At Buyers Access, we translate years of experience and proven expertise into quantifiable results. Sample the case studies below to see how we've helped our clients find exceptional, comprehensive purchasing solutions that meet their property’s needs.
Client Saves $81K Resulting in 12% Reduction in Flooring Expense
Case Study – Floorcovering Standardization: Multifamily Group Purchasing
Client: Property Management Company of 5,400 units
Savings: $81,000 per year and 12% reduction in flooring expense
The Executive Team of a Property Management Company (Client A) searched for ways to reduce expenses, ensure product consistency, and streamline purchasing for their floorcovering needs across its portfolio of properties which included 5,400 units. Lacking guidance by flooring suppliers on which products to purchase and inconsistent pricing, their challenge was to find the best method to reduce costs and develop a consistent floorcovering program in product and service. To address this challenge, Client A’s Executive Team and group purchasing experts Buyers Access worked together with the key decision maker, their Director of Operations, on their current floorcovering program. Collectively they went on to identify obstacles and recommend solutions that bring uniformity, and cost reduction to a new flooring program.
Buyers Access recognized that inefficient standards were in place
Identified the unique characteristics of the portfolio
Identified and analyze market trends to identify carpet specifications
Specifications were chosen to result in higher return on investment
Case study illustrates how Buyers Access partners with its clients and truly works alongside them to achieve their financial and operational goal
Portfolio is now uniform in product options, performance and price
Floorcovering costs are currently managed more effectively and operations are greatly improved, which created a savings potential and increase in real estate value
Client Saves over $11,000 in First Quarter, Resulting in a 42.6% Reduction in Faucet Costs
Case Study: Kitchen/Bathroom Faucet Standardization for Multifamily Group Purchasing
Client: Property Owner/Management Company with 10,600 Residential Units
Savings: $11,000/Q1 and a 42.6% reduction in faucet expense
Owner/Manager on the east coast with over 10,000 units wanted to standardize, and consolidate product selection. Due to company growth from recent property acquisitions, there was no uniformity in product purchases. Buyers Access conducted a survey which revealed dozens of different faucets being purchased across the portfolio, causing higher acquisition and maintenance costs.
Analysis of Current Usage
The client’s previous Q4 spend was compiled with their primary, national MRO (Maintenance, Repair & Operations) supplier (a BA vendor partner). During the review, Buyers Access analysts discovered over 25 different styles of faucets being purchased. Leveraging the Buyers Access’ extensive vendor network and analysts’ recommendations, the client’s COO, CFO, and Director of Maintenance, selected 4 faucets (2 kitchen/2 bathroom), maximizing purchasing power, and mitigating cost through reduction of redundant inventory (see attached spreadsheet). Buyers Access’ expertise in program implementation, aided the client in communication, training, adoption, and successful roll-out of this standards program.
A 42.6 % reduction of spend on faucets, totaling over $11,000 in savings in the first quarter after program implementation. The client realized a reduction of faucet inventory, repair hardware, and labor hours on installation and/or repair.
Client Saves 435 Hours of Invoice Processing Time with Intuitive Commerce Automation
Case Study: e-Commerce Automation : Multifamily Group Purchasing
Client: Property Management Company of 8,500 units
Savings: 435 hours per year, reducing invoice processing time
A Management Company based in Boston, MA with over 8,500 units needed a single platform to manage all of their purchasing related activities. Though their properties were using the proprietary websites of their preferred suppliers, the Regional Management and Corporate Executive team wanted proactive controls and real-time visibility into their properties purchasing decisions, a solution to drive item standardization and automation to their accounting processes. To realize these needs, the team engaged Buyers Access to implement a customized Commerce Automation Site.
Through collaboration with the client’s project team, Buyers Access built an Order Approval Process which automatically notifies the respective Regional Manager of any order placed over $500. The Regional Manager now has the flexibility to proactively:
• Approve the entire order
• Deny the entire order
• Approve/Deny at the item level
• Change order quantities
In addition, Buyers Access also deployed a Standardization Program through the use of Item Attributes. Items identified by the client’s Director of Operations & Maintenance are now visible to the entire portfolio for selection and submission into their shopping cart.
Finally, Buyers Access implemented a weekly Accounts Payable Feed process, which eliminates the manual invoice vouchering process by the Corporate Office Accounts Payable Team.
All orders are now reviewed by the property’s Regional Manager prior to direct submission to the supplier’s order fulfilment system, reducing returns and unnecessary use of budget.
Consistency of product used and installed on the properties has increased. Properties can save these Standard items in custom ‘Recurring Orders’ for greater efficiencies and time savings during their purchasing process.
Over 5,250 invoices are now fed into the Client’s Accounts Payable system annually. Based on historic metrics, a single voucher may take an Accounts Payable’s team member 5 minutes to enter. The revised process will save the Client’s Account Payable team over 435 hours per year.
Client Saves 30% Annually By Standardizing Office Supply Purchases
Case Study: Standardized Office Supplies
Client: Property Management Company of 1,500 units
Savings: 30% annual savings across portfolio
A Management Company based in North Charleston, SC with over 1,500 units had several properties managing their own purchasing activities using multiple suppliers for purchases. In addition, each property had different ordering, billing and delivery methods in place, leaving inconsistent purchasing behaviors portfolio-wide.
Buyers Access analysts compiled the client’s prior office supply spend and discovered that inefficient standards led onsite staff to purchase a variety of higher priced items. With the ability to leverage the Buyers Access extensive vendor network, the analysts recommended to standardize office supply purchases across the portfolio in order to create uniformity of products and achieve favorable pricing on those products. Through collaboration with the client’s project team, Buyers Access successfully rolled out a standardized office supplies program to the client’s properties. The Regional Property manager now has the ability to:
• Receive training on purchasing procedures through their dedicated Account Manager
• Receive assistance and recommendations from both Account Manager and Member Services to find and select
“Best Value List” pricing from items in catalogs and e-Commerce site
• Cross reference items and price check office supplies against all national suppliers in the Buyers Access program
• Call into the Member Services team that has the resources and the contacts to locate thousands of unusual, rare,
and hard to find items
• Rely on a more streamlined order approval process
After implementation, and thanks to the national buying power of Buyers Access, this management company was able to save 30% annually and standardize their office supply purchases across their portfolio. The client also realized the onsite staff’s ability to order items more efficiently and cost effectively allowed for an increase of leased units in each property. The Buyers Access Smart Advantage purchasing solution helped streamline the procurement process, which continues to save them time and money.