An online tendering service for the UK property and facilities management sector is to be launched by the end of this month. The Virtual Property Market has been created by ex-Knight Frank Partners John Costello and Andy Taylor, and former property manager of Thus plc, Brendan Morris.
Explaining the new e-tendering service, Costello said: “Were bringing together clients and suppliers in a far more efficient and economic way, reducing the unit cost per transaction by utilising the power of the Internet. The software developed by the Virtual Property Market provides secure audit trails on tenders placed and will reduce the time taken to carry out the due diligence and selection of suitable supplier companies.
“As an information-led sector, the industry is perfect for this type of initiative. Knowledge is key, and suppliers will undoubtedly benefit from a single source of leads and access to a wider range of clients.”
The launch follows a six month trial period during which over 70 companies such as Motorola, National Australia Group, MEPC, Scottish Life and Scottish Enterprise prepared a series of online fictitious tenders which were bid for by supplier companies including EJ Stiell, Jones Lang Lasalle, Insignia Richard Ellis, and Turner Townsend.
Fund manager of The Scottish Life Assurance Company, Iain Whiteford, commented: “The Virtual Property Market provides access to a wide range of suppliers who carry out specialist work in the industry such as valuations, building surveys and property management.”
Douglas Smith, director of Insignia Richard Ellis, one of the suppliers involved in the pilot phase, said: “Our long-term business strategy is to maximise the potential of new technology when it comes to improving the level of communication with our clients. The pilot phase has shown that VPM has the potential to be an important link between clients and suppliers for certain types of contract.”
–Jessica Jarlvi
Reprinted with permission; copyright 2001 i-FM
