Honest Buildings Extends Platform for Owners to Track Lifecycle of Construction Projects

NEW YORK, Sept. 22, 2016 /PRNewswire/ -- Honest Buildings has extended its platform in a way that is fundamentally changing the way real estate project management teams work by introducing a new collaborative contract and invoicing management portal. Adding to its procurement and cost tracking solutions, the expanded platform integrates several processes that owners, managers and operators traditionally accessed through disparate systems. Honest Buildings' unified platform allows owners real-time visibility and collaboration, leading to accelerated project timelines.

The new contract portal streamlines the invoicing process, allowing owners and managers to approve invoices submitted by vendors, giving both sides real time knowledge as to where each statement stands. The feature saves hours of time normally spent searching for files from emails, shared drives and spreadsheets as the platform houses not only invoices, but also change orders and contracts for a project in a centralized location. Instead of exchanging documents, all communication between a project team happens within the contract portal, moving a project along faster and with greater visibility than using traditional spreadsheet-based workflows.

"Honest Buildings allows everyone on my team to get immediate status updates on all of our projects without the delay of waiting for a weekly meeting," says Michael Fransen, Senior Vice President, Managing Director, Parkway Properties. "At all times we know which projects are on time and on budget and which ones need attention."

The new contract portal is not only bringing further valuable functionality to existing customers, but is also widening the audience of prospective customers for Honest Buildings to any owner looking to mitigate risk and gain time to dedicate to true project management problem solving, instead of tedious administrative data entry and tracking.

"Seamlessly transitioning from the bidding process, the collaborative contract portal provides visibility into and control over building owners' and managers' project spend, ultimately powering profitability," says Geoff Lewis, Vice President of Product of Honest Buildings. "Honest Buildings is the ideal solution for gathering and analyzing important business data, and is now optimized to keep everyone on a project team, from asset managers to property managers, project managers, accounting and assistants, on the same page."

Thousands of projects are being bid and tracked through Honest Buildings' intuitive procurement and project management platform. Utilized by industry leaders like SL Green Realty Corp., Related Companies, Invesco, Parkway Properties, and The JBG Companies, the software has become the trusted solution to mitigate risk, especially around construction related financial exchanges, documents and approvals.

"Bank-level security is also at the core of our product as it's built by a team of engineers who have created complex platforms for leading global investment management firms, including Goldman Sachs," says Adam Fleming, Vice President of Engineering of Honest Buildings. "The acceleration of projects in a secure and more efficient manner lines up with our overall mission to accelerate urban progress by empowering collaborative, data-driven decision making, project by project, building by building, and city by city." 

About Honest Buildings
Honest Buildings is the leading intuitive, data-driven project management and procurement platform built for commercial real estate owners and managers. Founded in 2012 by Riggs Kubiak, the platform serves industry leaders like SL Green Realty Corp., Related Companies, Invesco, Parkway Properties, and The JBG Companies, which use Honest Buildings to centralize project data, increase transparency, automate bid management, and standardize reporting. Owners rely on the platform to manage over $1 billion in total project value. To learn more about Honest Buildings, visit: www.honestbuildings.com.

Media Contact
Crystal Proenza | VP of Marketing
Honest Buildings | (347) 329-1523
[email protected]

SOURCE Honest Buildings