NAI/Merin Hunter Codman, Inc. announced that it has completed the pilot testing of the eBid eXchange technology platform that is expected to dramatically improve how commercial real estate supplier services and management contracts are selected.
The e-procurement solution helps streamline procurement for materials, services, and construction related to property management to reduce the administrative time by over 60%. The system allows prospective vendors to self-register and submit electronic bids for contracts online, drastically reducing administrative work for vendors and NAI/Merin Hunter Codman’s property management professionals.
“Our property management e-procurement system is allowing us to increase competition for our clients’ materials and services procurement while cutting administrative time by over 60 percent,” said Jordan Paul, CEO of NAI/Merin Hunter Codman. “The result is incredible savings that are ultimately passed through to our building owners.”
“NAI/Merin Hunter Codman is a pioneer among property management firms,” according to eBid Systems President and Founder, Keith Jones. “We’re impressed with how the company embraced the approach and the technology to drive increased savings for their customers.”
eBid eXchange is a software-as-a-service by eBid Systems, a Washington state-based provider of e-procurement solutions. The firm’s systems are used daily by over 300 procurement organizations in diverse fields including utilities, transportation, construction, and local government. NAI/Merin Hunter Codman entered into a pilot testing agreement with eBid Systems to prove e-procurement would deliver saving for property managers. During the pilot phase, Mr. Richard Havens, Director of Property Operations at NAI/Merin Hunter Codman, worked closely with eBid Systems to adapt eBid eXchange to meet the unique requirements of commercial real estate property managers.
The new NAI/Merin Hunter Codman supplier portal allows property managers to post procurement needs online for all types of products and services including a multi-trade office suite build-out and required electrical, HVAC, and painting services. Extensive use of templates helps save time and creates greater consistency among property managers. Vendors and contractors can self-register to bid for specific elements of this work online, including uploading license information, responding to requests for information (RFIs), and downloading project plans and specifications. With automated bid analysis features, NAI/Merin Hunter Codman property managers can quickly rank top qualified vendors. Previously, all of these steps were done manually and involved a cumbersome, expensive, and time consuming paper-based process.
“The next step is to incorporate service contracts management,” said Richard Havens, Director of Property Operations at NAI/Merin Hunter Codman. That could include landscaping, HVAC maintenance, janitorial contracts and the like and will include digital notice of soon-to-be expiring contracts and Certificates of Insurance. The module will also allow property managers to track change orders, which adds to the annual/monthly cost of service contacts. “Our contract management will become turn-key so that we will always be one step ahead of our clients’ property management needs.”
Added Jordan Paul, “The eBid eXchange system that NAI/Merin Hunter Codman has developed will accelerate our position as a leader in commercial real estate property management.”