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A multi-vendor ecommerce portal designed for property management companies that allow them to register their different properties and assign a monthly or GL Code level budget to it. ESS gives properties the ease to purchase items from different vendors within the allotted budget that will be tracked by the system according to their purchase order.
In the case of an over budget, the portal sends a notification to the company that can be either approved or rejected accordingly. The property managers can also modify the budget according to the GCode of the product. ESS is a closed system where companies have to register to be able to use it and have the option of selecting vendors according to their needs and specifications.
Following features were incorporated in the ESS portal:
No controlled method to restrict rogue spending to unapproved suppliers or to increase budget compliance.
A purchasing program was established by collaborating with the customer that involved working on their national contracts with their respective approved suppliers. The client narrowed down to 12 properties with features that included customized product catalogs, vendor restrictions and budget controls by GL Code.
The performance of the companies utilizing the budget compliance feature of the eSupply Systems improved drastically. Within a year, the annual budget variance improved from 15.4% over budget to 5.1% under budget. The delta was more than $124,000, which created an additional $2,480,000 in asset value (5% cap rate) for their clients.
Maintaining consistency of paint products across the customer’s portfolio.
The account management team engaged with the client to understand their paint purchasing requirement and analyzed their last two years paint expenditure. The result of the findings showed the customer was overspending by purchasing over 350 different paint and primer products from a variety of brands at the site level.
A paint standardization program was developed in partnership with different paint suppliers. The program was involved in re-negotiating the paint prices with the paint supplier on approved national brands where eSupply Systems platform was used to implement purchasing controls. As a result of this standardization program, the approved paint SKUs were reduced to 81 (77% reduction), and the customer made savings of $34,000, which created an additional $680,000 in asset value (5% cap rate) for their clients, over the first 12 months.
A reporting application was designed specifically for ESS that provided in-depth analysis and insights into the working of the ESS portal and a dashboard to track performance. Reports generated by the application included online vs. offline orders, standardization, order quantity, unit allocation, budget specifications, etc. The companies could monitor and keep a record of their monthly purchase and better understand the role of different vendors through KPI metrics.
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