Smart Contract App Transforms Construction Industry

A construction company streamlined operations, enhancing efficiency and client satisfaction

7

Days, new astonishing construction timeframe from lengthy 45 days

20%

improvement in project schedule adherence and efficiency

30%

fewer compliance incidents, 25% greater efficiency in regulatory compliance

Quick Solutions Overview

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Industry

Construction

Location

USA, Italy and
China

Solution

Smart Contract App

Technology Used

Microsoft Dynamics 365 Finance and Operations, Microsoft Dynamics 365 Commerce, Power Platform

About the Company

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Our client is a startup disrupting the construction industry by digitizing key aspects of build and payment processes. This exercise was to facilitate immediate payments to contractors based on milestones and provide an immutable audit trail for compliance.

The Challenges

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Delays in invoice processing led to increased project costs and contractor overheads. Lack of a proper audit was causing confusion and hindering validation of work.
Smart Contract Case Study

The Solutions

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A Smart Contract App was meticulously crafted with the purpose of streamlining and automating the entirety of construction processes from inception to completion. Leveraging the robust capabilities of the Microsoft Power Platform in conjunction with Blockchain technology, the application ensures seamless integration and maintains immutable records, fostering transparency and trust throughout the construction lifecycle.
To further enhance functionality and efficiency, Microsoft Dynamics 365 Finance and Operations, Commerce, along with Power Pages/forms, were meticulously configured, enabling comprehensive management of financial transactions, operational logistics, and intuitive user interfaces.
Through the synergistic combination of these innovative technologies, the Smart Contract App revolutionizes traditional construction practices, offering a dynamic solution tailored to modern demands.

Key Features of the solutions offered:

  • Smart contract configuration and project creation.
  • On-site inspections with checklist and e-signature.
  • Blockchain integration for immutable record-keeping.
  • Inventory and product management.
  • Cost management and dashboards/reports.
  • Role-based access control.

The Benefits

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  • Accelerated Construction: Reduced payment processing time from 45 to 7 days, enhancing project efficiency.
  • Improved Visibility: Enhanced project tracking and schedule adherence without compromising on-site inspections.
  • Immutable Audit Trail: Blockchain integration ensures a secure, transparent record of project phases, milestones, and payments.

What the Client Said

“Korcomptenz's Smart Contract App, is an innovative fusion of Microsoft Power Platform and Blockchain technology, revolutionized our construction operations. Through seamless integration with Dynamics 365, the app has significantly streamlined our payment processing, reducing it from a cumbersome 45 days (about 1 and a half months) to a mere 7 days. This acceleration has not only expedited our project timelines but also brought about a new level of transparency and efficiency. Throughout this transformative journey, Korcomptenz has been an indispensable partner, providing invaluable support and expertise at every turn.”

Deliverables

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With Dynamics 365 Field Service, scheduling preventative maintenance and repairs became 33% more efficient.

Improved project visibility and tracking.

Enhanced compliance with immutable audit trail.

Technology consulting, guidance, and cloud/licensing cost optimization.

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