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ProMart Functionality

Solving Complex Calculations with ProMart Logic

Ascent ProMart© Application has been built with a fuzzy logic in the backend to cater to all the complex calculations required for RERA validations and approvals.

Some of the functionalities include:

  • Unit Level Manageability & Reporting for all receipts – Drill down up-to unit level
  • Unidentified Funds Allocation
  • Drill down available for each payment, as per category type & RERA requirements
  • Duplication Check for Entity / Project Registration – Offers single view of each entity and avoids duplication for perfect reporting
  • Fuzzy Logic Built in to meet all the RERA validations on payments
    • Project Management Payment
    • Construction Cost Payment
    • Sales & Marketing Cost Payment
    • Brokerage Payments
    • Bank Charges Payments
    • Reimbursement Payment
    • Cancellation / Refund Payments
    • Payments on written RERA Approval Etc.
  • All scenarios can be addressed required by RERA. A complex logic is built in the system to seamlessly address all the critical scenarios such as:
    • Performance Bond
    • Cancellation of Unit
    • Re-sale of Unit
    • Refund on Cancellation
    • Reimbursements
    • Joint Owner
    • Single Owner buying Multiple Units
    • Retention Calculations
      • Fixed Retention
      • Flexible Retention
    • Project Progress & Milestones
    • Quality Surveyor – Update Work Status
  • Receipts and Voucher
    • Receipts creation and Reconciliation (In built reconciliation Engine)
    • Voucher creation and Reconciliation (In built reconciliation Engine)
  • Reporting (In Built BI Tool to cater to any internal or future RERA reporting requirements)
    • All RERA Reports
      • Project Revenue & Cost
      • Sales & Collection Reports for Sold Units
      • Units Cancellation Report
      • Payment Breakdown Index
      • Strategic Partner Representatives Details
      • Project Status Report, including details of total balances for each of the accounts assigned to the project, total disbursements, deposits received and project completion status.
      • Buyer / Unit List
      • Buyer / Unit Payments Report including details of each unit and payments made for each unit
      • Reconciliation Report including un-matched or un-reconciled transactions Reports
      • One single report containing all receivables and payments account wise (at a Project level)
      • Annual Audit
  • Role Based Access Control
  • Complete Audit Trail and log available
  • Upstream and Downstream integration with core banking and any other internal systems
  • LDAP integration for robust security
  • Admin and Design Module available for generation of Ad-Hoc Reports and user manageability