes to increase user productivity and satisfaction. All activities are traceable with audit trial.
- MA can enjoy substantial reduction in time and effort to complete tasks in the digital procure to payment process, including budgeting, RFQ/RFF processes, vendor tracking and performance, approval of invoice payment and reconciliation.
- Vendor can enjoy contract management, easy e-invoicing that reduces error and time, and track payment cycle. Also, vendor can by choice select invoice financing and obtain funds the next day to help their business cashflow at time of need.
- MCST have complete visibility on transaction flows, vendor performance, ease of instant information retrieval, analysis and reports, as well as saving costs via e-payment.
Inbuilt Cloud-based e-Invoicing and e-Payment system
Our Supply Chain Financing solution relieves cash flow strain and suppliers get a quick, painless access to funds tied up in their unpaid invoices at preferential rate from pre-arranged financing sources.
The module provides full visibility to invoices pre-approved for payment, enabling suppliers to opt for early payment at a favourable discount compared to financing they could receive on their own.
Buyers benefit from more flexible payment terms and reduced working capital requirements.
- Buyers can extend payment terms to generate cash flow
- Suppliers gain quick and affordable access to capital
- Full visibility on invoice and payment cycle
Flexible for integration with 3rd party software/platform
For organization with existing software or system, SeaProp can be integrated seamlessly for automated transfer of data to increase the overall usability and functionality. This flexibility is highly beneficial for any organization in their growth plan, and cater to its unique operational requirements.
- Example of common software or systems that would be integrated are RFQ and accounting software and services.
- Single-sign-on for ease of switching from one platform to another, and seamless user experience gives user much convenience.
- Data integrity and mapping can be achieved on SeaProp.
Scalable to cater to expanding future needs
In progression of business growth and/or expansion of the organization’s technological needs, SeaProp has ready service modules that can be made available to support new and expanding requirements.
- Inventory & Asset management allows items to be tracked and properly managed as an integrated suite of services on SeaProp.
- Maintenance management sets schedule of work reminders, allows digitizing of information and details of inventory or property maintenance works that help to improve performance.
- Support and ticketing system that allows for residents to raise issues digitally and have it tracked to completion / closure.
PEPPOL ready hosted solution for the cluster.
Complete end-to-end digitalized workflow that provides PEPPOL ready ERP capability to the parties in the cluster. Which means that SeaProp system can work with your existing Accounting systems seamlessly
- Peppol ready procure-to-pay solution for the buyers (Eg. MCSTs), that can take a feed from the current purchasing process (or RFP/RFQ process) and take the workflow to completion
- Order-to-cash solution for the Vendors & Suppliers that allow them to manage contracts and invoice directly. They can also choose to be funded on these invoices automatically. These E-invoices can be sent over to their customer’s ERP or accounting systems directly.