by Brianna Crandall — May 15, 2015—Honest Buildings, the online management platform for commercial real estate projects, recently unveiled Honest Buildings for Owners, said to be the first-ever online software for building owners and project managers to track and analyze procurement processes throughout their entire portfolios. Honest Buildings for Owners is designed to drastically streamline day-to-day project management activities, and will integrate with Honest Buildings’ existing online real estate marketplace, which has originated nearly $600 million in building projects to date.
Using the intuitive software platform, owners and project managers can track critical project marks including bids received, key dates, and insight into project manager workload.(Click on image to enlarge)
Honest Buildings for Owners’ cloud-based, Software as a Service (SaaS) suite delivers a simplified set of tools that organize a user’s entire expanse of building and construction data, providing clear insights on project bids, associated costs, vendor selection, and internal efficiency. Aggregating entire portfolios of buildings and projects into one vendor management system reportedly empowers owners and project managers to make informed, contextualized decisions when bidding a project of any size.
Using the intuitive software platform, owners can track critical project marks including bids received, key dates, and insight into project manager workload. Honest Buildings for Owners’ centralized dashboard replaces the disjointed e-mail and spreadsheet-based processes owners often use, enabling them to more quickly identify inconsistencies and inefficiencies in project bidding and spending throughout a portfolio.
Honest Buildings for Owners also introduces new bid rooms, which serve as one-stop hubs for collaboration with vendors and internal stakeholders. These hubs virtually eliminate the need for excessive e-mail or phone communications with individual vendors.
According to Honest Buildings, early adopters of its latest technology include some of the New York area’s most forward-thinking owners and operators, including Kushner Companies, Benchmark Real Estate Group, WeWork, Madison Realty Capital, Cayuga Capital and Megalith Capital Management. Each company has fully onboarded its portfolio of buildings and projects onto the central dashboard, enabling access to the software’s complete set of management tools and market data, says the company.
Based on a subscription service, Honest Buildings for Owners is fully integrated with the company’s existing real estate marketplace, which provides a simple Web-enabled platform for building professionals to create free, online portfolios of their work. From there, the marketplace is able to run custom searches on behalf of real estate decision-makers and produce detailed evaluations of experienced and relevant specialists, each accompanied by service ratings, project history, and bidding trends.
The combination of Honest Buildings for Owners and the real estate marketplace creates an efficient, enhanced process for building owners and occupiers to quickly and thoroughly compare, vet, and select the most relevant building professionals for the specific requirements of their projects, realizing significant time and cost savings through smarter procurement decisions and enhanced workflow management.
Launched in 2012 and poised to become a new standard in operations, design and construction, Honest Buildings has secured $11.5 million in funding to date from investors including Thrive Capital, Westly Group, and RockPort Capital. Greentech Media’s Efficiency channel described Honest Buildings as “like LinkedIn for the real estate market, connecting building owners, architects, engineers, contractors and other building services,” noting that its growth “coincides with a growing legislative push for buildings to disclose energy benchmarking information.”
