GuocoLand seeks to streamline procurement and payments for developments

By Charlene Chin / EdgeProp Singapore | August 3, 2021 5:18 PM SGT
Meyer Mansion (Credit: GuocoLand)
Join our  Telegram  channel and follow our  Facebook  for the latest update.
SINGAPORE (EDGEPROP) - Developer GuocoLand has partnered with OCBC Bank and local fintech company Doxa to develop and build an end-to-end digital workflow solution to streamline the procurement and payments processes for development projects. (See also: Guoco Tower wins FIABCI World Prix d’Excellence Award)
Slated to be ready in October this year, the platform will connect property developers and other parties — banks, contractors, suppliers and consultants — in the built environment value chain.
On the platform, contractors will be able to use the platform to create and send e-invoices to developers; architects and external consultants will be able to carry out the required certification via an e-certification process; and developers will be able to send both the e-invoices and e-certifications to their banks to trigger payment.
ADVERTISEMENT
The platform will also allow the developer to convert quotations into purchase orders, and generate cost analysis reports, thus providing them with a more timely overview of their cash flow.
GuocoLand intends to trial the platform for Meyer Mansion, its luxury freehold condominium project.
Check out the latest listings near Meyer Mansion

Follow Us
Follow our channels to receive property news updates 24/7 round the clock.
EdgeProp Telegram
EdgeProp Facebook
Subscribe to our newsletter