The safe way to construction success
Construction project plans can often involve large sums of money, sometimes several million euros. The greater the resulting financial risk for the ordering party and the contractor, the greater the need for financial protection. Retentions and guarantees of payment that regulate the case of non-fulfillment of contractual obligations or the assertion of warranty claims are common in connection with construction contracts.
With the PROMOS solution, financial protection in the form of retention and guarantees of payment can be recorded conveniently and the relevant claims calculated at the same time. The tool is also linked to various other areas of your SAP® system, so that the information is available exactly where you need it.
Guarantees of payment and retentions can be recorded as part of the order management, and are then available as information in the construction account. The claims are calculated in the course of invoice verification. The tool also allows for automatic posting of retentions as a vendor liability (G/L indicator). Payment of retentions (e.g. furnishing a guarantee of payment) is also supported.
The parked retentions are presented in easysquare workflow, which thus makes monitoring easier.
A distinction can be made between different types of retentions via customer-specific settings as part of customising.
System integration: PROMOS retentions allows users to map retentions and guarantees of payment in their SAP® systems and thus to provide information transparently for other areas and users.
Efficiency: Information relating to retentions and guarantees of payment can be called from the construction account at the press of a button and does not have to be compiled manually or taken from paper files.
- Accounts payable
- SAP® ERP