One of the nations largest real estate services companies, Insignia/ESG, has selected SiteStuff.com as its Web-based procurement source. The agreement will entail converting Insignias traditional manual procurement processes to a Web-based system for the purchase of maintenance, repair and operations (MRO) products and services. Through online procurement, Insignia plans to streamline sourcing of MRO products and better track company spending. According to SiteStuff, their ability to leverage the buying power of companies with multiple properties can result in significant savings in transaction costs.
Since the launch of its purchasing-capabilities store in June 2000, SiteStuff has established a large customer base including Jones Lang LaSalle Inc., CB Richard Ellis, Trammell Crow Co., and Lend Lease Apartment Management. SiteStuff recently acquired RexOffice.com, Inc., an Internet-based building operating system that connects commercial office buildings and property managers with their tenants. The RexOffice platform will allow SiteStuff to provide a password-protected extranet for building owners and managers to store and share files and reports, and enables buildings to create their own web site—streamlining communications. Insignia/ESG, a subsidiary of Insignia Financial Group, Inc. provides management and leasing for more than 230 million square feet of commercial real estate across the United States. An affiliate of Insignia/ESG also invested $735,000 in SiteStuff.
