Purchasing Platform

Purchasing Platform operates as a procure-to-pay and B2B marketplace specifically tailored for the real estate industry, with a strong focus on property management companies. The company was established in 2017 by Dave Bowen, who now serves as the Chief Operating Officer.

The platform aims to streamline the procurement process for its clients by providing a centralized system for spend management and sourcing from a network of vetted vendors. This addresses a key challenge in the property management sector, where procurement is often fragmented and lacks transparency. By consolidating purchasing activities, the software offers property operators enhanced control over their expenditures and greater visibility into spending patterns across their portfolios. This is particularly beneficial for multi-family and single-family rental operators who manage numerous properties.

The business model is multifaceted, generating revenue through several streams. A primary source is the marketplace transaction fee, where the company takes a percentage of the total order value from the vendors on the platform. Additionally, Purchasing Platform offers a software-as-a-service (SaaS) subscription for its spend management tools, providing features like analytics, budget tracking, and workflow automation. The platform also offers value-added services such as maintenance and repair coordination.

The core offering is a comprehensive online marketplace that connects property management firms with a wide array of suppliers for maintenance, repair, and operations (MRO) goods and services. Key features include negotiated pricing with national suppliers, a catalog of over 10 million products, and integrations with existing property management software. The platform's value proposition lies in its ability to drive cost savings through bulk purchasing power and operational efficiencies by simplifying the requisition, approval, and payment cycle.

Keywords: real estate procurement, spend management, B2B marketplace, property management software, MRO supplies, procure-to-pay, real estate technology, PropTech, supplier management, cost savings