Matthew Burnham, COO, CBRE Property & Asset Management, talks about implementing PROACTIS eProcurement and how it has benefited their business.
CBRE Property & Asset Management operates out of 12 UK offices with approximately 460 employees, the team manages 1,300 properties and delivers service to 12,000 tennants. They demand and collect rent and service charges of more than £1.3 billion each year. In terms of procurement, they have an annual spend approaching £200 million, with over 2,000 suppliers and over 10,000 invoices per year.
CBRE faced a number of challenges which lead to its selection of PROACTIS eProcurement; the need to operate their investments to maximise long-term value and reduce exposure to risk and financial shortfalls. PROACTIS has proven to be the solution of choice for CBRE because it offers visibility of exactly what they're doing with their suppliers - what they're buying, how much they're spending, delivery performance etc. That's enabling CBRE to proactively identify and resolve issues, and to work towards obtaining even better value with their contracts.
In addition, CBRE is now able to receive a high percentage of invoices electronically. That plus the use of purchase order matching and workflow to verify service delivery by the originator, has greatly reduced paper-based processing and enabled the AP department to significantly increase control of the payment process.