Digitalization Journey with Property365

Alfaland Group is a property and real estate management company in Indonesia. It is an esteemed Group that covers four different sectors (Property Management, Property Development, Construction and Hospitality Management) with approximately 30 business units under Property and 12 business units under Hospitality.

In 2019, the Group launched its digitalization journey using IFCA’s Property365 to transform their operations. With Property365, the Group was able to integrate the management of residential and commercial properties with their finance and accounting processes, matrix approval budget control process as well as their procurement processes into a one-stop property management solution. The Group was also able to aggregate information from internal systems as well as third party platforms to deliver consolidated reports within one system.

From digital record-keeping to real-time updates of leasing and sales information, Property365 was able to cater to the Group’s requirements and improve business performance across the Group’s various business units.

Rental & Tenancy management with Property365

PT Supermal Karawaci is the largest shopping complex in the Lippo, Karawaci district and one of the biggest malls west of Jakarta. It is the only mall in Indonesia that encompasses an e-center, 3 hypermarkets and 4 residential towers. It is a major destination for shopping, dining, entertainment and community activities in the area.

In 2011, PT Supermal Karawaci selected and implemented IFCA’s Property365 as their property management solution of choice for the sale of their residential towers. Subsequently, PT Supermal Karawaci purchased IFCA’s Lease365 solution for the management of their tenancy and rentals in the malls, e-centers, and residential apartments.

With Property365, PT Supermal Karawaci was able to effectively manage the sale of their U Residence Tower Apartments from the Nomor Urut Peminant (NUP) balloting process, to the selection of units, booking, sales and purchase agreement (SPA), management of payment schedules as well as the provision of sales reports and accurately, timely financial analysis. Similarly, Lease365 enabled them to better manage their tenancy and rentals resulting in higher rental net yields whilst also improving customer service, procurement and inventory control.

Automate project finance accounting with Contract365

Pakuwon is a prominent property developer and an established brand name in Jakarta and Surabaya. With over 38 years’ in the real estate development industry, it has an impressive portfolio of properties including numerous retail, residential, commercial and hotel developments. Pakuwon is also the pioneer of the ‘Superblock’ concept in Indonesia – a large-scale, mixed-use development of shopping malls, offices, condominiums and hotels in one.

Pakuwon began using IFCA’s Contract365 system in 2010 as it caters well to the requirements of their contract management lifecycle. For example, the system offers revenue recognition according to PSAK and IFRS which allowed Pakuwon to automate aspects of their project financial accounting including cost budgeting, progress billings and claims, purchase orders and so on. Additionally, the system also tracks credit-checking activities in the Akad Kredit process, mortgage approval statuses, billings and disbursements – centralizing all key information in one system for more effective management.

With Contract365’s versatile provisions for advances and debt repayment features, Pakuwon was also able to facilitate quicker and more accurate contract transactions between sub-contractors, suppliers, consultants and creditors. This, in conjunction with the holistic project finance oversight from the Contract365 system, contributed to more successful project completions and more profitable developments.

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