We agree, case studies tend to be long and boring. So we’ve put together a concise case study that WE would want to read. Below we look at how eProcurement yielded significant dollar savings and efficiencies for a multifamily housing manager.
4 Ways eProcurement Delivers Savings
A midwest based apartment operator with 25 properties under management had negotiated contracts with vendors to cover all maintenance, repair, and operational (MRO) expenses. As the portfolio grew, it became increasingly difficult to ensure that property managers were purchasing items from the approved vendors. Further, it was proving difficult to track and ensure that agreed upon vendor pricing was being honored when property managers did purchase from the selected MRO suppliers.
Purchasing Platform analyzed real invoices from the operator and compared to pricing they would pay on the site. We analyzed 6 months worth of spend that totaled $245,000.
The results were impressive:
420 unique products analyzed – 92% showed savings on Purchasing Platform
Total dollar savings was 13.3%
Annualized, this client will save $65,170 using Purchasing Platform
Our client was initially drawn to Purchasing Platform for the efficiencies our system provides. These include a centralized vendor marketplace, spend thresholds that allow for supervisor approval on orders, and the ability to download reports that gave them a real time view into property level spending. Below are 4 ways eProcurement delivered savings for this property manager:
- Group Buying Power – Leveraging the collective purchases of the members, Purchasing Platform delivers significant dollar savings across MRO supplies.
- Shipment to the Property – Maintenance staff and property managers were no longer running to multiple stores which eliminated gas/vehicle expenses and wasted man hours.
- Increased Productivity – Staff remained onsite longer where they are able to better assist residents and accomplish more during the day.
- Accounting – Reconciliation and expense classification became a breeze for both accountants and property / maintenance staff.
About Purchasing Platform
Purchasing Platform is a Chicago based company that offers eProcurement for Property Management companies. Purchasing Platform aggregates all vendors into a centralized marketplace, offers significant product discounts, provides a single point of checkout, and arms the operator with powerful tools to monitor and control spend in their portfolio. Since 2012, Purchasing Platform has simplified the buying process and saved companies time and money. Contact us to learn more.